Weekly Crypto Report November 20 to December 3

    News and Updates

     

    It was another week of lows for all 7 of our cryptos. BTC and ETH have shown the biggest positive movements from high to low over the 2 weeks, while ETH recorded the highest loss over the course of the 2-week period after -16.99% was shaved off its value and LTC a close second with recording a -16.49% loss.

    Over the last 4 weeks, we have seen the value of these cryptos marked down considerably, and we never expect the market to suddenly jump into gear. That said, BTC trading has increased as low prices have sparked investors to plow in their cash most likely in anticipation of the next BTC halving.

    Here are the latest movements for 00:00 am on Wednesday (20/11/19) to 23:59 pm Tuesday (3/12/19) using Coindesk GMT +7 data.

    Bitcoin (BTC) – Down $747.28 (-13.52%)

    Biggest positive movement: +19.04% (14-day period)

    After BTC took a hit in our previous 2-weekly report, the hope was that it would recover, but no such luck. It was an abysmal 2 weeks for investors and especially those that have been reinvesting in BTC since the crypto has been hyped up after its magnificent rise from $4,000 to above $9,000.

    Last time around BTC was down $1,260.84 over 2-weeks meaning it would begin this report starting at $8,073.24. IT took an almost immediate hit right after when on the 22 November the price was $7,549.72 (-6.48%), and from this, the next day it dropped again -6.94% to $7025.85, which meant BTC had already dipped -12.97% and -$1,047.39 on the 2-week start rate.

    The downtrend continued as BTC dropped to its lowest point over the 2-week period valued at $6559.97, which was now 18.74% shy of the start of this report and it was only the 25 November.

    BTC did start to recover some of those losses over the 27 to 29 November when it reached $7809.03, which was the biggest positive movement over the 2 weeks up from $6559.97 (+19.04%). Let’s just say anyone that invested on the 26 November would have made a nice profit by 29 November.

    In the end, our 2-week report saw BTC finish at $7325.96 on 3 December after it dropped off -6.19% from that 29 November recovery thus leaving BTC down $747.28 (-9.26%) in 2 weeks. Over 4 weeks that’s a massive loss of $2008.12 (-21.51%) from $9334.08.

    Start – 20/11/19 00:00 am: $8,073.24

    Finish – 3/12/19 23:59 pm: $7325.96

     

    Bitcoin (BCH) – Down $25.60 (-10.72%)

    Biggest positive movement: +12.09% (14-day period)

    BCH was another casualty in the current crypto market decline as it also reported heavy losses. There were 3 key dropping points over the first week before a recovery in the last week of this report.

    The very first of those happened on the 22 November when BCH plummeted to $221.38. From here another huge drop in value occurred on the 23 November when BCH hit a new low of $201.56. Finally, the third point in which it dropped in value was on the 25 November when it hit its lowest value of this 2-week report sitting worryingly at $192.94.

    There were also three main points of recovery moving up $214.91 on 26 November, then up to $222.70 on 28 November and finally, ETH hit a high of $225.94 on 29 November. That rise was short-lived however and ETH would end the 2-week period down to $213.23.

    For traders looking for margins, the best points to buy and sell were 23 November when it was $201.56 and then the selling point would have been $225.94 on 29 November. Over those 6 days, BCH rose +12.09%.

    Start – 20/11/19 00:00 am: $238.83

    Finish – 3/12/19 23:59 pm: $213.23

     

    Litecoin (LTC) – Down $9.03 (-16.49%)

    Biggest positive movement: +16.19% (14-day period)

    LTC ran just like clockwork in sync with BTC and BCH with its 3 main drop points wiping off large percentages of its value over 2 weeks. On 21 November LTC fell to $49.61, then on 22 November, it crashed further to $45.78, then dropped over the next 3 days ending up at the lowest we have seen LTC in while - $42.32 on 25 November. Although, on the same day it did come back to $47.04.

    The best LTC could muster up after those declines were $49.17 in value, which was a 16.19% increase. That turned out to be the largest positive margin of the entire 2 weeks.

    Finally, LTC slowly went downhill ending at $45.72.

    Start – 20/11/19 00:00 am: $54.75

    Finish – 3/12/1923:59 pm: $45.72

    Dogecoin (DOGE) – Down $0.000304 (-12.16%)

    Biggest positive movement: +13.68% (14-day period)

     

    DOGE started the week at $0.002500 and during 20 November managed to increase by 3.4% up to $0.002585, before closing slightly lower at 0.002561. This would be the highest closing value of the week, with the price dropping by -5.97% to the 21 November closing mark of $0.002408.

     On 22 November the 2nd major price drop of the week occurred when it dropped to $0.002195 (-8.84%) in the evening. The price recovered by +4.32% to reach $0.002290 by the end of the day. 23 and 24 November did not see major movements, with the price staying between the $0.002290 and $0.002380.

    The 3rd major price drop took place on 25 November when the price fell from the opening value of $0.002312 to a low of $0.002098 (-9.26%). Within a few hours from this drop, the price had returned to previous levels and by the end of the day was at $0.002283.

    The price had a slight upward trend for the next few days, peaking in the morning of 30 November at $0.002385. The next few days were not as positive, with the price dropping by -7.92% to the week’s closing value of $0.002196.

     

    Start – 20/11/19 00:00 am: $0.002500

    Finish – 3/12/19 23:59 pm: $0.002196

     

    Ethereum (ETH) – Down $29.62 (-16.99%)

    Biggest positive movement: +18.04% (14-day period)

     

    Ethereum had 3 major falling points over this week’s 2-week report. The first was a on 22 November when it hit $158.35 with a -9.14% drop. The second occurred on the 23 November when ETH dropped another 9% to $144.09 now -17.32% short of 20 November. Next, a further -8.06% loss was recorded as ETH fell to its lowest value for the 2-week reporting period now showing $132.47 on 25 November leaving it -23.99% off its starting point.

     After this ETH began to recover, but not by much. It hit $156.37 on 29 November giving it an 18.04% boost from that 25 November trough, and at last some positivity. From the 29 November to 3 December ETH lost -7.49% leaving it priced at $144.66.

     4 weeks ago, ETH hit $189.84, but the market’s decline has taken a huge -23.79% (-$45.18) chunk out of it since the 6 November.

     

    Start – 20/11/19 00:00 am: $174.28

    Finish – 3/12/19 23:59 pm: $144.66

     

    Ripple (XRP) – Down $0.02869 (-11.49%)

    Biggest positive movement: +12.83% (14-day period)

     

    XRP started the week off on a positive note with a rise of +2.58% in less than 8 hours from the beginning of the day. This, however, would be the highest point of the week at a price of $0.256003. From here the coin continued to seesaw for the next few days, with a general decline being observed. XRP closed on 24 November at $0.226394, -11.56% down from the week’s highest value.

     

    On 25 November XRP experienced a major drop, along with many cryptocurrencies. The coin started the day at $0.226394 and decreased by -9.23% to 0.205487 by midday. This was the lowest value of the week and from here the coin quickly recovered before closing +7.62% higher at $0.221154.

     

    The price remained relatively stable after this point, with a gradual increase of +4.83% observed over the next few days until the highest value of $0.231849 of the 2-week period on 29 November. After this peak, the price dropped another back to $0.229760 (-0.90%) by the end of the day. The remainder of the week saw the price decreasing a further -4.09% to XRP’s lowest point in 2 weeks when it hit $0.218492 on 2 December, before stabilizing and ending the week at $0.219777.

     

    Start – 20/11/19 00:00 am: $0.249564

    Finish – 3/12/19 23:59 pm: $0.220874

     

    EOS.io (EOS) – Down $0.35 (-11.43%)

    Biggest positive movement: +14.34% (14-day period)

    EOS is another cryptocurrency to witness a sharp downturn in value throughout the last two weeks. Within just the first five days of this two-week period, EOS had suffered a -22.54% drop in value to hit its lowest value since January 2019 of $2.37. 

    A recovery did ensue with EOS slowly increasing its value for the next six days culminating in value as high as $2.82. That value would then drop slightly in the days before the cut off for this report to finish on $2.71.

    The best window of opportunity for day traders would have been between Monday the 25th of November with a low of $2.37 and a high of $2.82 being recorded on both the 30th of November and the 1st of December.

    The last month for EOS has proven to be a difficult one. Priced at $3.35 on the 3rd of November, the cryptocurrency has now lost 19.10% of its value over 4 weeks.

    Start – 20/11/19 00:00 am: $3.06

    Finish – 3/12/19 23:59 pm: $2.71

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