A Turbulent Week for Cryptocurrencies
It is always going to be a 50/50 chance that after a weeks solid trading the major cryptocurrencies will be either showing a gain in their respective values, or a drop in their values, and the last seven days has been quite a turbulent one it is very true to say
The fact that the Bitcoin Gold blockchain was the victim of a 51% attack probably unsettled lots of cryptocurrency traders, who decided to sell of their holdings and cash them in, just to be on the safe side.
Today, as I often like to do on a Saturday, I am going to be looking at the winners and losers over the last seven days regarding each of the biggest cryptocurrencies by market value, and the first one I will be looking at is Bitcoin.
Bitcoin sadly didn’t hold up well over the last week and its valued has dropped by some 9.55% on the position it held last Saturday but Ethereum did even worse for that cryptocurrency saw a much larger drop in value of some 14.95%
Ripple may be a low-cost cryptocurrency, but that fact hasn’t help it to stand up to the downturn and slide in values of other cryptocurrencies, for it has dropped by 9.19% over the last week.
Tron Bucking the Downward Trend
Bitcoin Cash is one of those cryptocurrencies that can often follow the other major ones regarding it value, so as you would expect with those listed above, it hasn’t been fairing too well this last week and its value has dropped by some 14.68%!
EOS appears not to have been hit as hard as some other coins and tokens this week, for after a week of ups and down it finally settled the week some 5.20% down in value, which everything considered isn’t to great a loss to take if you had invested in it!
Litecoin which goes by the ticker symbol LTC appears to have been following the downward trend set by the other major cryptocurrencies too, for it has seen its value reduce by some 11.25% over the last week and one must wonder if that is going to be a trend that will continue into next week and beyond.
If you had bought into Stellar this time last week then you too are showing a loss, but a loss of some 8.15%, Cardano investors will be feeling very sore today after its valued dropped by some 17.95% after a bad week on the trading exchanges.
But you will be all smiles if you had bought into TRON for that cryptocurrency certainly did buck the trend this week and has made a slight gain in its value of some 3.82%, so something to celebrate at last!
Not the Best Week for Most Other Cryptocurrencies
Apart from Tron you may be wondering if cryptocurrency investing is all its cracked up to be, as you will find several other ones listed below that have dropped in value too this past week, however some weeks everything can be rosy with gains made across the board, but that is the very nature of investing I guess!
IOTA may not be the first cryptocurrency you fancy investing in, but if you did last week at this time then you are now looking at an overall loss of some 15.37%, much can also be said of NEO for that coin has also made a loss but of some 11.27%!
Dash hasn’t had a good week of it either for that coin has dropped in value by some 15.78%, but another coin you may have invested in as a lot of people have been doing so recently is Monero which made a loss of some 18.27%!
NEM is not the favour of the week with investors either for any amount of that coin you choose to buy last Saturday will have result in you making a loss of some 14.99%
One cryptocurrency that had been making some very impressive gains over the last few weeks is VeChain but that did also make a loss too over the last week and dropped in value by some 17.17%!
However, let us not forget that a week is not a very long time in the cryptocurrency investing environment, and the following week ahead is bound to be a swings and roundabouts type of experience for investors, and this time next week we may see some large gains being made on the exchange, whether we will or not though does remain to be seen!