Digital currencies and social mediaThe price of major cryptocurrencies such as Bitcoin fell on Tuesday. Yesterday, on August 26 the price of Bitcoin increased and at some point even surpassed the $10,400 level. It continued its rise to the top when Bitcoin’s price reached more than $10,500. However, it was unable to increase its price and Bitcoin experienced problems.
At the moment, the price remains above $10,000 level. At the time of writing Bitcoin’s price is $10,019. However, Brian Kelly who is the founder of the investment company BKCM thinks the situation will improve in the future. Kelly even added that right now is an excellent time to buy Bitcoin.
He also talked about the reasons which affected the price of Bitcoin. Kelly stated that the number of active Bitcoin addresses decreased which might indicate that cryptocurrency is close to sell-off. According to Kelly, after sell-off, the Bitcoin’s price will strengthen its position.
The price of another digital currency Ethereum also declined on August 27. Right now Ethereum is the second-largest cryptocurrency on the market. Yesterday, its price reached $193, 44 but in a couple of hours, the price of Ethereum fell to less than $190. Right now, Ethereum’s price is $186.
Litecoin’s price followed the footsteps of other major cryptocurrencies. Litecoin’s price is $73.
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