The sale of Bitcoin has more room to do, says analyst

After a break for Thanksgiving, crypto sales have resumed and all major coins are trading lower on Friday and should record their third consecutive weekly decline.

Bitcoin,

BTCUSD, + 1.06%

The largest cryptocurrency in the world was traded for the last time at $ 4,259.80, down 3.8% from 5 pm. Eastern time on Kraken's cryptographic system a day earlier and 23% lower since the beginning of the week.

And for an analyst, the end of the disappearance of crypto is far from being considered.

"Bitcoin is likely to decline further after an unsuccessful attempt to exceed the $ 4,700 level. The regulatory environment stifles bulls and bears are unleashed. It is likely that the price will reach the level of $ 3,800, or $ 3,500, if the current momentum continues, "wrote Naeem Aslam, Chief Market Analyst at Think Markets UK.

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Aslam added that the widespread drop in cryptocurrencies was more worrying for Ether, the most widely distributed currency when cryptographic companies were looking for an initial offer of parts.

"The most worrying aspect is that Ethereum could fall below the 100 mark, which is honestly due to the fact that a lot of fake parts have been eliminated from the system and that has made it Ethereum less valuable, "he continued.

A single Ether

ETHUSD, + 2.02%

had reached $ 122.12, down 5.2% on the day. Ether is down more than 90% from its record high and has not exceeded 100 USD since May 2017.

Elsewhere in altcoins, which are smaller pieces than Bitcoin, Litecoin

LTCUSD, + 2.71%

is down 4% to $ 31.79, XRP

XRPUSD, + 1.84%

is 5.2% at 41 cents and Bitcoin Cash

BCHUSD, + 2.96%

was down 10.2% to $ 195.30.

In futures trading, the December contract of Cboe Global Markets

XBTZ8, -4.23%

closed down 4.2% to $ 4,190 and the November CME Group contract

BTCX8, -4.21%

ended the day down 4.2% to $ 4,205.

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