It has been yet another nerve-wrecking week for cryptocurrency traders as they have experienced many more highs and lows in the markets. We are back with another report on the past week in crypto-land but we have to warn you that if you have been holding coins, it has not been a great week for the majority of cryptocurrencies.
There have been some big drops for a number of the major currencies but as you will know full well, this is nothing out of the ordinary and those values could quite easily rise dramatically again next week. This is what many of us love about the cryptocurrency markets anyway, the massive swings that we can make money out of.
There was one coin that had an impressive week but rather than spoil it for you, we will let you read through to see which one it was.
Just two weeks ago it seemed like Bitcoin was finally starting to recover but since then the coin has been on another downward curve. The last seven days started out quite promising for the worlds leading cryptocurrency that is renowned for its wild daily swings. It actually hit a weekly high of $9,874.16 on Monday which would have represented a big improvement on how it finished up last week.
However, since then it has consistently lost value throughout the week and just yesterday was at a low of $7,724.76. A slight recovery since has seen it climb back up to its value today of $8,206.79 which represents a drop in value of around 5% and $463.09 on this time last week.
Things have not got better for Ethereum in terms of value either, unfortunately. After dropping in value by around 20% the week before, ETH has once again lost value despite a few signs of recovery in the early part of the week.
Last week the Ethereum coin was worth around $660 and despite climbing to be worth around $745 on the weekend, it has gradually dropped in value once again throughout the week. It actually dropped to a weekly low of $573.34 just yesterday but a mini-revival has seen it climb back to $608.56. This represents about an 8% drop in value compared to this time last week.
Litecoin (LTC) – Not Much Change
The value of Litecoin has been a lot more stable over the past seven days compared to the big two above, with it now sitting at a similar value to what it was just seven days ago. We left it valued at $163.85 and it did actually start to climb fairly substantially throughout the week.
On Monday it actually crept up to its weekly high with a value of $192.55. Ever since then, however, it has been a gradual fall in value day by day. It is now valued at $163.29, a drop that works out at about $0.50 and 0.32%.
Things seem to be going from bad to worse with regards to the value of Monero over the past couple of weeks. Having been valued at more than $300 just a couple of weeks ago, this coin dropped to around the $250 mark last week before losing another 15% of its value across the last seven days.
This is all despite getting close to the $300 mark earlier in the week after a sharp increase. Ever since then the value has been on a downward spiral and finishes off at $207.26.
Neo has been tipped for a big year in 2018 but it does not seem like investors believe the same thing at the moment. This cryptocurrency has endured some big drops throughout the past couple of weeks and not just this one.
Just a few weeks back the NEO coin was almost hitting $150 in value but seven days later it was valued at $87 and now today it is valued at $68.42. In fact, it has dropped 18% on this time last week with a drop in value of $14.27.
Ripple has not bucked the trend of value drops across the board either. It was valued at $0.7689 this time last week and despite hitting a high of $0.8355 on the weekend, Ripple once again fell in value throughout the next five days. We have left it valued at $0.6907, a drop of 8.63% and $0.0782 on this time last week.
Augur is another cryptocurrency that has had a tough time recently and the last seven days has seen it drop just over 10% in value. Last Friday it had a value of $35.19 and the week proved to be one of some rather dramatic ups and downs. It did have a high of $39.57 Wednesday but the last two days have seen it drop back down significantly to a value of $32.11.
Finally, we have a cryptocurrency that has shown some green over the last week. In fact, this coin has increased in value by an impressive 40% over the last seven days. Most of that gain has been in the last 24 hours with Digix being worth 0.03538 BTC yesterday. In the last day, however, it has risen dramatically to now be worth 0.04701 BTC. That is an increase of 0.01358 and 40.62% on this time last week.
Most of you will know how volatile the cryptocurrency markets can be and the past seven days have demonstrated that point extensively. Most of the cryptocurrencies that we have been following have all dropped down in vale apart from one. Digix has continued its rapid growth and is certainly a coin to watch in 2018.
Join us again next week as we take you through how the above coins have performed over the next seven days.
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