Bitcoin – Significant drop in the price further develops
The 36th week was for the Bitcoin a blood bath in which the world’s most popular cryptocurrency lost a little bit over 10% of its value. Bitcoin opened on Monday (3rd of September) at $7,279 and is now traded at around $6,3500 as at the time of writing.
The beginning of the week started relatively calm and the price did not drastically change until the 5th of September. On this day, Bitcoin broke two big support levels, at 9:45 and at midnight and lost nearly $570 in a single day. From this hit, Bitcoin was so far unable to recover. On the bright side for Bitcoin, no further significant price drops appeared on the market.
Ethereum – Lost in a week almost $100
Very similar drop movements also encountered the Vitalik Buterin cryptocurrency, Ethereum. The world’s second-biggest cryptocurrency opened its gate to the investors on Monday with the price $295.
Ethereum did not experience any bigger volatility at the beginning of the week and the price changed very slightly. That has, however, changed on Wednesday, again at 9:45 and at midnight when almost all cryptocurrencies tried their best to survive the day. Ethereum cut its losses on that day and waved a good bye to around $54.
Unlike Bitcoin, Ethereum further deepened its losses and is now traded at around $200 per coin, which means it lost almost $100 in a single week.
DogeCoin – making 20% growth in times of crypto depression
Interestingly enough, not all cryptocurrencies had such a depressing week. Dogecoin is a great example of that. The cryptocurrency created on the popularity of the Doge meme rose in value by 20% during the last week.
At the beginning of the week, one DogeCoin was valued at $0,004741 per coin, now it is traded at around $0,00573. The DogeCoin chart is not anyhow similar to the graphs we analyzed above.
This coin continued its growth from the week before, one bigger support was broken on 2nd September 4:30, but that did not put off Dogecoin and it sustained its positive sentiment. On Wednesday when all other cryptocurrencies were drowning, DogeCoin was not only able to survive, but it also added a little bit to its value.