Winning Run Ends for Most Cryptocurrencies this Week
They do say that all good things must come to an end, and sadly after three solid weeks of gains regarding the values of the majority of the top 20 cryptocurrencies by market capital, the last seven days have not been so good, with many of them seeing their values dropping.
Therefore, as I like to do at the end of each week, I will now be giving you a review of the last week as to whether any cryptocurrencies have continued their upward trend regarding their values, or whether any of them have seen a major turnaround in their fortunes and see it the values have dropped.
You will be more than used to the ever-present volatility associated with Bitcoin if you have been an investor in that cryptocurrency for any length of time, and over the last seven days its value has dropped by some 13.42%, and as such it has stopped gaining in value as it has been doing the three weeks before this week!
Ethereum investors have also been hit had this week for that cryptocurrency has also seen a drop in its value, and currently one single full unit of Ethereum called an Ether is going to cost you $673.62 which is a drop of some 17.425 over the past week.
It hasn’t been a good week for investors in Ripple either, for over the last seven days its value has dropped by some 24.61%, and as such you will find a single unit of that cryptocurrency wills et you back currently around $0.686917 which still does mean it is a low cost one to buy into of course!
Many Other Cryptocurrencies Have Dropped in Value
You would be looking at something of a substantial loss in the value of any Bitcoin Cash that you did buy this time last week, for that cryptocurrency has dropped quite noticeably by some 14.37%, but many investors do think that is just a blip and things will turnaround sometime real soon!
EOS has also been proving to be an expensive cryptocurrency to invest in this last seven days, for whilst its value it relative tiny compare to most of the cryptocurrencies named above, you would have seen a drop in its value of 22.07% if you had bought into it last Saturday as of its value right now today!
I do know more and more people have bene opting to buy into and invest in Litecoin, however whilst its price has been increasing over the last few months, over the last seven days its value has also dropped by some 19.98%, and that may be something that could continue to happen next week too!
You will often find when there have been some large drops in value of any of the major cryptocurrencies such as Bitcoin and Ethereum many other cryptocurrencies will also drop in value.
That has certainly been the case regarding the value of another popular cryptocurrency, that being Cardano which has the ticker symbol ADA for its value has dropped by some 26.29% over the last seven days!
Stellar and IOTA Have Also Dropped in Value Too!
If you had pinned your hopes on Stellar and IOTA rising in value over the last seven days then you will not be celebrating today, for those two other major cryptocurrencies have seen a drip in their respective values with Stellar dropping in value by some 21.04% and IOTA also dropping in value by 20.27%.
TRON has bene proving to be a very popular investment opportunity recently and I am aware of many people who have been cashing out their recent gains, however gains are not what you would have made if you had invested in TRON this time last week, for today you would be nursing your wounds as its value has dropped by some 22.39%!
Another cryptocurrency that has shown no mercy to investors this past week is Neo, and if you have bought into it this time last Saturday then here we are exactly one week later looking at a loss in its value of 24.17%, and you are going to have to decide whether you should hold onto your holdings of Neo in the hope its value will increase or cut your losses and sell them sooner rather than later!
A couple of other cryptocurrencies that you may have invested in last week that have also shown a large drop in their values are Dash whose value has dropped by some 18.94% and Monero and that cryptocurrencies value has dropped by some 17.23% over the last seven days!