We experienced a bit of a mixed bag in our last weekly cryptocurrency report which meant that some of you will have been happier than others. This week though, it seems that most of you will not be happy at all as each and every currency we have been tracking has gone and lost some its value.
Some have lost far more than others, however, so make sure you take a look through at how these cryptocurrencies performed between Saturday 28th of July at 00.01am and Friday the 3rdof August at 23.59pm.
Across the past two reports that we have produced, Bitcoin had grown in value of a combined value of just 30% which was more than welcome after experiencing a tough 2018. However, any of you hoping that BTC would increase in value for a third week running are going to be disappointed.
It has actually dropped just under 9% of its value which is how much it had increased in our last report. It was previously valued at $8,185.36 but it suffered some rather big drops on Tuesday and Wednesday and levelled out at $7475.66. Still, this does mean that Bitcoin has increased about 20% over the last three weeks.
Like Bitcoin, Ethereum has had a couple of positive weeks albeit on quite a smaller scale but all of that increase in value over the previous fortnight has now gone down the drain. It had picked up a combined value increase of just under 7% in our last two reports but with 11% of its value being shredded in the past seven days, investors will be hoping that it bounces back quickly in the coming week.
We left ETH with a value of $467.01 in our last report but over the next seven days and mainly on Tuesday and Wednesday, its value dropped and it was left at $413.07 once the cutoff for our weekly reports was reached.
Litecoin has also seen the value it gained in our last report all but wiped out but the good news is that it is still about 9% up in total over the last three weeks. At the time of writing this report, LTC was valued at $84.49 which is $2.01 lower than the $86.50 it was valued at this time last week.
Again, most of these losses came on the Tuesday and Wednesday of last week and they were not able to be recovered in time for the cutoff point for this report.
Monero enjoyed gains of 11% and 3% in our last two reports respectively and many investors of this cryptocurrency would have been hoping that these increases were followed with some more this time around. Unfortunately, however, all of those gains have been practically wiped out in the last week with XMR losing 14% of its value.
It has dropped from $141.17 to $120.99 within the space of seven days with the biggest damage happening on Tuesday. This will be a bit of a kick in the teeth for anyone holding this cryptocurrency but we all know how volatile the cryptocurrency markets can be.
If you have been holding onto NEO, it might be time to look away. This cryptocurrency already lost 3% of its value in our last report but that is nothing compared to the 17% it has dropped this time around. Its drop from $33.50 to $27.59 in the last seven days means that 20% has been shaved of its value in the last two weeks alone.
It is not clear why these drops have occurred but all we can do is hope that the value bounces back the other way in time for our next report this coming Saturday. It is rare for a cryptocurrency to drop in value for three straight weeks so at least you will have that to cling to.
Ripple is the cryptocurrency that will once again be bringing this report to its conclusion and like the others above, it has seen a reduction in value of 3.5%. Two weeks ago this cryptocurrency enjoyed an 8.5% increase but then lost 4% of it just last week before its most recent loss in value this time around.
That drop in value means that it has gone from $0.4557 to $0.4394 in the last seven days. As many of you will know, however, there is just as much chance that this could be gained back in the next week as there is that the value could fall further.
NEO, Monero and Ethereum are this week’s biggest losers but it has not been a good week right across the cryptocurrency board if truth be told. The only positive is that the past few weeks prior to this one had seen some big increases and that is what many will be hoping for again in our report next week.
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