It is that time of the week again as we take a quick look back at the world of cryptocurrencies to see how some of the more popular coins have been performing. If any of you were hoping for a better week than last week in terms of the value of these coins, we are afraid you are going to be left disappointed.
Last week each and every coin had lost value from the previous week and unfortunately, this is the case again. The losses were not quite as big this time around but they were still losses. This will not feel that great for the holders of these coins but you never know when the next bull run could happen.
Check out each of the coins below to see in a bit more detail how their last seven days performance at the cryptocurrency exchanges has been.
In recent weeks it has been a constant drop in value for Bitcoin and the last seven days has been no different. Despite a revival on Wednesday where the value of Bitcoin had gone as high as $7,500, it has once again lost value compared to what it was last Friday.
At that time, we left it valued at $6,872.51 but having checked the markets today, its value has dropped another 7.5% and it currently sits with a worth of $6,579.06. This marks an amazing turnaround considering Bitcoin was approaching a value of nearly $20,000 in December of last year.
Whenever Bitcoin suffers a drop in value, Ethereum usually follows suit and once again that is exactly the case. In fact, it has suffered pretty much an identical drop of around 7% on its price from last Friday. We left the Ethereum coin valued at $390.03 but it has dropped to #369.92 since then.
Like Bitcoin, Ethereum did have a mini-revival on Wednesday and actually got as high as $419.42 but this was shortlived.
Litecoin is another cryptocurrency that has not enjoyed a good week once again in terms of value. Amazingly, it has lost value of 7% over the week, matching Bitcoin and Ethereum with it now being valued at $113.77.
Whenever Bitcoin drops in value, many other cryptocurrencies seem to be affected as well so it really is no surprise to see Litecoin drop as well. Perhaps next week will be when we finally get to see an increase in the value of the LTC coin.
When we left Monero last week it was valued at $173,87 after suffering a loss in value. This downward trend has continued but it is a much smaller drop this week. Its value as of writing this is $167.47 which means it has dropped around 3% and $5 in value from seven days ago.
Like many of the other cryptocurrencies, it did show something of a revival in midweek with it climbing to a high of $192.06 but since then it has only been going in one direction.
Neo is another cryptocurrency that is still dropping further in value and the last seven days has seen it drop fairly significantly by 10%. It is now sitting at a value of $45.26 compared to last week when it was valued at $50.50.
It will be interesting to see if NEO and any of the above cryptocurrencies manage to recover any of their value in the next seven days.
If any of you were hoping that Ripple could be at least one cryptocurrency that has increased in value over the past week, you are going to be disappointed. The XRP coin had dropped value the previous week when we reviewed it last Friday and it has once again dropped in value.
When we left it last week, Ripple was valued at $0.4918 but after a drop of close to 7%, it is now sat at $0.4652. Ripple is one coin that has been tipped by many to have a good year in 2018 but this has certainly not happened yet.
Continuing a poor week for many cryptocurrencies in terms of value is that of Augur. Despite having a weekly high of $28.19 on Tuesday, REP has had a bumpy week of ups and downs that have ultimately ended in a down of 10%.
Valued at $26.44 just seven days ago, the coin can now be purchased for $24.22 at the many cryptocurrency exchanges online. If you believe in this coin and crypto project, now might actually be a pretty decent time to invest in it.
Digix is a cryptocurrency that has also experienced so big drops in value over the last few weeks and it has once again dropped since last week. Things actually started out quite well with the DGD as it had increased on its value of 0.03456 BTC on Friday to a value of 0.03870 BTC. However, this increase was short-lived as it then fell in value to a low of 0.02887 before recovering slightly to finish at 0.0319 BTC today.
As you can see it has not been the ideal week for those of you that are holding any of these coins as a long-term investment. Every coin has lost value and this has been the case across many more cryptocurrencies as well. It seems that the massive rise in the value of cryptocurrencies that happened last year has firmly come to a halt. Nobody can truly predict the future in the cryptocurrency world however and you just never know when big gains in value can occur.
Check back with us next week to see if there will finally be the upswing that many of you are hoping for.
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