Our last report was hardly the bearer of good news and we have to say that once again, the cryptocurrencies that we have been tracking in the markets have all lost value. Sure, they are fairly small losses this week but a loss is still a loss.
DOGE and ETH were the biggest losers at around 5% of their value dropped Litecoin suffered the least. Bitcoin dropped a percentage somewhere in the middle of the two but will be hoping that it can start to see some more increases going forward.
So, take a look at how the markets have been for the following cryptocurrencies:
Unfortunately, this week becomes the third successive week in which Bitcoin has lost some value in the cryptocurrency markets. The previous two weeks saw a combined loss of 9% coming off its value and this has been compounded with another 3.29% this time around.
Admittedly, in a market that can see regular losses of 12% in just a few days, those losses being spread over the last three weeks is hardly big news. That said, investors will certainly be hoping that BTC can start to buck the trend and start bringing some gains back.
Also, it could have been worse as BTC actually hit a weekly low of $9,818.54 last Thursday. It has since managed to recover with Monday seeing most of that lost value regained. We do have to say though, that as of writing this report, the value has fallen close to that 10k marker once more.
Start – 8/21/19 00:00 am: $10,739.17
Finish – 8/27/19 23:59 pm: $10,385.14
Another cryptocurrency suffering slightly in the last seven days is that of Bitcoin Cash. BCH had previously been one of the better performers in recent weeks but that seemed to stop in our last report with a drop in the value of 6.84%. Another drop in the value of 2.52% has come around this time which means a loss in value of close to 10% in the last two weeks.
At the start of August, BCH sat with a value of $324.10 so despite some good weeks, it is still down a combined total of just under 5% this month.
Start – 8/21/19 00:00 am: $316.91
Finish – 8/27/19 23:59 pm: $308.90
Litecoin has also suffered what in isolation is a small loss of value. 1.56% is nothing to write home about but you have to consider the 20% or so that the cryptocurrency had previously lost in our last two reports as well.
In fact, since hitting a monthly high of $102 in the first week of August, LTC has consistently lost value since. In actual fact, it has lost 25% of its value since and this is not going to look good for those that have LTC in their portfolio right now.
They will just have to hope that the currency needs to bottom out a little before bouncing back and growing in value once more. That is far from unheard of in the volatile cryptocurrency markets as most of you will know.
Start – 8/21/19 00:00 am: $74.66
Finish – 8/27/19 23:59pm: $73.49
In a week where there a few violent swings in the cryptocurrency markets, DOGE with a drop in value of 5.01% is actually the largest among the cryptos that we have been tracking. That shaving of value alone if far from concerning but when you consider the 8% it has already lost in our previous two reports, we’re looking at 13% total in three weeks.
Fortunately, DOGE did enjoy a good week in August to reduce that deficit a little bit so far in August, this cryptocurrency has come down from the $0.002901 it started the month at to $0.002616. That is a loss in value of just under 10%.
Start – 8/21/19 00:00 am: $0.002754
Finish – 8/27/19 23:59 pm: $0.002616
Ethereum was actually just edged out by DOGE this week and is the cryptocurrency that has lost the second largest chunk of value in the last seven days. ETH has actually been one of the worst-performing cryptocurrencies in our report for quite a while now. 14% down in value from our previous two reports and now being down another 4.61% is just the start of the story.
Just to sum up, it has lost a good 30% of its value in about three-months, certainly not news that is going to fill many investors with hope. At the cut off time for our crypto report, ETH had a value of $188.36. Can it start to make some gains in the coming weeks? We would like to hope so.
Start – 8/21/19 00:00 am: $197.46
Finish – 8/27/19 23:59 pm: $188.34
While Ripple has joined the masses once again and lost some value, a drop of just 2.10% this time around might just be seen as a bit of a positive. This is because the previous two crypto reports saw it lose 6% of its value each time.
That is still 10% combined in the last three weeks though. Still, it is not as if Ripple is the only cryptocurrency that has struggled in that time. All of them seem to be having a hard time right now. You never know, we might just get surprised next week with a welcome sea of green.
Start – 8/21/19 00:00 am: $0.274613
Finish – 8/27/19 23:59 pm: $0.268836
Unsurprisingly, EOS has not been able to prevent another whitewash week of losses. Having lost 15% in the last two weeks, losing just 2.19% will actually seem like an improvement for EOS.io. Unfortunately, having been worth $8.20 at the start of June, we do not think that losing more than 56% of its value since will be going down to well at all for those that invested.
EOS is a fairly young cryptocurrency in comparison to many others in our report, so there is always the chance that it can start to come the other way at some point.
Start – 8/21/19 00:00 am: $3.65
Finish – 8/27/19 23:59 pm: $3.57
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