Weekly Crypto Report October 9 to October 15

    News and Updates

    XRP has a great week as it continues to run from hot to cold and hot again. This week it was one of the top performers with a 4.07% increase in value. Only DOGE beat this with a 7.25% rise. ETH was next in line with another stable week, but only a 0.38% increase.

    As for BTC, BCH, LTC, and EOS, we saw valuation drops across the board. That said, the percentages are low and there is nothing out of the ordinary to report. Quite a few cryptos have been slowly declining since mid-year which most already been predicted.

    Here are the latest movements for 00:00 am on Wednesday (10/09/19) to 23:59 pm Tuesday (10/15/19)

    Bitcoin (BTC) – Down $43.32 (-0.53%)

    Last week we were giving away spoilers for BTC. We could see that BTC was increasing on Wednesday which it did. However, that was short-lived as BTC opened on Wednesday morning at $8,216.79, rose to $8,593.16 (+4.58%) by Thursday morning, and then ended the week valued at $8173.48 (-0.53%).

    The fall back to the end of week price level began just before the weekend after a Friday drop in value that saw BTC open on Saturday morning valued at $8,278.05. There was a short weekend increase to $8,316.66, but by Monday morning BTC opened at $8,266.34 rose to begin Tuesday morning worth $8363.94 and then finally drop to close the week worth $8173.48 by midnight Tuesday just -0.53% down from last week.

    BTC is said to be at a price resistance level of $8,328 and $8,415 and it is unlikely to break through any time soon. If anything, its value will drop to below $8,000 before making any signs of an end of year Q4 comeback in which many believe it will be worth close to the $10,000 mark when New Year comes calling.

    It is a great time for long term investors to jump on the bandwagon simply because after reading price predictions from many of the top websites following BTC, it appears unlikely BTC is going to drop further. For traders looking to make a fast buck, this week’s highest percentage shift was a +4.58% rise in value on Thursday.

    You can catch up with more of the latest BTC news here where we explain the short term and long term predictions for BTC using opinions from a number of top crypto websites.

    Start – 10/09/19 00:00 am: $8,216.79

    Finish – 10/15/19 23:59 pm: $8173.48

     

    Bitcoin Cash (BCH) – Down $8.17 (-3.54%)

    Bitcoin Cash dropped -3.54% losing last week’s gains, but not creating too much of a stir as the marginal ups and downs are nothing to be concerned about.

    Over the course of Wednesday BTC had made up some good ground rising to $238.55 (+3.5%) by the beginning of Thursday. That was to be the week’s highest upwards swing as BCH’s value declined to $220.60 by mid-night Friday, which was the week’s lowest point.

    On Monday there was a slight rise to $223.02 and by Tuesday BCH opened at $228.02 looking to make a come back on its now -1.06% decline since the Tuesday before. Unfortunately, Tuesday was not a great a day as BCH fell to end at $222.30 down -3.54% from the start of the week.

    Long term investors may want to get in while the price is low as BCH is another crypto expected to do good things over the final quarter of 2019.

    Start – 10/09/19 00:00 am: $230.47

    Finish – 10/15/19 23:59 pm: $222.30

     

    Litecoin (LTC) – Down $2.27 (-3.97%)

    LTC was up last week by just $0.54 (+0.95%), but there was some price resistance throughout this week with no sign of any burst in value. In fact, the week was uneventful with a slow decline in value to breaking even by Tuesday, and finally losing all of its gains and finishing in the red.

    Wednesday was its best day when it finished at $59.85 (+4.65%). Over Thursday it remained stable with a short drop to start Friday worth $57.75. The slow decline continued through the weekend with Saturday and Sunday’s opening values being $56.75 and $56.11 respectively.

    However, Sunday saw price hikes with a rise from $56.11 to start Monday at $57.47 (+2.42%). Over the next 2 days, LTC would then tumble with another short drop to start Tuesday at $56.85 and then finally a -3.39% fall to end Tuesday worth just $54.92; a $2.27 (-3.97%) loss.

    Start – 10/09/19 00:00 am: $57.19

    Finish – 10/15/19 23:59 pm: $54.92

     

    Dogecoin (DOGE) – Up 0.000116 (+7.25%)

    DOGE is still up there despite its low token value. Right now, it has a market cap of $310,087,133, which is ranked number 21 at the time. Although, there are currently 121,647,403,124 tokens in circulation at this time!

    The talking point of the week for DOGE was Sunday when it spiked to $0.002614; a very comfortable +12.24% increase. Although, by Monday it had dropped back to $0.002429 falling -7.08% from that Sunday high.

    By Tuesday DOGE had climbed back up slightly to finish at a value of $0.002511 up $0.000182 (7.25%) wiping out last week’s 0.000116 decline.

    Start – 10/09/19 00:00 am: $0.002329

    Finish – 10/15/19 23:59 pm: $0.002511

     

    Ethereum (ETH) – Up $0.68 (+0.38%)

    ETH shot up to $193.43 by the end of Wednesday. It began Thursday +7.43% already. Nonetheless, following both BTC and BCH’s trend of rising and then dropping, ETH followed suit. Friday’s starting value was still decent at $191.73 still $11.67 (+6.48%) up. However, Friday turned out to be a bad day after a huge $10.79 (-5.63%) was shaved off over the 24-hour period leaving ETH now worth $180.94 only +0.49% up on the beginning of the first day of this report (Tuesday).

    Over the weekend ETH closed at $180.09 and $181.37 on Saturday and Sunday respectively before rising on Monday to close at $186.96. ETH was once again above its week’s opening price value of $180.06 by $6.90 (+3.83%). This was the only other point in the week traders really had the chance to cash in.

    Tuesday was much like Friday with more sudden drops. Over the course of the day, ETH fell from $186.96 to close on Tuesday at $180.74.

    On a positive note, over another 7-day period, ETH has stood the test of time recording an increase in value for the second week running. Last week ETH was up $0.16 (+0.09%) and this week it is up by $0.68. However, 3 weeks ago ETH fell $11.35, so there is still a way to go before recovering September’s downfall.

    Start – 10/09/19 00:00 am: $180.06

    Finish – 10/15/19 23:59 pm: $180.74

     

    Ripple (XRP) – Up $0.011635 (+4.07%)

    After a good week last week for XRP it seemed like another bad week should be around the corner as the world’s most active ICO’s crypto has been declining rapidly in value ever since its rise to the $0.40 mark mid-way through the year when its Money Tap blockchain banking app was to hit the Japanese market.

    This week we have seen signs of a comeback after a solid 7-day performance that only saw the value drop to $0.271912 on Saturday. However, by Monday XRP opened at $0.280588 and rose to $0.290210 by Tuesday morning, which was up +6.73% from Saturday’s low point. It finally closed at midnight on Tuesday just slightly down at the start of the day.

    Its final valuation at midnight Tuesday was $0.285841 with a $0.011635 (+4.07%) increase at the beginning of the week.

    Start – 10/09/19 00:00 am: $0.274206

    Finish – 10/15/19 23:59 pm: $0.285841

     

    EOS.io (EOS) – Down $0.19 (-6.01%)

    Like many other cryptos in this report, the week started positively only to end up with an end of week drop EOS. On Wednesday EOS was strong rising up to give Thursday its opening value of $3.25, but this +2.85% increase was literally the only highlight of the week.

    Friday saw a drop to $3.12, and Saturday EOS opened further down at $3.07, and it only gained $0.01 by Sunday morning. On Monday EOS opened at $3.11 and increased by +1.93% to open on Tuesday at $3.17. However, another poor day for EOS on Tuesday saw $0.20 (-6.31%) wiped off.

    This meant it would not end well for EOS as it closed worth $2.97 with a $0.19 (-6.01%) loss all thanks to that Tuesday $0.20 drop wiping out last week’s ($0.18) +6.04% increase.

    Start – 10/09/19 00:00 am: $3.16

    Finish – 10/15/19 23:59 pm: $2.97

    There are quite a few theories out there as to what is going to happen with the big guns such as BTC, BCH, LTC, and XRP. XRP looks to be on course for another rise in value, which could mean this is a good time to get in on the rise. BTC, BCH, and LTC is anyone’s guess, but as these are all Bitcoin forks they will probably go down slightly before running the final hurdle to the end of the year in which most are expecting a sudden rise in value. DOGE and EOS will likely continue on unpredictable paths with some great opportunities for day traders to cash in on their volatility.

     

     

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