Last week would have pleased cryptocurrency investors as only one of the cryptocurrencies that we have been tracking lost value. This time around though, the reverse can be said as all but one has now gone and lost some value.
The biggest losers were Litecoin and Ethereum with both recording a loss in value of around 10%. Bitcoin Cash was the only currency to show an increase and even this was very negligible at 0.07%.
Keep reading to learn more about the seven cryptocurrencies we are tracking to see how they have performed in the last week.
Generally speaking, you can usually get a fair idea of how our weekly crypto report is going to go based on the performance of Bitcoin. Once again this is true as most other cryptocurrencies have also suffered a drop in the value of varying sizes, just like BTC has.
A loss of 6.70% is far from huge when it comes to Bitcoin and with an increase of 21% last time around more than offsetting that loss in value, there is little need for holders to worry just yet. Just think back a few months when its value was half what it is right now.
The highs and lows respectively throughout the last seven days for Bitcoin were $12,065.23 last Wednesday and $11,257.49 on Sunday just gone. It was also Saturday that suffered the biggest single drop in value with another big drop coming just before our cut off for this report.
Start – 8/7/19 00:00 am: $11,734.30
Finish – 8/13/19 11:59 pm: $10,947.24
If there was one cryptocurrency that did not get the Bitcoin memo this week, it was Bitcoin Cash. While all other cryptocurrencies on our report have suffered varying losses in value, BCH has actually enjoyed an increase.
It should be said that this increase is practically nothing though at just 0.07%. This is still better than a decrease however and considering it is the 4th straight week of value increases for the crypto – things are looking great. It is now a good 17% up in just three weeks.
Start – 8/7/19 00:00 am: $339.94
Finish – 8/13/19 11:59 pm: $340.21
Tracking Litecoin is a topsy-turvy affair of late. One week it gains value, the next it drops value and so on. This week is one of the latter unfortunately as LTC has dropped double what it had previously increased in value in our last report.
It has dropped just under 11% of its value which is basically around $10 of the value of its cryptocurrency. Looking at the charts, that value has been lost consistently each day since our last report. There was a shred of recovery on Monday just gone but that was short-lived.
One potential positive is that the volatile nature of this crypto means that there is a good chance of there being a value increase next time around.
Start – 8/7/19 00:00 am: $94.60
Finish – 8/13/19 11:59 pm: $84.34
Dogecoin (DOGE) – Down $0.000172 (5.77%)
It has been a consistent loss of value for Dogecoin on almost a daily basis since our last report. In total it has seen 5.77% of its value shaved off which takes away its gain of last week’s 3.29% and some more on top.
It is still performing very well compared to the start of May however with it a good 17% up in value since then. The only question is whether it will once again recoup these losses and continue to increase in value over the next months or will it now start to level out.
Start – 8/7/19 00:00 am: $0.002979
Finish – 8/13/19 11:59 pm: $0.002807
Ethereum is another cryptocurrency that has not had the best of weeks in the markets. In fact, the 7.5% value increase that it had enjoyed last time around has now all been wiped away with a further 2.5% being shed on top. In total, ETH has seen a good 10% of its value lost in the last seven days.
With the market seemingly shifting up and down from one week to the next it would at least point to a good chance of the value of this cryptocurrency once again increasing in coming weeks. That said, Ethereum has not enjoyed anywhere near the value increases over the last few months compared to the likes of Bitcoin.
Start – 8/7/19 00:00 am: $228.93
Finish – 8/13/19 11:59 pm: $205.81
Ripple (XRP) – Down $0.021117 (6.69%)
This week also sees that the value of Ripple drops for the second consecutive report. Last time around it lost just 1% of its value but the last seven days have brought a further reduction of 6.69% off the value of this popular cryptocurrency.
It could have been quite a lot worse for Ripple though as on Saturday its value had dropped to one of the lowest it has been in the last month of $0.291164. Since then XRP recovered to get as high as $0.305401 in the early hours of Monday morning before once again dropping back down to where it finished at the cut off for this report.
Start – 8/7/19 00:00 am: $0.315203
Finish – 8/13/19 11:59 pm: $0.294086
As always, we finish our weekly crypto report with that of EOS.io and this has endured a similar week to that of Ripple. It has dropped more than 6% of its value to take away from the 1.41% it had gained in our previous report.
All in all, it's not been a bad few weeks for EOS despite this loss of value and we expect there to be as many more ups as there are downs coming its way in the next month.
EOS has actually recovered in the last few days as it had its lowest value in the past few weeks of $3.87 on Friday. The cryptocurrency recovered well over the weekend and has since enjoyed a fairly stable week.
Start – 8/7/19 00:00 am: $4.31
Finish – 8/13/19 11:59 pm: $4.04
It had been a pretty depressing past few weeks with regards to our cryptocurrency reports. Apart from the odd few, each report brought consistent loss...
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 ...
Could cryptocurrencies really start to break into the world’s economy as a mainstream payment method? So far, the notion of any cryptos becoming a ma...