It is no secret that the cryptocurrency market has enjoyed some quite buoyant months recently. However, if you were hoping to see those increases continue over the last seven days, it might be a good idea to look away.
Each of the cryptocurrencies we have been tracking has lost value. Some far worse than others of course but if you’re holding any of these in your portfolio, their value just took a hit of between 11% and 29%.
So read on to see exactly how each cryptocurrency faired in the last seven days.
While the last 30-days as a whole has been very impressive for Bitcoin with an increase in value up 12.57%, the past 7-days have not been so great. Down $1,793.54 from $12,644.86 to $10,851.32, that represents a drop in value of 14.18%.
That said, when you consider that the cryptocurrency has still doubled in price within the last three months, you have to admit that the signs are very good indeed.
BTC did actually reach a weekly high of just over $13k on Wednesday evening but since then its price has pretty much been a downward curve for the rest of the week. The low was $10,016.45 on Monday before it slowly started to recover to where it was on the cut off at noon on Tuesday.
Start – 7/9/19 11:59 am: $12,644.86
Finish – 7/16/19 11:59 am: $10,851.32
If you thought those losses for Bitcoin were big, its younger brother has just gone and beaten them quite substantially. The value of BCH in the last week has fallen 27.52%, drops that you might want to get a little used to for the rest of this report.
While that is obviously worrying news, BCH is still up a good 11% on where it was three months ago. Whether it will stay like that in the coming weeks is anyone's guess, however.
Like many other cryptocurrencies, the biggest drop of the week came on Wednesday and Thursday. It would never recover and would actually suffer another drop on the Monday before the cut off for this report.
Start – 7/9/19 11:59 am: $424.65
Finish – 7/16/19 11:59 am: $307.78
Litecoin is another cryptocurrency that has suffered in the last week. Despite still being a good 20% in value on where it was three months ago, it could have been looking a lot better if it did not lose 27% of its value in the last seven days.
Still, things are still looking far better than they did in the early part of the year and there is still a good chance that fortunes from this week could reverse in the coming weeks.
Wednesday last week was the day when the large drops first began and there was another on Sunday which brought its value down to where it is right now. Let’s see if the next seven days can recoup some of those losses.
Start – 7/9/19 11:59 am: $122.98
Finish – 7/16/19 11:59 am: $89.31
Although not quite at the extremes of most other cryptocurrencies on our report this week, Dogecoin has also experienced a tough 7-days in the markets. It has lost close to 15% of its value to be left sat with a value of $0.003052.
This means that despite hitting a high of $0.004231 at the start of July, it has returned to the same sort of levels as it was around three months ago.
Sunday was when the decline in value really started to set in and this occurred gradually for the next few days to leave the DOGE at the value it currently sits at. Could it start to climb next week? You will have to come back to find out.
Start – 7/9/19 11:59 am: $0.003576
Finish – 7/16/19 11:59 am: $0.003052
It's not looking like a good week for cryptocurrencies so far. Ethereum, Bitcoins fiercest rival is another to have lost a big chunk of its value in the last seven days. In fact, 27.74% has been wiped from its value in that time.
Still, like with most other cryptocurrencies, at least these losses will have been offset somewhat by the huge gains that they have enjoyed throughout the past three months. Ethereum is still 30% better off in value over that time despite the losses this week.
Could these losses continue in the coming weeks or will we see something of a comeback throughout the week? We will all have to wait and see on that one.
Start – 7/9/19 11:59 am: $315.15
Finish – 7/16/19 11:59 am: $227.72
While the likes of Bitcoin and some other cryptocurrencies have been enjoying something of a big revival in the last few months, Ripple has not been quite as fortunate. Despite initially reaching highs 0.4669 in May and then 0.4841 at the start of July, its price has once again fallen back to where it was three months ago.
The last seven days have seen probably its largest drop in recent weeks with 22% being wiped from its value. It now sits with a value of $0.3131 after a pretty dismal week in the markets.
It was Wednesday night that saw the start of the biggest drop with it falling from $0.3925 to 0.3560 within just a few hours. The remaining losses were then a little more gradual throughout the rest of the week.
Start – 7/9/19 11:59 am: $0.4060
Finish – 7/16/19 11:59 am: $0.3131
The final cryptocurrency that we have been keeping track of has not bucked the trend, unfortunately. A 28.92% loss in value saw it fall to $4.25 at the cut off for our weekly crypto report. When you consider it reached a high of close to $8 in the last month, this is quite the comedown.
Also, while many other cryptocurrencies are still well up over a three month period, EOS is one that is actually down. In fact, it is down close to 24% on its value from three months ago.
Wednesday saw the biggest drops this week but its losses have come consistently each day in fairness. Let's hope that investors in this cryptocurrency have a bit better news when it comes to our next report.
Start – 7/9/19 11:59 am: $5.98
Finish – 7/16/19 11:59 am: $4.25
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