Last week saw some tumultuous activity in the cryptocurrency exchange. Although the crypto market is usually prone to steep fluctuations at times, it still offers a better rate of return than other more traditional investments, such as shares, which tend to remain steadier. This article explores the market trends and price patterns of some of the most prominent cryptocurrencies right now, Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP) and Electroneum (ETN), for the last week, as well as their predictions for the next week.
The market capitalization is the market share captured by or dominated by a particular cryptocurrency. It is calculated by the multiplying the price of one coin by the total number of coins in circulation. For example, Bitcoin, which is valued at $7261 per coin, as of today, and has a total circulation of 18.1 million, has a market capitalization of more than $125 billion today. Investments are classified as large cap, with the least risk, mid cap with medium risk and small cap with the most risk.
Bitcoin Price Analysis
Bitcoin, being the oldest and most popular of all cryptocurrencies, retains the lion’s share of the market. As such, its price trends are steadier than other newer currencies, with a constant market cap of more than $130 billion. During the last week, Bitcoin has seen prices rise from about $6700 per coin, hitting a peak of $7600, and closing at a low of $7261 today. Trends for the next week, till 1/01, are predicated to remain mostly the same, with a low of $6935 on the 27th and a high of $7356, on New Year.
Ethereum Price Analysis
Ethereum has the second largest market capitalization after Bitcoin, despite having far more coins in circulation, due to Bitcoin’s much higher price per coin. At $126.85 dollars per coin, as of today, Ethereum has seen its own share of steep surges and crashes over the last week, with a low of $121 per coin, and a high of $134. As the above graph shows, other cryptocurrencies always have to keep Bitcoin’s trends in relation to theirs, with the orange column representing the number of Bitcoins equivalent to the same price. For the coming week, Ethereum will remain more or less static, with a low of $121, on the 27th, and two highs of $127, on the 30th, and 1st January.
Litecoin Price Analysis
Litecoin currently commands the 6th largest share of the cryptocurrency market, with a market cap of above $2.6 billion. Although not as well known as Bitcoin or Ethereum, it has its own niche market with both miners and investors, as it is relatively cheaper to mine, and is considered a small to mid-cap investment. At a very affordable $40.14, as of today, and an explosive Return On Investment (ROI) rate, it attracts more adventurous investors. The previous week has seen a Litecoin low of $37.75, and a high of $42.25. The coming week predicts a slight surge, overall, with a low of $38.7 on the 27th, and a high of $40.7 on 1st January.
Ripple Price Analysis
Ripple’s cryptocurrency, XRP, has seen a significant surge in prominence recently, capturing the third largest share of the cryptocurrency market, even though its price per coin is exceedingly low, at $0.188 per coin, as of today. However, traders believe it has immense potential, having successfully held its own, during most major market crashes. The previous week saw a relatively steady trend, with a low of $0.184, and a high of $0.197. Next week promises to be even better with experts predicting a low of $0.185 on the 27th, and a high of $0.196 on the 1st January.
Must Read: Bitcoin News Today – Let’s Dive Deeper Into The World of Bitcoin
Electroneum Price Analysis
Electroneum is often seen as the underdog in this list of cryptocurrencies, which has clawed its way to the top, through innovation and sheer strategic pricing. At an exceedingly attractive price of $0.003393, as of today, it is one of the most lucrative investment options in the cryptocurrency market as of now. The last week saw a low of $0.003340, and a high of $0.003720. The coming week predicts a low of $0.003350 on the 27th, and a high of 0.003372 on the 1st January.