It is that time of the week once again where we take you through the performance of some of the more well-known cryptocurrencies on the markets throughout the last week. If you recall, in our last report they had each suffered a little bit in terms of losses to their value.
The good news this time around is that there has been a big reversal in fortunes for each of the cryptocurrencies and you will be able to enjoy increases in value for all of them.
This report looks at the performance of these cryptocurrencies between Saturday the 14th of July at 00.01am to Friday the 20th of July at 23.59pm. Take a look at how your favorite cryptocurrencies performed.
It has certainly been some time since we were able to post such a big gain for Bitcoin in a seven day period. BTC has actually increased in value by a staggering 20% since our last report and is now valued at $7,509.98 from that of $6,263.57. That marks a 19.9% increase and one that is worth a total of $1,246.41 on top of its previous value.
The gains started on Monday after the previous week where losses of around 6% were suffered but the biggest jump came on Wednesday when it went from around $6,770 right up to $7,374 within a matter of three hours. Of course, we are still far from the heady days of the value being in the late teens but this is one of the best weeks for BTC is quite some time.
While the gains have not been quite as impressive for Ethereum when compared against Bitcoin, this cryptocurrency has at least recovered most of what it had lost in our last report. We left it valued at $437.60 in that report ETH did recover mainly during midweek with it actually enjoying a high of $508 on Wednesday but it soon dropped back down to $460.33 in time for the cutoff for this report.
That gain represents 5% of its value that has increased which works out to be about $22.73 in total.
Litecoin had suffered in a similar way to Ethereum in the week before our last report with a drop of around 6% but the good news is that loss has been recovered this week with a little more on top as well.
At the cutoff point for our last report, LTC had a value of $77.68 but by Monday this had already increased to see its values in the low 80’s. Come Wednesday it had increased even more to be seen at a high in the low 90’s but over the last few days of the week this would gradually drop down to a value of $84.62 at the cutoff. A good 9% increase for Litecoin and it will be a gain in value that investors will hope continues into next week.
We mentioned in our last report that it was about time that Monero had a good week but we had no idea that it would come around in the very next week.it had lost 8% of its value to be left at $122.70 but just a week later, that had been covered up with a 12% increase which brought it to $137.29 at the end of the week.
Most of that gain came between Monday and Wednesday and while that increase slowly tailed off by the end of the week, it still finished up being one that Monero investors will be happy about.
Neo might not have enjoyed as big an increase as many others and in particular Bitcoin but has still seen an increase nonetheless. This increase is just under 4% and takes the cryptocurrency from the $33.23 it was valued last week right up to the $34.47 it was valued at when the cutoff point was reached for this report.
Like many other cryptocurrencies in this report, the majority of those increases came in the early part of the week between Monday and Wednesday. Its value could have been even higher but it tailed off and actually lost value in the last part of the week.
Completing a totally positive week for each of the cryptocurrencies that we have been tracking, Ripple has also enjoyed a positive week. It has risen in value by 8.5% and is now valued at $0.4774 having come from $0.4400 the week before.
XRP enjoyed two sharp increases in value on both Monday and Wednesday and despite losing some of that in the last couple of days of the week, it managed to hold on to this significant increase in value.
So we have enjoyed a good week with regards to the cryptocurrencies we have been tracking but you will know just like we do, that this can all changing in the current week. Most of you will be hoping that the increases enjoyed this week will carry on and start to provide a more promising outlook for the rest of 2018.
To see whether that might be the case, you will have to come back and read our next report on these cryptocurrencies at the same time next week.
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