It was a great week for investors on the blockchain as nearly all cryptocurrencies increased in value over the course of 7 days. It was not easy for margin trader, but for those that did capitalize in the early week drops in value will have sold out at the end of the week with a profit.
BTC, ETH, LTC, XMR, NEO, and more all showed resilience to the recent drops in the US$ value by bouncing back and way above their starting value on Saturday morning 14th April 2018 and ending on Friday night 20th April 2018 on a positive note.
Is this the start of a blockchain wide recovery? OR are we just seeing a spike once again that will eventually drop back as we have gotten so often this 2018?
One thing is for certain, investment in the blockchain is still very much alive with many still with belief that there will be yet another surge similar to that of 2017.
Here is the latest update for cryptocurrencies.
What a week for BTC digital currency holders. For once Bitcoin (BTC) investors have something to smile about as the currency lifted from $7,874 at the start of the week on 14th April and ended on a high of $8,294.31. It is not the largest of increases, but it is better than the recent weekly declines that are so often being reported.
On Monday Bitcoin (BTC) has early morning jump to $8,367 brightening up investors’ day. It was a nice push from its Saturday low start. Nonetheless, nerves started to get rattled as once again on the same day the currency showed a marked increase in value it suddenly declined to a low of $7,925 by the evening.
Tuesday showed very little sign of a recovery and by Wednesday morning the currency was valued at $7,886 – not far above its weekly start.
Thankfully come Wednesday afternoon and the currency was pushing back up above the $8,000 mark. It continued to rise with only a slight dip to just below $8,000 on Wednesday evening. On Thursday Bitcoin (BTC) was back on the rise and ended the week on Friday afternoon worth $8,294.
Ethereum’s investors have had a much better time of it compared to Bitcoin (BTC) investors as early week rises and mid-week drops were nothing substantial. The currency then rocketed by the end of the week finishing at a value of $588 up from $493 at the beginning of Saturday morning.
At the start of the week, ETH was at a low of $488 on Saturday evening, but then rose to $534 by Monday morning. However, the rise was short-lived as just a few hours later the crypto dipped to $507 by mid-day and to $500 by the evening.
Not much happened for the rest of week with slight fluctuations in value as always expected until its Thursday early morning surge kicked in just after midnight Wednesday. At this point, ETH was valued at $505 and rose sharply to $588 just before midnight on Friday.
Litecoin also performed well during the course of the week and certainly performed more positively in terms of consistency compared to both BTC and ETH.
At the beginning of the week on Saturday morning, LTC was priced at $125. There was a slight dip in value over the course of the day but nothing major to worry about. By Monday morning LTC was up to $132 and then back down to $125 by the evening showing no signs of positive or negative fluctuation.
The next day at Mid-day Wednesday LTC began show upwards movement and continued to rise throughout the rest of the week. It eventually surged to $150 just before 12 pm giving LTC investors an additional $18 per coin by the end of the week.
At last Menero investors have something to smile about. The currency has not performed as well as most would have liked, but between 14th April 2018 to the end of play 20th April, the coin rose by $52 in value giving it a 25% increase in value.
Arguably Neo investors had the toughest start to the week of all the cryptocurrencies listed on this report. It looked to be another week of gloom for XMR as it stumbled from $66 early Saturday morning to $62 before most had even got out of bed. This was at 5 am and so many may have missed it saving themselves from the disappointment because it did not take long for Neo to come back and the rest of the weekend was plain sailing.
By Sunday evening and moving into Monday morning it was up to $70 and then dropped by Monday evening to $64 just slightly up from the week beginning value. Throughout the rest of the week, NEO just went from strength to strength ending on Friday night at $76.
Many have predicted the rise of XRP, and now could be the time. It is as good a time as any for XRP to finally show its true colors and rise to the rank to confirm its place as a mainstream cryptocurrency. XRP began the week at $0.69 on Saturday morning and was up to a high of $0.86 by the end of the day Friday.
Whether this week’s positive performances are a sign that digital currencies are back on the rise remains to be seen. We have already experienced similar weeks where all currencies have risen only to face disappointment as the following week the trend quickly reversed. For all investors in the blockchain, this is a moment where fingers are crossed as the predicted rise in values could be on the horizon – only next week will tell when we will be back with another cryptocurrency news update.
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