Crypto On Aug. 16: Bitcoin Loses $24,000, Ether Retests $1,800

The crypto market opened on a bearish note Tuesday with leading cryptocurrencies Bitcoin (BTC) and Ether (ETH) dropping by 3.54% and 5.33%, respectively, after failing to retain prices above their resistance zones.

Furthermore, as per data from CoinMarketCap, the price of BTC and ETH as of 1:56 a.m. ET stood at $23,907 and $1,866. The market dominance of the world's biggest cryptocurrency dropped to 40.21% while Ether's dropped to 20.07%.

The algorithm from BitcoinWisdom predicted that the maximum price of BTC would be $36,003 by the end of 2022 while the maximum price of ETH would be $2,821.

The top 10 cryptocurrencies by market capitalization were bearish as Binance Coin (BNB) dropped by 1.79% to $316.60; Cardano (ADA) dropped by 3.18% to $0.5517; Ripple (XRP) dropped by 2.82% to $0.3711; and Solana (SOL) dropped by 6.11% to $43.08. On the other hand, Dogecoin (DOGE) jumped by 0.14% to $0.07916.

The worst performers as of 2:01 a.m. ET were Polkadot (DOT) which dropped by 4.86% to $8.70; Polygon (MATIC) which dropped by 5.88% to $0.9443; Uniswap (UNI) which dropped by 8.13% to $8.27; NEAR Protocol (NEAR) which dropped by 7.26% to $5.32; and Quant (QNT) which dropped by 6.48% to $112.61.

The best performers as of 2:04 a.m. ET were Chiliz (CHZ) which rose by 14.65%; Stepn (GMT) which rose by 3.66% to $1.07; and Ankr (ANKR) which rose by 4.93% to $0.04908.