During the week of June 30 to July 7, the BTC price underwent a gradual increase.In this article, we will analyze the Bitcoin price side-by-side with four other coins: Ethereum (ETH), Bitcoin Cash (BCH), Tron (TRX), and Monero (XMR). These four coins are selected because they had the highest rate of increase between June 30 and July 7 out of the top 15 coins ranked by market capitalization. If you would like to trade Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and other cryptocurrencies on our partner exchange, follow this link to get all signed up on XCOEX.
The prices of Bitcoin (Candlesticks), Ethereum (Orange), Bitcoin Cash (Purple), Tron (Red) and Monero (Green) are analyzed at two-hour intervals from June 30 to July 8
BTC began the week with a significant decrease. By July 2, it had decreased by 18 percent relative to its price in the beginning of the week. An increase with a similar rate ensued. On July 4, the BTC price had regained all of its lost value. Afterwards, another decrease ensued. BTC finished the measuring period with a decrease of 3.44 percent. XMR was the highest riser for the week. Until June 2, it followed BTC’s decrease almost identically. Afterward, the Monero price began to increase, albeit at a slower rate than BTC. This movement continued until July 6.At that time, XMR’s rate of increase intensified, finally overtaking BTC. XMR finished the measuring period with an increase of 7.56 percent. ETH, TRX, and BCH had very similar movements. They all moved in the same way direction as Bitcoin. However, their movements were significantly less volatile. This is especially noticeable during the decrease on July 2, when the three coins decreased inside a range of 3-7 percent, compared to 18 percent for BTC. However, on July 7, ETH and TRX began a significant increase. This increase was stronger for TRX, which finished the measuring period with an increase of 1.1 percent. ETH on the other hand, increased at a slower rate, and finished the measuring period with a decrease of 1.1 percent. The full results are shown in the table below:
|Asset||Rate of Increase|
|Bitcoin Cash (BCH)||-5.03%|
Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile. Images are courtesy of Shutterstock, TradingView.
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.