While Bitcoin [BTC] had a fairly quiet week, some of the altcoins underwent massive volatility. Some of the IEO like Matic Network had massive drops earlier this week.
Moreover, the entire market traded in the red, as well as the volume of trading, was comparatively lower. Bitcoin stayed above $7200 as the price barely moved. Nevertheless, towards the end of the week, the price broke bearish. It dragged the altcoins down with it too.
Tezos [XTZ] has been one of the best performing cryptocurrencies of the week. The price rose parabolically and met with resistance near ATH levels. However, it failed to break above the high as recorded a reversal candle on the 13th.
Nevertheless, the price still seems to be holding above the $1.7 and the bulls are not out entirely. Tezos [XTZ] staking has seen increasing support from leading crypto exchanges.
Opening Price: $1.44
Closing Price: $1.71
Weekly Gain: 6.61%
Weekly High/Low: $1.86/$1.39
Bitcoin Cash [BCH]
Bitcoin Cash [BCH] has been trading in a tight range for a couple of weeks. This week was even duller as the range contracted even further.
Opening Price: $212
Closing Price: $206
Weekly Loss: -2.9%
Weekly High/Low: $215/$203
Chainlink [Link] has been one of the most volatile cryptocurrencies of the week. The price has seen multiple bows of ups and downs.
As the price seemed to reverse from its bullish trend earlier this week, is now seeing a slight reversal over the weekend.
Opening Price: $2.05
Closing Price: $2.1
Weekly Gain: 2.18%
Weekly High/Low: $2.3/$1.96
Opening Price: $3.9
Closing Price: $4.4
Weekly Gain: 13.3%
Weekly High/Low: $4.6/$3.5
Although ‘Chinese Ethereum’ is about the close the week in the red, the loses are lower than most altcoins.
However, NEO has lost a lot of value ever since the Chinese decided to continue to act against the interest of cryptocurrencies. Their focus remains with blockchain projects and deterring trading in their markets.
Opening Price: $9.09
Closing Price: $8.92
Weekly Loss: 1.84%
Weekly High/Low: $9.23/$8.37
**The data is taken at around 19: 00 Hours UTC on 16th December 2019
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com