Bitcoin 2

The market crumbled last week (November 14 - November 20) as Bitcoin 2 lost 22%.

The price of Bitcoin 2 was falling last from November 14 until November 20, giving enough reason to conclude that the market is. The situation on the BTC2 market shows that the underlying asset is currently experiencing a period of high volatility. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. The crypto coin's market experienced a falling trading volume during the observed time period, which fell in line with the price action.

Due to the active price action, the average volatility of Bitcoin 2 jumped to 39.78%. The highest volatility was recorded on November 14 - it amounted to 39.78%. On November 20, the coin's volatility was at its minimum level of 1.2%. The present volatility of 39.78% is indicative of unstable market conditions.

The first day of price action was marked by the 1% move to the downside from the point where the trading session opened. The 18% move in the downward direction took place on the second day after the weekly open. On November 16, the market was moving to the downside as Bitcoin 2 went 2% down from the low at $0.32 to the high at $0.74. Over the next trading period (on November 17), BTC2 was moving down by 24% on the back of a congruous trading volume. On November 18, Bitcoin 2 finished the trading day with no changes to the flatlined market. While the 24H high and low on November 19 were at $0.72 and $0.5, respectively, the crypto coin had been traded in the area between the open at $0.72 and the close at $0.5. Between the 24H high at $0.71 and the 24H low at $0.43, the coin was traded in the $0.44 - $0.7 price corridor. The price action on the asset's market during the period between November 14 and November 20 topped at $0.92, while the bottom of the price range was established at $0.32. As a result of price action within the designated time period, the price movement range on the Bitcoin 2 market was established at $0.2 or 22% between the weekly low and the weekly high.

As for the average trading volume in the time slot between November 14 and November 20, the Bitcoin 2 market registered the change from $0.33 to $757. Over the week that came before the analyzed time span, the average trading volume of BTC2 ranged between $0.005 and $191. The 579% trading volume fluctuation between November 14 and November 20, as compared with the previous period, served as a basis for a 22% price move.

Bitcoin began the observed period November 14 - November 20, with the market capitalization of $16 252 796 and finalized it at the market capitalization level of $7 830 067. The rate of percentage change for the last week for BTC2 was 52%. As a consequence of the 52% fluctuation in its market capitalization, the price of the coin changed by 22%. In order to get a better grasp of the current state of affairs on the market, it’s important to draw the comparison between the reviewed period and the preceding seven days when the market capitalization ranged between $20 018 456 on November 7 and $16 170 722 on November 13, which translates to a 19% change.

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Article date: November 20 | November 14 - 20

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