Bitcoin on track for three consecutive losing sessions


Digital currency markets are setting the umpteenth losing session, with most major currencies in red at the end of Friday.

Bitcoin, the world's largest cryptocurrency, has lost more than 15% since Wednesday, plummeting to a two-week low of $ 6,279.08. In the late afternoon afternoon I exchanged a single bitcoin

BTCUSD, -0.06%

changed the last hand to $ 6,423.36, down 0.3% from Thursday to 17:00. Eastern Time on the Kraken exchange. A session lost on Friday would make three in a row.

The general consensus was a two-day selloff resulting from a report that Goldman Sachs had implemented his crypto venture by citing regulatory uncertainty. However, late Thursday, a senior executive at Goldman Sachs Group

GS, -0.26%

has scaled down the relationship, calling it a fake report.

"It is not that we announced something or that something has changed for us," said Marty Chavez, CFO of Goldman Sachs, at the TechCrunch Disrupt Conference. "I never thought I would have heard myself use this term, but I should really describe it as a fake report."

He went on to say that the bank was still working on a non-deliverable bitcoin forward contract.

Read: Despite the encryption, investors are planning to add digital goods, findings of the survey

If not the Goldman news, then?

With bitcoin unable to demonstrate after Chavez denied Wednesday's report Danny Scott, co-founder of Crypto Exchange, CoinCorner put forward an alternative theory that the selloff was the result of a single seller, or bitcoin whale.

"Many have speculated that the fall in bitcoin prices this week was due to the news that Goldman Sachs would have abandoned his cryptocurrency trading plans," Scott wrote in an email to MarketWatch.

"A different theory that we've been following in the last few days comes from an old bitcoin wallet that starts moving a large amount of bitcoins (100,000+ BTC) .These seem to come from MtGox that could match their recent announcement that lenders can now open claims to any lost funds. "

MtGox was a bitcoin exchange that suffered an attack in February 2014, when more than 800,000 bitcoins were stolen. In the following months, around 200,000 bitcoins were recovered and placed in a trust account waiting to be liquidated and dispersed among the creditors.

Read: Former Mt. Gox CEO does not want his billion dollars

Without respite for altcoins

It is the day of the marmot for the altcoins, smaller coins alternatives to bitcoins , with most on the track to finish Friday on a rough note. Ether

ETHUSD, + 0.24%

is down 3.6% to $ 216.52, Bitcoin Cash

BCHUSD, + 0.58%

fell by 2.2% to $ 497.20, Litecoin

LTCUSD, + 0.32%

wsd unchanged at $ 56,38 and Ripple currency XRP

XRPUSD, + 0.46%

trades at 29 cents, down 2%.

Futures could not reverse the trend, ending Friday in red. The September contract of Cboe Global Markets Group Inc.

XBTU8, + 0.43%

ended 0.1% to $ 6.402.50, while the comparable contract of CME Group Inc. in September

BTCU8, -0.16%

closed the session by 0.6% to $ 6.390.

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