Analysts at Bloomberg suggest that in coming months the price of Bitcoin will continue to decline.
Bloomberg writes that "Bitcoin has again become of interest" because its price may be reduced up to a $1500. If this happens, then Bitcoin will lose about 70% of its value.
The publication refers to the hedge fund founder Travis Kling, who complained of "trouble sleeping" because of the potential turmoil on the cryptocurrency markets, provoked by the recent Bitcoin Cash hard fork.
"It is possible that something really bad could happen related to Bitcoin Cash. If it happens, it will affect the entire cryptocurrency market."
Mike McGlone, one of the analysts Bloomberg, agreed with this opinion and added that the recent market's decline was caused by the universal excitement about the hard fork Bitcoin Cash:
"The rise that started a few weeks ago, a little shook up the market by the speculative longs playing for the good-old days. However, this in no way helped to stop the decline of the market."
The decline in the cryptocurrency industry has evidently affected more than just prices. For example, Nvidia, a major American manufacturer of graphics accelerators, reported a significant decline in sales in the current quarter. The reason lies in the fact that miners have become much less likely to acquire video cards for the extraction of various cryptocurrencies.
Previously Robert Sluymer, analyst at Fundstrat Global Advisors, predicted that Bitcoin will take several weeks or even months to recover from the technical damage caused by the recent price collapse.
The same opinion is shared by Tom Lee, he co-founder and head of the research Department Fundstrat, who said about changing own prediction on Bitcoin exchange rate. According to him, before the end of this year, the price of Bitcoin could grow only up to 15 thousand dollars. Growth to 25 thousand dollars, about which the experts talked a few months ago, is currently impossible for Bitcoin.