Weekly Crypto Report October 23 to November 5

    News and Updates

    Over the last 2 weeks, we have seen BTC rise over the $10,000 mark causing all kinds of new predictions to hit the crypto wires, and we have seen BTC celebrate its 11th birthday.

    In this report, we cover 2 weeks of crypto movement, which gives us much more to talk about and a different angle to the usual weekly reports you see. Over the last 2 weeks, we have seen plenty of ups and downs with all 7 cryptos reporting heavy losses on 23 October. At the time, all 7 also reported sharp recoveries as they all went on their own mini bull runs and many appear to still be going strong into Wednesday.

    BCH was the star of this week’s report after rising a confounding +47.37% from its low point to its high point over 2 weeks. It also reported the largest percentage gain for the 2-week period after adding +25.89% to its value worth a blistering $59.39 increase per BCH.

    DOGE was the only loser after it dipped, rose, and dipped again losing $0.000103, which amounted to a -3.85% 14-day loss in value.

    Here are the latest movements for 00:00 am on Wednesday (23/10/19) to 23:59 pm Tuesday (5/11/19) using Coindesk GMT +7 data.

    Bitcoin (BTC) – Up $1,111,96 (+13.52%)

    Biggest positive movement: +36.78% (14-day period)

    It has been an eventful 2 weeks for BTC. Firstly, we have to say happy birthday as Bitcoin celebrates its 11th year in action. Over the cryptos short existence, the coin has shot up from zero to hero and is now worth over $9,000.

    However, that $9,000 mark has been under threat as of late with a drop a to $7,363.45 on the 24 October leaving it 10.44% below its 22 October starting valuation in this report. At that point, it is fair to say most investors were ready throw the towel in as BTC looked to be heading back to the $4,000 mark.

    Just 2 short days later on the 26 October BTC finally made the recovery we have all been hoping would come when it shot up to $10,071.47 back over that elusive $10,000 mark. This was highest price difference over the entire 2-week period with the difference between its 24 October low point and the 26 October high point being a staggering 36.78%.

    With such a huge fluctuation, there really were no more highlights over the last 2 weeks. BTC has since dropped below the $10,000 mark and met price resistance between the $9,000 and $9470 mark between from 26 October up until 5 November. The margin between these figures being just 5.22%. As it stood at the end of the day on 4 November BTC was worth $9334.08.

    Start – 23/10/19 00:00 am: $8222.12

    Finish – 5/11/19 23:59 pm: $9334.08

     

    Bitcoin Cash (BCH) – Up $59.39 (+25.89%)

    Biggest positive movement: +47.37% (14-day period)

    As a hard fork of Bitcoin, naturally, BCH also gained huge values. On 23 October, BCH started by dropping to $204.92, which was its lowest point in value over the course of this 14-day report. This initial drop wiped off 11.91% from the starting valuation of $229.33.

    Nonetheless, it would only take a couple of days before, in similar fashion to BTC, BCH would skyrocket to over $300 with several spikes along the way to get there. Unlike BTC’s singular almighty push, it took BCH a little longer with 2 big spikes to get it there.

    The first of those pushes came on 26 October when BCH flew up to $276.77 now 20.67% above the 23 October starting point in this report. BCH then took a slight hit over the next 48 hours falling to $255.85 before slowly rising back up again. This is when its second push came taking a huge leap to $292.93 on 29 October and now worth 27.73% more than the 23 October starting point in this report.

    After its huge bull run, BCH then peaked at its highest point over the 14-day period on 30 October surpassing the $300.00 mark when it hit $302.00 exactly, which was now 31.69% higher than its 23 October starting point in this report. The difference between its 23 October low point of $204.92 and the new 30 October $302.00 high point was a staggering 47.37% marking the biggest percentage change over 14 days.

    That said, BCH did not hold out above $300 for long as by 1 November it was back under the $300 mark now worth $271.92. Nonetheless, it has since recovered slightly and is closing back in on the $300.00 after ending this report’s 14-day period valued at $288.72.

    Start – 23/10/19 00:00 am: $229.33

    Finish – 5/11/19 23:59 pm: $288.72

     

    Litecoin (LTC) – Up $8.87 (+16.25%)

    Biggest positive movement: +23.58% (14-day period)

    LTC is another hard fork of Bitcoin, and once again the trends were similar to BTC and BCH, although, LTC’s price performance showed a lot more turbulence with severe fluctuations in value.

    The very first of those fluctuations was an initial 23 October devaluation of LTC to $48.48, which would turn out to be its lowest point in value for the entirety of this report’s 2-week coverage. Percentage-wise this low point meant that 11.16% of its 23 October starting value had been wiped off. Yet, within a 36 hours LTC was back in the money.

    On 26 October LTC shot up to $61.82. It then dropped to $55.18 on 27 October before sharply rising again – this time to $62.19 and then another small spike saw it rise to $62.22. However, LTC’s peak had still not been reached at this point in time.

    Its peak would come much later after LTC stabilized between $57.00 and $59.00 from 30 October to 4 November. It then went on yet another unexpected bull run rising to its peak value over this 2-week report when it hit $63.44 by 11:59 pm on 5 November. The difference between its 23 October low point of $48.48 and its 5 November high point of $63.44 was 23.58%.

    Start – 23/10/19 00:00 am: $54.57

    Finish – 5/11/19 23:59 pm: $63.44

    Dogecoin (DOGE) – Down $0.000103 (-3.85%)

    Biggest positive movement: +19.03% (14-day period)

    DOGE behaved in exactly the way as the aforementioned 3 cryptos at the start of this report’s 2-week reporting period, but then dropped off to record a loss.

    It began by failing to $0.002378 on 23 December and then peaked to its high point of $0.002837 on 26 October. Between 27 October and 4 November, DOGE stayed between $0.002647 and $0.002492 before finally finishing at $0.002572 at 11:59 pm on 5 November.

    The difference between its 23 October low point of $0.002378 and its 26 October high point of $0.002837 was 19.03%.

    Start – 23/10/19 00:00 am: $0.002675

    Finish – 5/11/19 23:59 pm: $0.002572

    Ethereum (ETH) – Up $17.06 (+9.87%)

    Biggest positive movement: +22.79% (14-day period)

    ETH had an early drop to $158.32 on 23 October much like all the other cryptos reported here. It then made a sharp rise as it spiked up to $194.41 just 2 days later on 26 October – this was to be its highest value during this 2-week mBit crypto report. ETH didn’t hold on above the $190 mark for long after losing momentum, and so it would finish the day worth $179.23.

    It then remained between the $182 and $184 mark for the rest week right up until another small increase up to $187.01 on 5 November. It continued to rise to finish the day, and this 2-week report, valued at $189.84.

    The difference between its 23 October low point of $158.32 and its 26 October high point of $194.41 was 22.79%.

    Start – 23/10/19 00:00 am: $172.78

    Finish – 5/11/19 23:59 pm: $189.84

     

    Ripple (XRP) – Up $0.006834 (+2.12%)

    Biggest positive movement: +13.95% (14-day period)

    If you have gotten this far into our crypto report, then it probably comes as no surprise that XRP followed exactly the same pattern as all the other cryptos. We can cut straight to chase and tell you that the difference between its 23 October low point of $0.266108 and its 26 October high point of $0.309235 was 13.95%.

    Its initial drop to that low point compared to this report’s 23 October starting point was 9.49%. Also, between the peak valuation on 26 October and the end of the week’s finishing value, XRP fell to as low $0.287746 before recovering 4.36%.

    Start – 23/10/19 00:00 am: $0.294033

    Finish – 5/11/19 23:59 pm: $0.300867

     

    EOS.io (EOS) – Up $0.63 (+17.45%)

    Biggest positive movement: +24.15% (14-day period)

    EOS also showed the same trends with two main spikes over the week. Initially, it dropped to $2.67 on 23 October before rising up to 23.49% to $3.49 on 26 October. It did slip 14.05% to $3.06 before regaining 13.06% back and hitting its peak for this 2-week report, which was $3.52.

    The rest of the week thereafter was bumpy holding between $3.20 and $3.40 until the 5 November when it started the day valued at $3.46 after a late Monday 4 November rise of 6.64% from a low point of $3.23. Over the course of Tuesday, EOS gained 4.34% finishing up at $3.61 at 11:59 pm.

    The difference between its 23 October low point of $2.67 and its 27 October high point of $3.52 was 24.15%.

    Start – 23/10/19 00:00 am: $2.98

    Finish – 5/11/19 23:59 pm: $3.61

     

     

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