Weekly Crypto Report (Oct 3 – Oct 10)

    News and Updates

    It was another consistent week for early all the cryptos in our report with some small gains and ever so slight losses across the board. BTC and ETH continue to remain stable from week to week.  ETH may look to be consistent, but from week to week it still seems volatile as it fluctuates dramatically. This week LTC showed the same signs as ETH as market data reports from day to day and hour to hour showed plenty of highs and lows.

    XRP, LTC, BCH, and DOGE all reported losses. That said, they were reasonably stable with very few spikes throughout the week and for the most part, the losses were negligible for anyone investing in these cryptos apart from XRP. Although Ripple’s XRP has performed well over the last 45 days, we would have hoped it would have held its value a little better, but this week it slumped by 15%.

    Here is the round up for BTC, ETH, XRP, LTC, BCH, and DOGE from 11:59 pm October 3rd to 11:59 pm October 10th.

    Bitcoin (BTC) – Increase by 0.89%

    Another good week for BTC to report. Overall it was a quiet week with a quick lift on Thursday from the finishing October 3rd value up to $5593.60 around 9 am on Thursday, October 4th. At this stage, BTC stayed very fluent throughout the week and further rose to $6,622.02 on Saturday.

    More good news as Monday came around as incremental rises in value continued up to $6666.73 and the small increases kept on coming right into Tuesday where there was a peak of $6,672.69, which was BTC’s highest value for the week.

    Things did take a small turn for the worse as there was sump to $6613.77 by the end of play Tuesday, and then on Wednesday, there was a sharp fall to $6541.66 just after midday. However, just as people were assuming this was going to be another sinking ship after a consistent performance over the previous 6 days, BTC started to head back up in the right direction throughout the rest of the day.

    By Wednesday 11:59 am October 10th BTC ended at $6559.12 – a 0.89% increase.

     Start – 10/3 Wed 11:59 am: $6,506.51

    Finish – 10/10 Wed 11:59 am: $6559.12


    Ethereum (ETH) – 4th Consecutive Week ETH Has Increased

    What a week for ETH again! Last week this crypto fluctuated immensely, and this week was no exception as ETH continues to be one of the most volatile currencies in our report. The good news is that this is the fourth consecutive week Ethereum has reported an increase.

    On Wednesday evening there was a huge drop down to $215.49 and then down to $213.97. Investors can be forgiven for panicking if they were online at the time, but the kink in ETH’s armor was just temporary. Just as quickly as it dopped it was back up to $221.12 by midnight.

    Moving into Thursday and ETH was back on an upwards trend peaking at $226.15. It dropped to $225.03, which was Friday’s highest value and then up to $227.63 on Saturday. However, by the end of Sunday, it was down to $223.56.

    Over the course of the week, there were highs and lows with $230.63 being the highest value early  Tuesday morning. By Tuesday afternoon ETH was valued at $230.10 before moving into Wednesday where in exactly the same fashion as last week the value dropped and ended the week at $225.61, which is still up from last week.

     Start – 10/3 Wed 11:59 am: $221.11

    Finish – 10/10 Wed 11:59 am: $225.61


    Ripple (XRP) – 15% Loss

    XRP has always been a slow boil cryptocurrency with slight upward and downward swings. Last week there was a $0.01 decrease, so nothing to be concerned about. However, that decline continued into this week. It all started so well with Thursday afternoon reporting a $0.55 valuation. However, that was the beginning of a slow decline.

    By Sunday evening XRP was worth $0.51, down just $0.02 from this week’s starting value. Nonetheless, things took a turn for the worse early Sunday morning as the crypto tumbled to $0.47. Throughout the rest of the week, it remained at between $0.47 and $0.49 before finally dropping off to finish down by 15% from last Wednesday.

    Start – 10/3 Wed 11:59 am: $0.53

    Finish – 10/10 Wed 11:59 am: $0.46


    Litecoin (LTC) – Another minor loss of $0.09

    Much like ETH, LTC fluctuated all week. It began at $57.91 and was down to $57.16 early Thursday morning, but by Saturday all was well as LTC rose to $59.05. That was, of course, temporary as by Saturday evening it was worth $57.40. For the rest of the week, it was hard to know where the value would land as it was anyone’s guess.

    On Tuesday morning LTC spiked to $59.82, then throughout Tuesday and Wednesday, it started to gradually depreciate to its final value of $57.82 losing just $0.09.

    Start – 10/3 Wed 11:59 am: $57.91

    Finish – 10/10 Wed 11:59 am: $57.82


    Bitcoin Cash (BCH) – Lost just 1.1% in value  

    It was a very stable week for BCH with no dramatic incidences to report as we saw with LTC and ETH. The much talked about crypto hit its low for the week on Sunday morning, which was $502.54. From Sunday onward it just continued to climb up to a peak of $530.67 on Tuesday morning. After it peaked there was a slow decline to $509.84 leaving BCH down by just over 1% from the week’s starting valuation.

    Start – 10/3 Wed 11:59 am: $515.27

    Finish – 10/10 Wed 11:59 am: $509.84


    Dogecoin (DOGE) – 1.7% Down for the week

    After last week’s 1% loss, there was nothing to worry about at all as DOGE was up 25% in September from the end of August 2018’s valuation. This week was not so great.  It was by no means a volatile week with up and downs, just a with a sluggish decay in value. On Sunday evening DOGE already got its lowest point of the week out the way with when it hit $0.005504.

    From Sunday DOGE started to make a leisurely climb back up hitting $0.005649 on Monday evening, and then things remained pretty flat for the rest of the week. On Wednesday at 11:59 pm DOGE was valued at $0.005575 losing just 1.7% over seven days.

     Start – 10/3 Wed 11:59 am: $0.005669

    Finish – 10/10 Wed 11:59 am: $0.005575

    From the category

    Can Tainted Bitcoins Really Exist?

    11.02.2020 By james-donaghue

    In the eyes of some, there exists Bitcoin that is less than pure as a result of connection with criminal activity, and should therefore be regarded as...

    Nearly $37.5 million in Bitcoin for sale by the US...

    08.02.2020 By james-donaghue

    US Marshals office to auction off nearly $37.5 million in seized Bitcoin on February 18th. On February 18th, we will see a sizable Bitcoin auction. W...

    Coronavirus Outbreak has Stock Traders Concerned w...

    04.02.2020 By james-donaghue

    Crypto investors are in the greed phase with BTC's upsurge is in full swing, while stock markets drop globally as fears and emotions get the better of...

    Ripple Eyes IPO in Midst of Huge Volatility in Cry...

    31.01.2020 By james-donaghue

    Brad Garlinghouse and his team cause a stir in the crypto world, hinting Ripple IPO is a natural evolution for his company. Today’s briefing sheds lig...