WEEKLY ANALYSIS OF MOVEMENTS IN FOREX AND CRYPTOCURRENCY – JULY 19

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 12th to Friday, the 16th of July is highlighted in the table below:

Date (2021)Closing Price (USD)
July 1233,155.85             
July 1332,702.03             
July 1432,822.35             
July 1531,780.73             
July 1631,421.54             

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

Per our previous article, the price of Bitcoin closed at US$33,798.01 on Friday, July 9 2021 showing a 1.90% decrease over the weekend as its Monday, July 12 2021 closing price was US$33,155.85 following the 0.15% average price increase experienced same week spanning July 5 to July 9 of 2021.

Last week saw Bitcoin’s price performance dwindle. Now, let us analyze the movement in the coin’s price last week below:

July 12 saw Bitcoin close at a price of US$33,155.85 and then fall to a price of US$32,702.03 on the 13th resulting in a percentage decrease of approximately 1.37%.

July 14, however,saw Bitcoin close at US$32,822.35 which was an increase of about 0.37% when compared to the previous day’s closing price.

July 15 saw the price of Bitcoin dip to US$31,780.73, a lower price than the previous day’s closing price of US$32,822.35 which resulted in a 3.17% decline in price in comparison to the previous day’s closing price.

July 16 saw the price of Bitcoin close at US$31,421.54, a continuous decline of about 1.13% 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 decrease of 5.23% between Monday, July 12th to Friday, July 16th following the 1.90% decrease it experienced over the previous weekend. Also, note that the price decrease last week of 5.23% is a poor performance compared to the 0.15% price increase the coin experienced in the previous week.

ETHEREUM

The price trend of Ethereum over the last week spanning Monday, the 12th to Friday, the 16th of July 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$2,164.61 on Friday, July 9 2021 showing a 5.94% decrease over the weekend as its Monday, July 12 2021 closing price was US$2,036.10 following the 3.01% average price decline experienced same week spanning July 5 to July 9 of 2021.

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. Now, let us go into the details.

On July 12, Ethereum closed at a price of US$2,036.10 then, proceeded to decline by 4.85% on July 13 at a closing price of US$1,937.26.

On July 14, Ethereum closed at a price of US$2,007.64 resulting in a price increase of 3.63% when compared to the closing price of the previous day.

On July 15, Ethereum closed at a price of US$1,922.82 resulting in a price decrease of 4.22% in comparison to the previous day’s closing price.

On July 16, the closing price of Ethereum decreased by 2.20% to US$1,880.37 from the closing price of US$1,922.82 of the previous day.

In summary, from the above analysis, we can tell the fluctuations in the price of Ethereum last week resulted in an overall decrease of about 7.65% between Monday, July 12th to Friday, July 16th following the 5.94% decrease the weekend before. The price decrease in the last week of 7.65% was a performance decline in comparison to the 3.01% price increase the coin experienced the previous week.

DOGECOIN (DOGE)

The price trend of Dogecoin over the last week spanning Monday, the 12th to Friday, the 16th of July 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$0.2202 on Friday, July 9 2021 showing a 5.09% decrease over the weekend as its Monday, July 12 2021 closing price was US$0.2090 following the 6.02% average price decrease experienced same week spanning July 5 to July 9 of 2021.

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 July 12, Doge closed at a price of US$0.2090 and on July 13, closed at a price of US$0.1987 resulting in a price decrease of approximately 4.93% in comparison to the price of the previous day.

On July 14, Doge closed at a price of US$0.1989 resulting in a slight increase of 0.10% from the previous day’s price of US$0.1987.

On July 15, Doge closed at US$0.1859, resulting in a further decrease of about 6.54% from the previous day’s closing price of US$0.1989.

On July 16, Doge closed at a price of US$0.1744, a continuous decline of about 6.19% from the previous day’s closing price of US$0.1859.

In summary, from the above analysis, we can tell the fluctuations in the price of Dogecoin for the week resulted in an overall decrease of about 16.56% between Monday, July 12th to Friday, July 16th following the 6.02% average price decrease over the previous weekend. Also, note that the price decrease last week of about 16.56% was a worse performance in comparison to the 6.02% price decrease the coin experienced in the previous week.

FOREX FLUCTUATIONS

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

NGNUSD (BUY/SELL)GBP (BUY/SELL)EUR (BUY/SELL)
12/07/2021500/505700/708590/595
13/07/2021500/505702/708590/595
14/07/2021500/505702/708590/596
15/07/2021500/505700/708590/596
16/07/2021502/506700/708590/596

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

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