Digital currencies and social media

The 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.

Telegram and cryptocurrencies

Cryptocurrencies are becoming popular around the world. Several years ago only limited number of people knew about them. However, the situation changed as cryptocurrencies step-by-step become part of daily life. There is a chance that more than 300 million users of Telegram will be able to buy and sell the Bitcoin.

On August 26, Bitcoin and cryptocurrency wallet provider Button Wallet unveiled the first free cryptocurrency testing playground. Thanks to this initiative any Telegram user can use Button wallet’s Telegram Open Network wallet.

They will receive 6.6 testnet grams. It means that users can learn more about cryptocurrencies without investing in one of them. This is an excellent opportunity to explore the digital currency market without losing money.

The price of significant cryptocurrencies decreased on Tuesday. However, this trend might change in on Wednesday.