Bitcoin dominated proceedings for the third week in succession as investors continued to pour funds into the world’s premier cryptocurrency. The short time difference between the Bitcoin Gold (BTG) fork of October 24 and the SegWit2X fork planned for mid-November has motivated investors to continue to focus on increasing their Bitcoin holdings. Bitcoin opened up the week by trading at a price of just under $6000 with a 24hr market volume of $1.4B. Bitcoin continued to grow in price over the course of the seven-day period and broke the $7000 barrier on Thursday. Despite fears that this figure would trigger a number of sell orders, Bitcoin continued to hold strong and experienced the most trading on Thursday with a 24hr trade volume of $4.5B. Towards the end of the week, there was a period of slight fluctuation as Bitcoin flirted with a number of all time high prices. There is a tendency for investors to exit their positions at the end of the week and set up a number of sell orders, however, this had no effect on the price of Bitcoin as it approached the $7500 mark on Saturday and crossed it today. Bitcoin is currently trading at a price of around $7550 and since Monday has experienced a price increase of over 25%. Bitcoin ended the week with 24hr trading volume figures of just under $2B, while also maintaining a market cap of around $124B and a market dominance of 62%.

Bitcoin’s continued dominance of the cryptocurrency market resulted in the majority of the major currencies experiencing a very similar price action over the course of the week. The top altcoins started the week with a level of relative stability before experiencing a sharp drop in price as Bitcoin began to approach the $7000 mark. Ethereum (ETH) generally traded at around $300 for the first three days of the week before dropping to a price of just under $285 on Wednesday, which was an 8% drop on its Monday high of $308. The two-day midweek period of Wednesday and Thursday saw Ethereum experience its highest trading volume and it managed a 24-hour trading volume of just over $740M. Despite the sell offs, Ethereum was able to recover by the end of the week and begin to trade at just under the $300 mark. Ethereum is currently trading at $298 with a market cap of $28.5B.

It was a similar story for Ripple (XRP), Litecoin (LTC), and Dash who all started the week with fairly stable positions before experiencing significant drops in price during the midweek. Ripple dropped from a price of $0.20 to $0.18 before recovering by the end of the week, while Litecoin started off by trading at around $55 before falling to a price of approximately $51. However, it went on to recover its position as the week closed. Dash fell to around $254 from its opening price of just over $280 and by the end of the week had rallied to reach a trading price of over $270.

A rather surprising winner of the week was Bitcoin Cash (BCH), which benefitted from an increase in interest generated from the successive Bitcoin forks by climbing in price from just under $460 of Monday to a peak of $680 of Friday, a growth in value of just over 47%. After experiencing some pullback, Bitcoin Cash is currently trading at around $600 with a market cap of just over $10B.