Weekly Crypto Report July 16 to 23

    News and Updates

    The market the last week seems to have been a lot more settled with no real major swings in either direction for the cryptocurrencies that we are tracking. This has led to a rather mix mash in terms of the cryptocurrencies as some are up a small amount while some are down a small amount.

    Ethereum was the biggest loser this week with a loss in value of just under 8% while the biggest winner in terms of value was Litecoin which enjoyed a decent 5% price increase. All in all though, the markets have certainly calmed for now – though will that be the same when we come to putting out our next weekly report?

    Bitcoin (BTC) – Down $520.39 (4.85%)

    Following on from the near 15% drop in value from our last report, Bitcoin has again seen some of its value shed. It has lost a further $520 which is about 5% of what it was previously worth.

    This means that it is down a little more than $1,000 or 10% in the last month alone. More importantly, however, is the fact that its value is still a good 85% up in the last three months. Could this gradual decline in price over the past few weeks be down to many investors deciding to sell while they have a chance during this revival?

    Wednesday last week is when BTC suffered its biggest drop but the following day it did manage to recoup a lot of it back. Still, it wasn’t a good enough recovery to get it all back.

    Start – 7/16/19 11:59 am: $10,734.47

    Finish – 7/23/19 11:59 am: $10,212.08

     

    Bitcoin Cash (BCH) – Up $4.22 (1.37%)

    While a small increase of 1,37% is hardly anything to write home about, it will at least stop the rot of a couple of weeks of decrease. Last week alone the BCH lost 27% of its value so to put a halt on those losses will be seen as a positive.

    On Saturday the price of Bitcoin Cash was really starting to boom with it hitting a high of $336.85 but by the end of the weekend, it had once again fallen to around $317. The next couple of days then saw it gradually drop a bit further for it to finish with the value in this report.

    Start – 7/16/19 11:59 am: $307.78

    Finish – 7/23/19 11:59 am: $312.00

     

    Litecoin (LTC) – Up $4.34 (4.86%)

    Litecoin also jumped up in value over the last week after enjoying an increase of just under 5%. This increase in value means that the LTC is now valued at close to 30% more than it was three months ago.

    Litecoin initially suffered a large drop to $78.65 a day after our last report but just a day later that loss in value had jumped back. On that very same day, the value increased further in the evening to see it over the $100 mark. It stayed close to that value for the next few days before dropping to what it is now on Monday.

    Start – 7/16/19 11:59 am: $89.31

    Finish – 7/23/19 11:59 am: $93.65

     

    Dogecoin (DOGE) – Down $0.000072 (2.36%)

    The fortunes of Dogecoin seem to have taken a similar path to that of Bitcoin rather than Bitcoin Cash or Litecoin in the past couple of weeks. It has just come off a drop of close to 15% in the previous week but rather than have a slight increase, it has suffered another drop albeit small.

    It was actually looking quite good for the cryptocurrency in the latter part of last week with it actually reaching a high of $0.0003162 on Thursday. By the time the weekend had come to an end however, that had all but gone with even more losses on top. During the remaining period for this report it did manage to climb back up somewhat but a little short on its previous value.

    Start – 7/16/19 11:59 am: $0.003052

    Finish – 7/23/19 11:59 am: $0.002980

     

    Ethereum (ETH) – Down $17.66 (7.74%)

    Ethereum is another cryptocurrency that has struggled in weeks despite a massive upturn in their fortunes in the past few months. In the last week, its value has fallen by $17.66 which is close to an 8% drop.

    It was the early hours of Thursday that saw the largest drop over the past seven days but it actually managed to recoup all of that back before then falling again gradually over the last few days.

    Despite the obvious concern of losing value in consecutive weeks, the mood of investors must still be high considering the cryptocurrency is still 35% more valuable than it was three months ago.

    Start – 7/16/19 11:59 am: $228.02

    Finish – 7/23/19 11:59 am: $210.36

     

    Ripple (XRP) – Up $0.0047 (1.5%)

    While any kind of gain in value has to be seen as good news, a small increase is not going to help the mood much considering Ripple dropped 22% of its value the week before. That said, up is better than down and Ripple rose in value to the tune of 1.5% in the past week.

    Additionally, looking at the bigger picture, at least Ripple is looking better than it did a good three months back.

    Sunday just gone was where the majority of that increase can as it actually hit a high of $0.3391. By Monday though, a good chunk of that progress was wiped out to see it where it was left for this report.

    Start – 7/16/19 11:59 am: $0.3131

    Finish – 7/23/19 11:59 am: $0.3178

     

    EOS.IO (EOS) – Down $0.19 (4.47%)

    EOS suffered a massive drop in our last report of just under 30% and while far from as bad, it has once again suffered a loss in value. The cryptocurrency was valued at $4.06 at the cut off for our weekly report, an amount down 4.47% from our last report.

    Things certainly could have been worse as it actually dropped to a weekly low of $3.62 in the early hours of Wednesday. It gradually recovered that loss and even go to a high of $4.40 before dropping again the hours before the cut off time.

    The good news is that at the time of writing this report, the value of EOS has been on a steady upward curve even hitting highs of $4.67.

    Start – 7/16/19 11:59 am: $4.25

    Finish – 7/23/19 11:59 am: $4.06

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