Bitcoin 2

A 35% drop on the Bitcoin 2 market last week (November 11 - November 17) signals that the sellers are gaining strength.

The price of Bitcoin 2 was falling last from November 11 until November 17, giving enough reason to conclude that the market is. BTC2 has been going through a period of high volatility, which fell in line with the occurred price changes. The asset saw its market capitalization falling over the reviewed period together with its price. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.

According to our calculations, Bitcoin 2 experiences larger than usual price fluctuations, which translates to the average volatility percentage of 24.4% during the period under review. November 11 was the day when the asset was the most volatile, with the volatility going as high as 24.4%. The lowest volatility for the given period was spotted on November 17 and reached 1.2%. The present volatility of 24.4% is indicative of unstable market conditions.

During the opening day on November 11, BTC2 has had a 16% move to the downside. The 12% move in the upward direction took place on the second day after the weekly open. During the following trading period on November 13, the price of Bitcoin 2 oscillated between the low at $0.9 and the high at $0.94, while the price moved down by 2%. BTC2 ’s performance during November 14 was the following: the price declined by 1% in conjunction with the acceptable trading volume. November 15 kicked off with Bitcoin 2 trading opening at $0.9 and then closing the session at $0.73, establishing the 24H low at $0.73 and 24H high at $0.9 in the process. The activity on the crypto coin's market on November 16 resulted in the asset being traded between $0.74, the open of the day, and $0.72, the close of the day; at some point, the price spiked to the daily high at $0.74 and briefly dropped to the daily low at $0.32. On the last day of the reviewed period, the coin was locked between $0.72 and $0.54, though the price managed to puncture these levels to reach the 24H high at $0.75 and the 24H low at $0.5. Over the course of all trading sessions, the asset established the weekly low at $0.32 while buyers managed to push the price up to the weekly high at $1.09. Bitcoin 2 bounced 35% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.29.

Over the period of the last 7 days, November 11 to November 17, Bitcoin 2 saw its average trading volume fluctuate between $132 and $16.79. A more comprehensive analysis of BTC2 price action requires the comparison of the trading volume between November 11 and November 17 with that from the preceding week that demonstrated how the trading volume fluctuated between $0.57 and $318. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 150%, and the 35% price shift.

Bitcoin 2 had its total market capitalization change from $18 003 055 on November 11 to $8 985 947 on November 17, the end of the examined time frame. The percentage change in the total market capitalization of BTC2 amounted to 50%. The price of the coin changed by 35% on the back of the 50% shift in its total market capitalization. Bitcoin 2 ’s market capitalization from the week before changed by 42%, as the result of fluctuation between $11 075 132 and $18 003 055, to give a clearer vision of the current state of the market.

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Article date: November 17 | November 11 - 17

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