RATE Group | Analyst: Bitcoin and Ethereum Have Room to Fall Further, BTC May Touch $3,500
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Analyst: Bitcoin and Ethereum Have Room to Fall Further, BTC May Touch $3,500

23 Nov Analyst: Bitcoin and Ethereum Have Room to Fall Further, BTC May Touch $3,500

Posted at 19:12h in Ethereum News by

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Following a turbulent week for the cryptocurrency markets, most major cryptocurrencies have fallen even further today, and analysts now believe that there is more room to fall for Bitcoin and Ethereum.

At the time of writing, Bitcoin is trading down over 4% at its current price of $4,300. Over the past few days Bitcoin has established a new trading range between $4,200 and $4,600, and it is becoming increasingly unclear as to how the markets will respond to prices so low compared to where they were just a couple weeks ago.

There is a general consensus amongst cryptocurrency analysts that another downwards move is imminent, with most analysts expecting a move into the $3,500 region before the cryptocurrency sees any type of relief rally.

While speaking to MarketWatch, Naeem Aslam, chief market analyst at Think Markets U.K., said that the increasing imminence of regulation has been suffocating bulls, and the lack of buying volume could push Bitcoin’s price to $3,800 or even…

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