Sharp market jolt sent Bitcoin and major altcoins tumbling in the afternoon of Sept. 7
Sharp market jolt sent Bitcoin and major altcoins tumbling in the afternoon of Sept. 7 By Angel Di Matteo @shadowargelWhile

in El Salvador the use of Bitcoin

is made official this September 7, both the main cryptocurrency and the main exponents of the market went surprisingly down.

Without a doubt, this September 7 has been full of emotions, especially in the last hours when the price of Bitcoin

and the main digital currencies experienced a sharp drop, this amid expectations regarding the entry into force of the officialization of the main cryptocurrency as the official currency in El Salvador.

Therefore, we open our second price report for this September 7 reviewing the evolution seen in the price of Bitcoin (BTC

), a currency that at the time of editing is quoted at about USD $46.975, registering a fall of approximately 9.25% in the last 24 hours.

Bitcoin down?

According

to information published in our CritpoMercados section , although this morning we reported a slight drop in prices that could be associated with a market correction, these values continued to fall and were pronounced shortly before 10:00am (New York time), taking the price of Bitcoin

from around USD $51.065 to USD $46.393 per unit, registering losses of USD $4,600 in just one hour of trading. Evolución precio de Bitcoin durante la tarde de este 7 de septiembreEvolución precio de Bitcoin durante la tarde de este 7 de septiembreBitcoin price evolution during the afternoon of September 7

The fall is especially striking precisely because it occurs within the framework of Bitcoin

Day for El Salvador, since as of today September 7 the digital currency is listed as an important currency for El Salvador. This is a legal tender currency within the country. It is worth mentioning that yesterday the local government began to acquire BTC and made a first investment of USD $10 million for the purchase of 200 units.

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Personalities from the ecosystem Bitcoin also showed their enthusiasm and support regarding the implications of this day for the history of the country and the world. One of the most striking proposals made today was that of MicroStrategy CEO Michael Saylor, who invited his followers to buy USD $30 in BTC in commemoration of this event.

Strong shake-up in the market

The shakeout seen in the market was also felt among the main altcoins, which also fell sharply throughout the day on September 7.

Among the most notable declines at this hour were Ethereum (ETH), Cardano (ADA), Binance Coin (BNB), XRP, Dogecoin (DOGE), Polkadot (DOT), Uniswap (UNI), Chainlink (LINK), Bitcoin Cash (BCH), Litecoin (LTC), Terra (LUNA), Internet Computer (ICP ) and many others, down 12% to 20% at press time.

The shakeout even had an impact on the price of Solana (SOL), a coin that figures to be the big surprise of the last few weeks. Although it is still scoring in the green over the past 24 hours, its price fell to USD $133 at 11:00am today. But by the time of editing, it is recovering and is back above USD $170 per unit.

The steepest drops

Finally, here are the cases with the steepest drops.The most pronounced drops for this September 7th.

To buy cryptocurrencies via DiarioBitcoin

In these times of uncertainty, 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 currencies.

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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 we will soon be incorporating this possibility for a larger number of digital currencies.

Nuevos botones de compra a través de CriptoMercados

Source: CryptoMarkets, CoinMarketCap

Report by Angel Di Matteo / DiarioBitcoin

Image by Unsplash