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 10th to the 17th of May is highlighted in the table below:

DateClosing Price (USD)
May 10 202155,859.80
May 11 202156,704.57
May 12 202149,150.54
May 13 202149,716.19
May 14 202149,880.54
May 15 202146,760.19
May 16 202146,456.06
May 17 202143,537.51

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 10th to the 17th 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 10th, Ethereum closed at $4,026.41.

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

On May 12th, 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 13th, 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 14th to $4,067.99 resulting in a 10.5% price increase.

May 15th 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 16th, Ethereum’s closing price was $3,541.37 resulting in yet another decline of 6% from the previous day’s closing price.

May 17th 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 10th to the 17th 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 10th, Doge closed at a price of $0.4644.

On the 11th 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 12th, Doge’s price closed in at $0.4616 resulting in an 8% decline from the previous day’s closing price.

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

May 14th 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 15th, Doge had a closing price of $0.5126, resulting in an 8.2% decrease from the previous day’s closing price.

On May 16th, 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 17th 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

NGNUSD (BUY/SELL)GBP (BUY/SELL)EUR (BUY/SELL)
14/05/2021480 / 484670 / 680576 / 581
17/05/2021480 / 484670 / 678577 / 581
18/05/2021480 / 484670 / 678578 / 583
19/05/2021480 / 484670 / 678577/582

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

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.