A Week is a Long Time in the Cryptocurrency Trading Environment

February 24, 2018 by Adrian Thorpe

Bitcoin TradingIt doesn’t seem that long ago we were all welcoming in the New Year, and one thing that you may have been expecting during 2018 is plenty of new coins and tokens being launched, and the usual massive fluctuations in regards to the values of all cryptocurrencies too.

It is often over the weekend that many cryptocurrency investors are going to take a step back and asses just how well the previous week has been in regards to each of their cryptocurrency holdings, and sadly the last 7 days have not been as fruitful for investors as some previous weeks!

There has however been a slew of different initial coin offerings for investors to get excited about, and having spent some time looking through the list of current ICO’s, it does have t be said the concepts ad business plans behind many of them will certainly revolutionize the cryptocurrency environment even more.

If you have been looking at how well your investments n cryptocurrencies have been doing this week than I doubt you have anything to celebrate this weekend, much more so if you bought into any one individual cryptocurrency this week.

In fact below I am going to be taking a look at the top ten cryptocurrencies by market valued and see how much they have gained or lost this previous 7 days, so you can decide for yourself whether any of them are worth investing in this coming week or not!

Bitcoin Fluctuations chart between 18th and 24th February 2018

The Market Value of Cryptocurrencies Have Taken a Dip

It is hard to see any other cryptocurrency gaining a higher market capital value than Bitcoin for the very foreseeable future and sadly that cryptocurrency whilst the most commonly used one, has taken a small dip in its value this last week, and as such Bitcoin lost 4.93% of its value last week.

I did read that some Ethereum smart contracts could be susceptible to a hack this week which did somewhat alarm me, and as that cryptocurrency has lost 12.20%of its value over the last 7 days, then that news does appear to have alarmed a lot of other people too.

Ripple on the other hand just seems to keep plodding on never really gaining much in regards to its value, however it is still the third largest cryptocurrency by market value but much like both Bitcoin and Ethereum it too suffered a drop in its value this last week that being some -15.67%.

You are probably licking your wounds if you have any holdings of Bitcoin Cash at the minute for things have certainly not been going good for that cryptocurrency, in fact its valued has dropped by a huge 19.85% over the last seven days.

It is hard to find a cryptocurrency that is popular with users and investors this week that has been performing well on the exchanges, for they all do appear to have lost some large amounts in regards to their values and Litecoin did too having lost 9.28% over the last week.

All Top 10 Cryptocurrencies Dropped in Value Last Week

Let me now give you an insight into how the remaining five of the top ten cryptocurrencies performed this week, and sadly each of those additional five cryptocurrencies have seen a drop in their values too, starting with Cardano which has seen a drop of 17.57% in its value over the last 7 days.

I have never seen the main attraction of NEO, however plenty of investors do and its value has been increasing a far bit recently, but that has not been the case over the last week as its value is no down by some 11.11% to where it was last weekend.

Even though Stellar is the seventh largest cryptocurrency by market capital anyone holding any quantity of that cryptocurrency this week will not be too happy for its value has decreased by a whopping 21.86%!

There have been some large profits made by those investors who bought into EOS when it launched, however they are not going to be celebrating based on the loss in value of that cryptocurrency, which over the last week alone has dropped by a huge 18.19%!

The final cryptocurrency in the top 10 of them by market value is of course Dash and that cryptocurrency does seem to have been following the lead of all of those mentioned up above, for it too has seen a rather depressing drop in its value this past week, and that drop is some 14.99%!