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Bitcoin, Cardano, and major altcoins drop and go down on August 24

By Angel Di Matteo @shadowargel

The drop seen in the price of Bitcoin generated a certain domino effect on August 24, so a good part of the main altcoins are also going down today at this time.


Price of Bitcoin falls back to USD $ 48,600 this August 24

We open a new price report for this August 24, reviewing the evolution seen in the price of Bitcoin (BTC), the main digital currency that is going back today and is trading at this time at about USD $ 48,637 per unit, with a 3.4% drop compared to what was seen yesterday.

This is reflected by data published in our section CryptoMarkets, where it looks like yesterday at this time Bitcoin It was trading over USD $ 50,000 per unit and subsequently began to fall to a lows below USD $ 49,000 overnight yesterday. However, for this August 24, after partially recovering, it is down again and registers a notable fall in the last 24 hours.

Bitcoin price evolution this August 24
Bitcoin price evolution this August 24

Long-term expectations

Although it is unpredictable to estimate what will happen to the price of Bitcoin In the short term, many analysts and enthusiasts seem to be inclined to think that the digital currency is projecting towards new all-time highs, suggesting that perhaps by the end of this year or sooner we can see prices above USD $ 60,000 per unit despite the volatility present in the market.

Let us bear in mind that during the past month of May Bitcoin it registered the highest values ​​throughout its history, this after trading above USD $ 64,000 at a time of great expectations among investors. However, due to Tesla’s refusal to receive payments with the digital currency due to the high carbon emissions and the announcements made by the Chinese government, the price of the digital currency precipitated and derived quite notable losses in the short / medium term.

Although these types of fluctuations are to be expected for those with more experience within this ecosystem, various reports indicated that sales occurred mainly among investors with less experience, who opted to exit the digital currency to mitigate losses amid the uncertainty seen in the market.

But there were others who took advantage of the minimums seen at that time and invested their capital in Bitcoin, deriving today gains of over 37% in the last three months. At the same time, there are many enthusiasts and recognized figures who continually state that the digital currency is projected towards much higher values, among which the CEO of MicroStrategy, Michael Saylor, who assures that whenever there is the opportunity they will acquire more BTC.

Cardano also registers a slight drop

The other currency that stands out for this August 24 is ADA from Cardano, which despite the fall still maintains prices and is priced per unit at about USD $ 2.76.

Let us bear in mind that during the afternoon of yesterday the digital currency got quite close to the barrier of USD $ 3 per unit. Although what happens today could be interpreted as a correction, there are still many expectations about its price for next September 12, when the next update of its network will take place and will mark the arrival of smart contracts to the ecosystem of Cardano.

Main altcoins down this August 24

While Bitcoin and Cardano experience certain corrections, most of the main cryptocurrencies also register slight falls for the morning of this August 24.

In that sense, coins like Ethereum (ETH), Binance Coin (BNB), XRP, Dogecoin (DOGE), Polkadot (DOT), Uniswap (UNI), Chainlink (LINK), Bitcoin Cash (BCH), Litecoin (LTC) and many others are going down with falls between 2% and 6% at the time of publication.

But the surprise of the day comes from the hand of Terra (MOON), token that for this morning is on the rise and is trading at about USD $ 32.7, capitalizing gains of 15.3% this morning.

Winners and losers of the day

Below we review the cases with the most pronounced fluctuations for this August 24.

Winning cryptocurrencies

Losing cryptocurrencies

To buy cryptocurrencies through DailyBitcoin

Now what Bitcoin and the main cryptocurrencies register significant increases, if you are one of those who see opportunities and want to acquire cryptocurrencies, we remind you that our section CryptoMarkets You already have buttons for you to proceed to buy your favorite digital currencies.

If you want to purchase Bitcoin (BTC), prefer to buy Ethereum (ETH) or do you want to get some Tether (USDT), you just have to access our page CryptoMarkets and click the buy button. We recommend everyone to be very attentive since this possibility will soon be incorporated for a greater number of digital currencies.

New purchase buttons through CriptoMercados

Report by Angel Di Matteo / DailyBitcoin

Picture of Unsplash

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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