This week in review: full in-depth price analysis for eagle-eyed investors of Bitcoin, Ethereum and Ripple for the last 7 days - November 28th to December 4th.
Bitcoin is the most prominent cryptocurrency and ranked first place on Coinmarket place, with a market capitalization of $353.950 billion out of a total market capitalization of $564.308 billion where Bitcoin market dominance accounted for 62.6% as of December 05, 2020.
7 DAYS – ONE WEEK BITCOIN REVIEW (Nov. 28 – Dec. 04, 2020)
By reviewing the Bitcoin historical data & price chart on Coinmarket Cap for the last 7 days (Nov. 28-Dec. 04), we observed a constant increase in Bitcoin in the last week.
According to the available statistics of Coinmarketcap, Bitcoin price today is $19,087.73 with a 24-hour trading volume of $31.67 billion. Bitcoin is up around 0.40% in the last 24 hours.
Source Link: https://coinmarketcap.com/currencies/bitcoin/historical-data/
On November 28, 2020, the Bitcoin price was hovering at around $17,112.93. Bitcoin continued to maintain price increasing trend with a slight fluctuation in price & rose to a high of $19,446.97, recorded a 13.63% gain in price within 7 days.
On December 01, 2020, Bitcoin price reversed from $19,633.77 to 18,801.74 for a day but it regained its position with an increase in price to a high $19,205.93. Bitcoin slumped by -4.23% but surged over 2.14% in a single day.
We observed that the incredible increase in Bitcoin price journey that was started in the second quarter of 2020 continued to rise to set a new record.
Ethereum is the most accepted & the second largest currency after Bitcoin. Ethereum pioneer in introducing decentralized smart contract platform that supports decentralized applications and automates contracts between several parties.
Ethereum blockchain also hosts other cryptocurrencies, called tokens. These tokens facilitate DeFi, trading & yield farming, etc.
7 DAYS – ONE WEEK ETHEREUM REVIEW (Nov. 28 – Dec. 04, 2020)
Ethereum is the second most popular and largest currency with a price today of $589.94 with 24 hours trading volume of $15.29 billion. Ethereum is 0.61% down in the last 24 hours, as of December 05, 2020.
Source Link: https://coinmarketcap.com/currencies/ethereum/historical-data/
On the scale of market reputability, it ranked 2nd place with a market capitalization of $67.08 billion as of December 05, 2020. Ethereum is being traded on the top crypto exchanges including Binance, Houbi Global, ZG.com, & HBTC.
7 days price analysis of Ethereum from November 28, 2020, to December 04, 2020, revealed an upward rising trend in price with a fraction of price fluctuation which starts from $ 517.60 rising steadily to a high $616.72 in December, hitting overall 19.14% gain from November 28 to December 04, 2020.
Onward price movement from $517.60 on November 28 to December 02, 2020, Ethereum continued to rise & touched to the price height of $615.07, witnessed an 18.83 % gain. Then, it reversed to $587.26 on December 03, hitting a fall in price but on the very next day, it strengthened its position & rose to $598.46, accounted a 1.90 % increase in price.
With the recent launch of Ethereum 2.0, it is highly expected that Ethereum will set a new price record in the upcoming week.
Ripple is identified as real time gross payment system, currency exchanges and remittance network created by Ripple Inc. The traded currency is XRP which is exchanged for most of the other currencies due to high transaction throughput at low cost.
Ripple is the most popular cryptocurrency, ranked at the 3rd position with a current market cap of around $26.2billion on the Coinmarket cap. It is a much more centralized currency when compared to Bitcoin and Ethereum. Ripple launched with a maximum supply of 100 billion XRP tokens however, around 60 billion tokens are held by its founding company, Ripple Labs.
7 DAYS – ONE WEEK XRP REVIEW (Nov. 28 – Dec. 04, 2020)
Coinmarket Cap statistics revealed Ripple (XRP) today price is $0.584849 with a 24 hour trading volume of $ 10.01 billion. XRP is up 2.29% in the last 24 hours as of December 05, 2020.
Source Link: https://coinmarketcap.com/currencies/xrp/historical-data/
On December 04, 2020, XRP is being traded at $0.631469 which is all time high prices recorded during 7-day period. On November, 28, the price of XRP was $0.559677 with a market capitalization of $ $28.37 billion & a trading volume of $17.17. XRP surged by 12.82% gain in one week.
On November 30, it reversed a -3.10 % gain in price from the previous day (November 29), at $0.606289 from 0.625742 but the market capitalization rose from $27.49 billion to 30.11 billion. This indicates growing interest of stakeholders in the XRP investment.
But on the very next day, On December 01, the sign of abrupt increase in price of has been observed, when the price of XRP surged up to $0.664515, marked a 9.60% increase in price value of XRP.
On December 02, XRP price declined to -7.75% at 0.612992 but market capitalization of XRP increased from $27.78 billion to $28.55 billion.
Onward December 03, 2020, a constant price gain trend in XRP continued to rise with a fraction reverse in price, at $0.58584.
RippleNet claims to operate over 55 countries with 120 plus currency pairs. It is the one of the most valued currency. It is much expected that XRP will observe escalate in price value over time.