If you were coming here hoping for good news, then actually you may well be surprised because we do have some!
DOGE coin saw very slight positive gains this week and ETH only slight losses, which is better than can be said for Bitcoin and its major hard forks as price valuation performances for BTC, BCH, and LCH can only be described as dismal for the time being.
Yes, that’s right ladies and gents, the crypto-winter storm continues to blow hot and cold with the current forecast over the next month predicting a continuation of more cold and stormy valuation performances before warmer days approach.
So, what is the good news?
Well, according to a very reliable source, walletinvestor.com, the current drop in cryptocurrencies, such as BTC, is only temporary. As it cycles through the year towards its Q4 endpoint, we should eventually see BTC finish close to $10,000.
Admittedly, this is not the $20,000 we were all hoping for, but on the flip side, this means it could be the perfect opportunity to pick up some BTC in advance of the predicted 25% increase before the year is out. However, before you go out on a mad spending spree stocking up on BTC have a read through this week’s report and then check out the valuation predictions for the rest of the month at the end of this report.
Here are the latest movements for 00:00 am on Wednesday (9/25/19) to 23:59 pm Tuesday (10/1/19).
It has been another terrible week for BTC as the most mature crypto on the market continued on a slippery slope that would see it end dangerously close to the $8,000 mark.
At 11:59pm Tuesday last week BTC was still sitting at around $9,500 when a sudden devaluation of $1,000 hit in the early hours of Wednesday morning. Things got worse as the valuation dropped to as low as $8,036.19 on Monday before making a steady uphill climb to its finishing price of $8,472.01.
Last week BTC feel $709.34, and with this week's $1,089.36 fall, the 2-week drop is $1,798.70.
Start – 9/25/19 00:00 am: $9,561.37
Finish – 10/1/19 23:59 pm: $8,472.01
If you take a good look at this week’s BCH performance, it is a zig-zag chart of ups and downs with a huge 18.94% chunk taken out of its value since last week. Traders bearly had time to breathe as the Bitcoin hard fork was its usual inconsistent self. It took a little while longer for BCH to dip in the same fashion as BTC. Albeit the slump only happened a day after.
After Bitcoin’s Tuesday morning crash it looked like BCH was unaffected by the turmoil over in the BTC corner. Nonetheless, the wise and experienced knew that there was a high chance BCH’s turn to take a valuation hit was on the horizon. Their suspicions were confirmed when Thursday’s high of $230.59 was soon dampened when $12.89 was wiped off the value of each coin bringing it down to its weekly low of $208.70.
From here on out the BCH market was up and down. It recovered to $230.83 on Sunday, still $49.34 down from the week’s start, and then slumped to $215.60 on Monday. Next, it was back up to $235.83 on Monday, then it finally ended at $227.10 on Tuesday.
Last week BCH dropped $36.64, and adding this week’s $53.07 drop, we have seen a total of $89.71 wiped off each BTC.
Start – 9/25/19 00:00 am: $280.17
Finish – 10/1/19 23:59 pm: $227.10
Probably the most worrying day of the week for LTC investors was Thursday’s landmark slide to $51.84. However, by Saturday it was back up to an unimpressive $56.55 and it hasn’t dropped below this value since. LTC continued to rise ever so slowly regaining momentum reaching $57.39 on Tuesday night just before it dropped off again to end at $56.65.
Nothing new to report here as another disappointing week for another BTC fork showing consecutive valuation hits.
Start – 9/25/19 00:00 am: $65.47
Finish – 10/1/19 23:59 pm: $56.65
It turned out to be a decent week for DOGE investors. There was a scare that occurred at roughly the same time as BTC, BCH, and LTC when it fell to $0.002078. As the week went on it was hard to think the DOGE would be the black sheep of all the crypto here in this report and go on to exceed last week’s valuation of $0.002442 by finishing at $0.002445.
It isn’t a huge increase by any means, but it is certainly better than reporting a loss. It at least brightens up this week’s report a little!
Start – 9/25/19 00:00 am: $0.002442
Finish – 10/1/19 23:59 pm: $0.002445
Ethereum tells much the same story as many of the other cryptos in this week’s report. It joined BTC, BCH, LTC, and DODGE with an early week drop when ETH fell to $157.13. However, that was it for ETH, no more major price falls and instead, there was a resilient climb up to $175.15 up to Saturday, followed by a slight drop off to $167.18 before rising to $184.73 at which point there was hope that it might start to make a come back.
Nonetheless, a full recovery cycle was not to be as it finally dropping down to $179.90 to end the week. It isn’t the best performance we have seen, but at least for ETH investors, this was only a 6% drop in value and not double figures. That said, over the last 2 weeks, Ethereum has seen $21.91 wiped off each of its coins.
According to coinswitch.co there is very little to be concerned about as dApps will play an important role in ETH’s 2020 predicted upsurge in what is predicted to be one of its best years yet. Check out the report as it is quite interesting.
Start – 9/25/19 00:00 am: $191.25
Finish – 10/1/19 23:59 pm: $179.90
Ripple’s early low point for the week, following suit with the above cryptos, was a lowly $0.234345. It then hovered between $0.245656 and $0.238320 for the remainder of the week with not much action to report until Monday when XRP rose suddenly to $0.259877 keeping it just under its weekly start rate of $0.261742. Eventually, on Tuesday it would drop off to $0.255156 making it a pretty reasonable week considering the mayhem some of the other cryptos experienced.
Start – 9/25/19 00:00 am: $0.261742
Finish – 10/1/19 23:59 pm: $0.255156
EOS came down from $3.38 to $2.67 early in the week before working its way up steadily to $3.09 - just $0.29 down from its week beginning valuation. Yet, after all that effort getting back up above the $3.00 mark on the last day of the week in our 7-day report, it didn’t manage to hold on until the end of Tuesday and ended the day valued at $2.98 with a total of a $0.40 loss and just $0.02 off $3.00.
Over the last 2 weeks, EOS is now down $1.12.
Start – 9/25/19 00:00 am: $3.38
Finish – 10/1/19 23:59 pm: $2.98
If you were to go by 30rates.com prediction, you may want to wait a little longer before increasing your BTC portfolio as they predict that by the beginning of November BTC could fall as low as $6,000. As a result, there is a high probability that over the next few weeks our crypto report is going to be showing quite a few losses across the board until we get through this current crypto trough.
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