Bitcoin, Cardano and major altcoins fall and go down on Aug. 24
Bitcoin, Cardano and major altcoins fall and go down on Aug. 24 By Angel Di Matteo @shadowargelThe

drop seen in Bitcoin

price generated some domino effect this August 24, so much of the major altcoins are also going down today at this time.



price drops 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 for today is down and is quoted at this hour at about USD $48.637 per unit, with a fall of 3.4% compared to what was seen yesterday.

This is reflected in data published in our CryptoMarkets section, which shows that yesterday Bitcoin

was trading above USD $50,000 per unit and then began to fall to reach lows below USD $49,000 overnight. However, for this August 24 after partially recovering, it again goes down and recorded a significant drop in the last 24 hours. Evolución precio de Bitcoin este 24 de agostoEvolución precio de Bitcoin este 24 de agostoBitcoin price evolution this August 24

Long-term expectations

Although it

is unpredictable to estimate what will happen with the price of Bitcoin

in the short term, many analysts and enthusiasts seem inclined to think that the digital currency is projected to new record highs, suggesting that perhaps by the end of this year or before we can see prices above USD $ 60,000 per unit despite the volatility present in the market.cado.

Let’s keep in mind that during the past month of May Bitcoin recorded 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 because of the high carbon emissions and the announcements made by the Chinese government, the price of the digital currency plummeted and derived quite remarkable losses in the short / medium term.

Although this type of fluctuations are to be expected for those who have more experience in this ecosystem, several reports pointed out that the sales occurred mainly among less experienced investors, 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 lows seen at that time and invested their capital in Bitcoin, deriving today gains of more than 37% in the last three months. At the same time, there are many enthusiasts and recognized figures who continually say that the digital currency is projected to much higher values, among which stands out the CEO of MicroStrategy, Michael Saylor, who says that whenever there is the opportunity they will acquire more BTC.

Cardano also sees a slight drop

The other coin that stands out for this August 24th is ADA Cardano, which despite the fall still maintains prices and is quoted per unit at around USD $2.76.

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

Main altcoins down on August 24

While Bitcoin y Cardano are experiencing some corrections, most of the major cryptocurrencies are also posting slight declines for the morning of this August 24.

In that sense, coins like Ethereum (ETH), Binance Coin (BNB), XRP, <a href=”” target=”_blank” rel=”noopener”>Dogecoin (DOGE), Polkadot (DOT), Uniswap (UNI), Chainlink (LINK), Bitcoin Cash (BCH), Litecoin (LTC ) and many others are down with drops between 2% and 6% at the time of writing.

But the surprise of the day comes from Terra (LUNA ), a token that for this morning is up and trading at around USD $32.7, capitalizing on gains of 15.3% this morning.

Winners and losers of the day

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

Winning cryptocurrencies

Losing cryptocurrencies

To purchase cryptocurrencies through DiarioBitcoin

Now that Bitcoin and the main cryptocurrencies register important increases, if you are one of those who see opportunities and want to buy cryptocurrencies, we remind you that our section CryptoMarkets already has buttons for you to proceed to buy your favorite digital coins.

If you want to buy Bitcoin (BTC ), prefer to buy Ethereum (ETH ) or want to get some Tether (USDT ), you just need to go to our CryptoMarkets and click on the buy button. We recommend everyone to be very attentive as this possibility will be added soon for a larger number of digital currencies.

Nuevos botones de compra a través de CriptoMercados

Report by Angel Di Matteo / DiarioBitcoin

Image by Unsplash