WEEKLY ANALYSIS OF MOVEMENTS IN FOREX AND CRYPTOCURRENCY – JUNE 21

Hello everyone,

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

BITCOIN

The price trend of Bitcoin over the last week spanning Monday, the 14th to Friday, the 18th of June is highlighted in the table below:

Date (2021)Closing Price (USD)
June 1440,218.48
June 1540,406.27
June 1638,347.06
June 1738,053.50
June 1838,193.62
Graphical representation of price trend of Bitcoin over the last week.

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

Per our previous article, The price of Bitcoin closed at US$37,334.40 on Friday, June 11 2021 showing a 7.72% increase over the weekend as its Monday, June 14 2021 closing price was US$40,218.48 (Bitcoin’s highest price in many weeks) which was in line with the average price increase experienced same week.

Last week, however, saw Bitcoin experience an average price decline. Hence, the analysis of price trends of Bitcoin from the above tabular and graphical representation are below:

June 14 saw Bitcoin close at a price of US$40,218.48 and then rise to a price of US40,406.27 on the 15th resulting in a percentage increase of 0.47%.

June 16, however,saw Bitcoin close at US$38,347.06 which was a considerable fall of about 5.1% when compared to the previous day’s closing price.

June 17 saw the price of Bitcoin further decline to US$38,053.50, a slightly lower price than the previous day’s closing price of US$38,347.06 which resulted in a 0.77% decline in price in comparison to the previous day’s closing price,

June 18 saw the price of Bitcoin close at $38,193.62, a slight 0.37% increase compared to the previous day’s price.

In summary, from the above analysis, we can tell the fluctuations in the price of Bitcoin last week resulted in an overall price reduction of 5.03% by the end of the week. This is a performance decline on the 11.24% price decrease the coin experienced in the prior week.

ETHEREUM

The price trend of Ethereum over the last week spanning Monday, the 14th to Friday, the 18th of June is detailed in the graph below:

Graphical Representation of Ethereum prices over the last week.

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

Per our previous article, the price of Ethereum closed at US$2,364.53 on Friday, June 11 2021 showing an 8.09% increase over the weekend as its Monday, June 14 2021 closing price was US$2,555.88 which was in contrast to the average price decrease experienced same week.

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 June 14, Ethereum closed at a price of US$2,555.88 then, proceeded to rise by 0.11% on June 15 at a closing price of US$2,558.74.

On June 16, Ethereum closed at a price of US$2,388.33 resulting in a price decrease of 6.66% when compared to the closing price of the previous day.

On June 17, Ethereum closed at a price of US$2,358.66, resulting in a further decline of 1.24% in comparison to the previous day’s closing price.

On June 18, the closing price of Ethereum plunged to US$2,211.23 bringing about a percentage decline of about 6.25% from the closing price of US$2,358.66 of the previous day.

In summary, from the above analysis, we can tell the price of Ethereum mostly declined within the last week resulting in an overall decrease of about 13.48% by the end of the week, a further decline from the 9.76% price decrease the coin experienced in the prior week.

DOGECOIN (DOGE)

The price trend of Dogecoin over the last week spanning Monday, the 14th to Friday, the 18th of June is detailed in the graph below:

Graphical Representation of Doge prices over the last week.

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

Per our previous article, the price of Dogecoin closed at US$0.3199 on Friday, June 11 2021 showing a 2.03% increase over the weekend as its Monday, June 14 2021 closing price was US$0.3264 which was in contrast to the average price decrease experienced same week.

From the graph above, we can see that the price trend of Dogecoin mostly spiraled downward during the week. The daily price analysis is detailed below.

On June 14, Doge closed at a price of US$0.3264 and on June 15, closed at a price of US$0.3214 resulting in a price decrease of 1.53% in comparison to the price of the previous day.

On June 16, Doge closed at a price of US$0.3095 resulting in a decrease of 3.70% from the previous day’s price of US$0.3214.

On June 17, Doge closed at US$0.3044, resulting in a further decline of about 1.65% from the previous day’s closing price of US$0.3095.

On June 18, Doge closed at a price of US$0.2934, a decline of 3.61% from the previous day’s closing price of $0.3095.

In summary, from the analysis above, we can tell that the coin experienced consistent declines in its price during the week which resulted in an overall price decrease of 10.11% by the end of the week, a further decline from the 6.05% price decrease the coin experienced in the prior week.

FOREX FLUCTUATIONS

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

NGNUSD (BUY/SELL)GBP (BUY/SELL)EUR (BUY/SELL)
14/06/2021499/502706/715603/607
15/06/2021500/505708/716603/608
16/06/2021497/502707/713600/606
17/06/2021483/493700/710590/600
18/06/2021492/498700/710585/595

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

One Reply to “WEEKLY ANALYSIS OF MOVEMENTS IN FOREX AND CRYPTOCURRENCY – JUNE 21”

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.