WEEKLY ANALYSIS OF MOVEMENTS IN FOREX AND CRYPTOCURRENCY

Hello everyone,

Here, we would be showing you the trend in the movement of some major cryptocurrencies over the last week.

BITCOIN

The price trend of Bitcoin over the last week spanning the 10^th to the 17^th of May is highlighted in the table below:

Date	Closing Price (USD)
May 10 2021	55,859.80
May 11 2021	56,704.57
May 12 2021	49,150.54
May 13 2021	49,716.19
May 14 2021	49,880.54
May 15 2021	46,760.19
May 16 2021	46,456.06
May 17 2021	43,537.51

Graphical representation of price trend of Bitcoin over the last week.

Source: https://finance.yahoo.com/quote/BTC-USD/history/

In summary, from the above analysis, we can tell the fluctuations in the price of Bitcoin last week resulted in an initial price increase of 1.5% between May 10 and May 11 followed by an approximate 23% decrease for the rest of the week.

ETHEREUM

The price trend of Ethereum over the last week spanning the 10^th to the 17^th of May is detailed in the graph below:

Graphical Representation of Ethereum prices over the last week.

Source: https://coinmarketcap.com/currencies/ethereum/

From the graphical representation of the price trend of Ethereum over the last week, we can see that there has been an overall downward movement.

On May 10^th, Ethereum closed at $4,026.41.

On May 11^th, the closing price was at $4,132.64 resulting in a 2.6% price increase from the previous day’s closing price.

On May 12^th, the closing price upped to $4,235.38 resulting in a 2.5% price increase from the previous day’s closing price.

However, on May 13^th, Ethereum’s price closed in at $3,683.06 which led to a decline of 13% from the previous day’s closing price.

The cryptocurrency partially regained the previous day’s loss by upping its closing price on May 14^th to $4,067.99 resulting in a 10.5% price increase.

May 15^th saw Ethereum’s price close in at $3,768.95 resulting in a decline of about 7.4% from the previous day’s closing price.

On May 16^th, Ethereum’s closing price was $3,541.37 resulting in yet another decline of 6% from the previous day’s closing price.

May 17^th saw Ethereum close at $3,229.62 resulting in a decline, for the third time in a row, of 8.8% from the previous day’s closing price.

In summary, from the above analysis, we can tell the price of Ethereum fluctuated a lot within the last week with more declines than increases resulting in an overall decrease of about 19.8% during the week.

DOGECOIN (DOGE)

The price trend of Dogecoin over the last week spanning the 10^th to the 17^th of May is detailed in the graph below:

Graphical Representation of Doge prices over the last week.

Source: https://coinmarketcap.com/currencies/dogecoin/

From the graph above, we can see that the price trend of Doge has also been less than favorable. The daily price analysis is detailed below.

On May 10^th, Doge closed at a price of $0.4644.

On the 11^th of May, there was a slight price increase to $0.5022 resulting in an 8% price increase from the previous day’s closing price.

On May 12^th, Doge’s price closed in at $0.4616 resulting in an 8% decline from the previous day’s closing price.

By May 13^th, Doge’s closing price had increased by about 4.1% from the previous day due a closing price of $0.4804.

May 14^th saw the price of Doge close at $0.5584, the highest for the week, resulting in a 16.2% increase when compared to the previous day’s closing price.

On May 15^th, Doge had a closing price of $0.5126, resulting in an 8.2% decrease from the previous day’s closing price.

On May 16^th, the closing price of Doge was $0.4930 resulting in yet another decline of about 3.82% from the closing price of the previous day.

On May 17^th saw Doge’s price fall to $0.4819, a decline of 2.25% from the previous day’s closing price.

In summary, from the analysis above, we can tell that despite the fluctuations in the price of Doge, it still experienced an overall minimal increase of 3.77% during the week.

FOREX FLUCTUATIONS

NGN:USD, NGN:GBP, AND NGN:EURO

NGN	USD (BUY/SELL)	GBP (BUY/SELL)	EUR (BUY/SELL)
14/05/2021	480 / 484	670 / 680	576 / 581
17/05/2021	480 / 484	670 / 678	577 / 581
18/05/2021	480 / 484	670 / 678	578 / 583
19/05/2021	480 / 484	670 / 678	577/582

Source: https://www.abokifx.com/home