Hi guys it’s that time of the week again, and also the last month of August, I don’t know about others, but August definitely felt like a storybook that was never going to end.
August did bring profits, lessons, loss, and many others. Some left the crypto space and others joined but along the way, we were all impacted by this platform called cryptocurrency.
To round this month, let’s quickly take a look into the crypto market of last week and how it all went down.
As usual, Crypto Weekly focuses on BTC, ETH, and EOS with regards to their coin prices over the past week.
This past week has been a roller coaster ride and also a form of separator removing the weak hands from the strong.
Starting at a price of $11700+ Bitcoin soon took a dip dive going as far as 11200 and as usual, FUD came into play and many were forced or rather afraid of it crashing leading to them selling low.
The market is highly volatile and one of the key points explained to any newbie coming into this space is that if you can’t take the heat from the kitchen then don’t bother stepping in.
There are times you begin to question the very existence of bitcoin if it was meant to liquidate you or probably all odds are simply against you.
That said, the mass adoption is ongoing, and learning about bitcoin and altcoin is definitely a win-win situation even though you are not a trader but getting the basic knowledge is highly essential.
Just like the Phoenix bird, ETH just pulled a death and awoke scene, gaining a higher price than its previous climbs.
During the chaos and uncertainty over bitcoin and altcoin during the past week, ETH experienced a drastic fall in its price as well, moving from a low of $370 to a high of $430+ where it currently rests as of the time of writing this article.
With the day to day activity currently going on around the Ethereum Blockchain, many are saying the best of ETH is yet to come and the next stop might actually be $500 if bitcoin continues to stay bullish.
The next few days will definitely be a telling point for the Ethereum Blockchain as it tries to break it current resistance, just maybe, a repetition of 2017 is about to happen or something close/better might just come in.
That said, Ethereum and like many other cryptocurrencies are highly volatile and users are always advised to do their own research before investing.
Some few weeks back we experienced a good rally surrounding the EOS blockchain, after moving from its then low to an ATH for the month of August, the joy and cheerfulness surrounding the EOS community have never been that great.
The feeling of seeing other coin pull 2x or more makes you doubt your call and thinking probably you invested in the wrong package, this was the feeling many community members felt about EOS during the bullish run.
Just like many altcoins, EOS soon dipped from its previous price to $2.9 until its recent come back, moving the coin from a new low to a price above $3.2 and still climbing.
This coming month you definitely don’t want to take your eyes off the charts, a continuation of the bullish run or something else is coming.
You simply don’t want to miss out on this.
Until some other time, stay safe.