So, we are back to take another look at how various cryptocurrencies have performed in the markets over the last seven days and this time around we have seen a bit of a mixed bag. Some have increased slightly, some have had small or large drops and others have managed to pretty much stay where they are.
There have been no real big winners in our list today but many values have been pretty steady throughout the week. Bitcoin is the most talked about coin obviously and this time around it has seen an increase in value albeit small. You will find out more about that as you carry on reading our report below:
Just to show you the violence of the Bitcoin market, even a small swing of 2.22% on last week is worth $182.48 in value. Fortunately for those of you holding BTC, that swing has gone in your favour, something you would have hoped after a tough few months that has seen the value of Bitcoin more than half since one point in December of last year.
The Bitcoin was actually valued at $8,206.79 when we left it last week but it is now sitting at $8,395.11. This increase in value over the last seven days was far from being without some wobbles, however, as it did drop down to around $7,400 on Monday. Since then it has climbed fairly consistently to be where it is now.
Ethereum usually follows the trend of Bitcoin but this week it has gone in completely the other direction. Last week Ethereum was valued at $608.56 after a poor previous week of drops but another struggle during the past seven days has seen it drop a further 15.59% and $95.11 in value to be at $514.79.
It could have been a lot worse, however, as Ethereum actually fell to a low of $460 on Monday. Bitcoin also endured its low point on that day but it recovered to actually gain in value but Ethereum could only recover so much. Holders of the ETH coin might start to get a little concerned if these drops continue throughout the coming weeks.
Litecoin has had a fairly solid previous week but has ultimately ended up 3.14% down in value and sits at $158.21 compared to the $163.29 the cryptocurrency was worth just seven days ago. Like most coins, Litecoin suffered a big drop on Monday but it has since gone on to recover to its current price throughout the week.
It will be interesting to follow this coin over the next week to see if it can start gaining in value once more.
Most coins suffered quite badly the week before last in terms of value and while Monero has once again dropped in value over the past seven days, this drop is rather small at 3.40%. This is actually a drop in value of $7.07 to $200.67 but not a huge one. It did have a low on Monday of around $175.70 but pretty much all cryptocurrencies suffered similar drops.
Could the XMR gain in value next week? I guess we will all have to just wait and see on that.
When we left Neo last Friday, it was valued at $68.42 having suffered some drops the previous week. Unfortunately, those drops have continued throughout this week as another 5.32% has been shaved off the value. It is currently worth $64.83 after losing $3.64 off its value compared to seven days ago.
This reduction in value has been pretty consistent all week rather than dropping drastically on Monday and then recovering throughout the remainder of the week.
Its been a similar story for Ripple this last week as well, with yet another drop in the value of 10.23%. Last Friday this coin was worth $0.6907 but it has since dropped $0.0705 to be valued today at $0.6194. That is quite a drop for the popular cryptocurrency but many do believe that 2018 is going to be a big year for this cryptocurrency.
Augur currently sits on a value of $32.99, a drop of just 1.35% on last weeks value of $32.11. That represents just $0.45 being taken off the value of this coin which compared to the drops of many other cryptocurrencies this week, is actually pretty decent.
This was another coin that experienced a bad start to the week with a low of $25.65 being hit on Monday. It has since managed to claw back most of that value in the following days, however.
Digix was the standout performer last week as it had recorded a growth in value of around 50% but this time around it has lost some of that. An 11.26% drop in value over the past seven days would usually look quite worrying but when you factor in that huge gain in value previously, this is not something to worry about too much.
Digix had a value of 0.04701 BTC last Friday but is now valued at 0.04129 BTC after that drop of 0.00524 BTC. Holders of this coin will not be overly worried as it has still increased in value dramatically in the last fortnight.
It is never easy (in fact pretty impossible) to predict what will happen over the next seven days in crypto-world but we are certain there are going to be plenty more twists and turns. It will be interesting to see if Bitcoin, in particular, will continue to see some slight gains in value. As for the rest, holders will be hoping that their fortunes are reversed for next Friday.
Come back and check us out next week to check out our latest cryptocurrency report on the previous seven days in the markets.
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