Another week has gone by in the cryptocurrency markets and we have to say that many of you are going to be quite happy with how many have performed. Bitcoin, in particular, has once again enjoyed a large increase in value which we’re sure will appeal to most of you.
The rest of the cryptocurrencies did not have quite as much success but pretty much all of them that we have been tracking enjoyed an increase in value. In fact, it was only Ripple that had to make do with a small increase in value and even that was not all that damaging.
So, if you have any of the cryptocurrencies that we track on a regular basis in your portfolio, check out our short recap on how each of them performed in the market across the past seven days.
Well, if you were holding on to Bitcoin and were looking for a reaction to a disappointing couple of weeks which saw around 23% of its value lost, you just got it. In the last seven days alone, its value has gone up by more than $2k and 21%.
That may not have recouped all of those losses but they are tiny in the grand scheme of things and when you consider that the price of BTC has increased 93% over the last three months. Those increases were starting to look under threat but once again the world’s leading cryptocurrency has come bouncing back.
That value has been increasing on a day by day basis gradually since our report but the biggest jump was definitely on Friday when Bitcoin gained more than $500 in value.
Start – 7/31/19 00:00 am: $9,688.02
Finish – 8/6/19 11:59 pm: $11,734.30
Bitcoin Cash suffered in the early part of July but in the last few weeks, its value has consistently increased. Our previous two reports saw increases of 3% and 4.85% respectively and the month has now finished up with another increase of more than 10%.
That is still 20% of its value that has been lost since the start of July which is disappointing. Now you do have to remember, however, that BCH within this year has seen its all-time low of $75.08, so just nine months on, sitting with a value that is more than four times that is pretty good going.
Start – 7/31/19 00:00 am: $307.19
Finish – 8/6/19 11:59 pm: $339.94
July proved to be a bit of a difficult month for a number of cryptocurrencies and this was again the case for Litecoin. It had previously enjoyed a strong value of close to $130 coming into the month but they consistently decreased as the weeks passed.
That said, it did end the month with a bit of an increase and perhaps this is a positive sign to take into August. It should also be remembered that the LTC is still a good 20% up in value compared to what it was 90-days ago.
Start – 7/31/19 00:00 am: $90.23
Finish – 8/6/19 11:59 pm: $94.60
It is starting to looking like a solid week for pretty much all cryptocurrencies so far. At least those that we are tracking anyway. Dogecoin is another that why nothing spectacular, is a cryptocurrency that has performed well in the markets and seen its value increase by just over 3%.
This has it sitting just under 20% better off than it was at the start of May, something that we are sure those with it in their portfolio will be more than happy about. Can it continue to bring good news for investors in August, guess we will all have to wait and see?
Start – 7/31/19 00:00 am: $0.002884
Finish – 8/6/19 11:59 pm: $0.002979
Ethereum keeps the trend going having seen a solid increase in the value of around 7.5% in the last seven days. Previously valued at $212.29 its value has steadily increased on a daily basis to end up at $228.93 just in time for the cutoff for this report.
Ethereum certainly seems to be a little more volatile when compared to Bitcoin. This latest increase in value will feel great for holders but in the last month, ETH is still down 22%. Of course, we can still look back to three months ago and be happy with a 27% gain since then but many more months like July will quickly see that gone.
Start – 7/31/19 00:00 am: $212.29
Finish – 8/6/19 11:59 pm: $228.93
There always has to be one that likes to spoil the party and, on this occasion, that party pooper is Ripple. Despite being the only cryptocurrency on our report to lose value this week, it has to be said that it really is a small drop of just 1.12%.
The previous two reports had it a combined 5% up in value so this drop will not be too worrying for anyone holding it.
It was actually looking like it could have been a lot worse until its value sharply increased on Monday and Tuesday. It had gone as low as $0.309688 earlier in the week but then managed to recoup those losses throughout the remainder of the week.
Start – 7/31/19 00:00 am: $0.318790
Finish – 8/6/19 11:59 pm: $0.315203
XRP did its best to derail a good week in the cryptocurrency markets but EOS.io has come along and given us all the happy ending that we would have liked. It has earned a small increase of value to $4.31 something that was not as straightforward as you might have thought.
The value of EOS actually fell to as low as $4.11 on Saturday just gone before bouncing back somewhat and then actually increased to a weekly high of $4.52 before toppling down to the value that it currently has.
Start – 7/31/19 00:00 am: $4.25
Finish – 8/6/19 11:59 pm: $4.31
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