WEEKLY ANALYSIS OF MOVEMENTS IN FOREX AND CRYPTOCURRENCY – JUNE 28

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 21st to Friday, the 25th of June is highlighted in the table below:

Date (2021)Closing Price (USD)
June 2131,676.69
June 2232,505.66
June 2333,723.03
June 2434,662.44
June 2531,637.78

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

Per our previous article, the price of Bitcoin closed at US$38,193.62 on Friday, June 18 2021 showing a 17.06% decrease over the weekend as its Monday, June 21 2021 closing price was US$31,676.69 which was in line with the average price decrease experienced same week.

Last week, saw Bitcoin continue its weekly average price decline streak that has been ongoing for many weeks now. Hence, the analysis of price trends of Bitcoin from the above tabular and graphical representation are below:

June 21 saw Bitcoin close at a price of US$31,676.69 and then rise to a price of US$32,505.66 on the 22nd resulting in a percentage increase of 2.62%.

June 23, however,saw Bitcoin close at US$33,723.03 which was an increase of about 3.75% when compared to the previous day’s closing price.

June 24 saw the price of Bitcoin further rise to US$34,662.44, a slightly lower price than the previous day’s closing price of US$38,347.06 which resulted in a 2.79% decline in price in comparison to the previous day’s closing price,

June 25 saw the price of Bitcoin close at US$31,637.78, a considerable fall of about 8.73% decrease compared to the previous day’s price which netted off the coin’s gains during the week.

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 0.12% by the end of the week. The price decrease in the last week was much lower than the 5.03% price decrease the coin experienced in the prior week followed by a 17.06% loss over the weekend.

ETHEREUM

The price trend of Ethereum over the last week spanning Monday, the 21st to Friday, the 25th 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, INSERT LINK, the price of Ethereum closed at US$2,211.23 on Friday, June 18 2021 showing an 15.37% decrease over the weekend as its Monday, June 21 2021 closing price was US$1,871.36 which was in line with 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 21, Ethereum closed at a price of US$1,871.36 then, proceeded to decline by 0.07% on June 22 at a closing price of US$1,872.62.

On June 23, Ethereum closed at a price of US$1,950.10 resulting in a price increase of 4.14% when compared to the closing price of the previous day.

On June 24, Ethereum closed at a price of US$1,981.46, resulting in a further increase of 1.61% in comparison to the previous day’s closing price.

On June 25, the closing price of Ethereum plunged to US$1,813.73 bringing about a percentage decline of about 8.46% from the closing price of US$1,981.46 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 3.08% by the end of the week. The price decrease in the last week was much lower than the 13.48% price decrease the coin experienced in the prior week followed by a 15.37% loss over the weekend.

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, INSERT LINK, the price of Dogecoin closed at US$0.3199 on Friday, June 18 2021 showing a 44.05% decrease over the weekend as its Monday, June 21 2021 closing price was US$0.179 which was in line with 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 21, Doge closed at a price of US$0.179 and on June 22, closed at a price of US$0.1905 resulting in a price increase of 6.42% in comparison to the price of the previous day.

On June 23, Doge closed at a price of US$0.2329 resulting in an increase of 22.26% from the previous day’s price of US$0.1905.

On June 24, Doge closed at US$0.2618, resulting in a further increase of about 12.40% from the previous day’s closing price of US$0.2329.

On June 25, Doge closed at a price of US$0.2349, a decline of about 10.28% from the previous day’s closing price of US$0.2618.

In summary, from the analysis above, we can tell that the coin experienced consistent increases in its price during the week, which resulted in an overall price increase of 31.23% by the end of the week. This was a performance improvement against the 10.11% price decrease the coin experienced in the prior week followed by a further 44.05% loss over the weekend.  

FOREX FLUCTUATIONS

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

NGNUSD (BUY/SELL)GBP (BUY/SELL)EUR (BUY/SELL)
21/06/2021495/500703/710585/592
22/06/2021495/500705/713585/595
23/06/2021495/500705/710585/592
24/06/2021495/500705/710590/595
25/06/2021496/500705/710595/600

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

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