Bearish price action on March 1 to March 7 resulted in Bistroo by 6%.
The behavior of Bistroo last week was characterized by the occurrence of downswings. BIST was caught in a period of low volatility, which was reflected in its price action. No rise or fall was observed in the market capitalization of the coin during the period under review. No growth or loss has been observed in trading volume on the crypto coin's market.
The current state of affairs on the cryptocurrency market allows us to draw the conclusion that Bistroo is now going through the cycle of low volatility. The insignificant movement of the BIST market came as the result of low average volatility that amounted to 0.15%. The peak of the coin's volatility for the given time period was reached on March 5 when this parameter went as low as 5.23%. The quietest period on the asset's market was recorded on March 5, when the volatility dropped to the minimum at 0.15%. Since the crypto coin is displaying low levels of volatility, the price action is likely to remain feeble.
On March 1, the first trading session of the reviewed time period, the market participants saw BIST moving down by 1%. On March 2, the price of the coin has shifted by 3% from the daily open on the back of a good trading volume. On March 3, the market was moving to the downside as Bistroo went 5% down from the low at $0.02 to the high at $0.02. The BIST market was up as the price shifted by 2% on March 4, against the backdrop of the sufficient trading volume. On March 5, Bistroo finished the trading day with no changes to the flatlined market. No changes were observed on the crypto coin's market on March 6. Most trading activity on March 7 occurred in the space between $0.02 and $0.02; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.02, though the bulls had also staged the rally to the 24H high at $0.02. During the reviewed time period, the asset was able to achieve the weekly high at $0.02, though at a certain point, the bear pressurized the price down to the weekly low at $0.02. The price action on the weekly time frame made Bistroo within the 6% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.001.
In the period March 1 - March 7, the trading volume of Bistroo went from $11 453 on the first day of the reviewed period to $12 156 on the closing day. We can draw the comparison with the period of 7 days that preceded the reviewed one when BIST ’s trading volume varied from $14 443 to $15 559. The 21% trading volume fluctuation between March 1 and March 7, as compared with the previous period, served as a basis for a 6% price move.
BIST experienced no change in total market capitalization during the past week. The price of the coin was not changed, with a 0% shift in its total market capitalization. Bistroo market capitalization from the week before experienced no change, as a result there were no price fluctuations.