The bears stepped up a gear on February 25 - March 3, dropping the price of BTC Standard Hashrate Token by 8%.
The downward movement of the BTC Standard Hashrate Token price last week indicates the chosen market is bearish. The price swings of BTCST pointed to the presence of medium volatility. The price action on the coin's market translated to the decline of market capitalization. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.
While the volatility remains restrained, BTC Standard Hashrate Token isn't making any explosive moves. The average volatility of 5% was the reason why the price of BTCST didn't put up any significant gains. The largest volatility for the given period occurred on February 25 and amounted to 5.68%. 0.35% was the rock bottom for the asset's volatility that was reached on March 1. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 5%.
During the opening day on February 25, BTCST has had a 1% move to the upside. On February 26, the price of the coin has shifted by 2% from the daily open on the back of a good trading volume. During the next trading day, the rate of change in the price of BTC Standard Hashrate Token stood at 2% having reached the low at $0.8 and the high at $0.82 as the advantage remained on the side of sellers. BTCST ’s performance during February 28 was the following: the price increased by 1% in conjunction with the acceptable trading volume. On March 1, BTC Standard Hashrate Token finished the trading day with no changes to the flatlined market. The crypto coin opened the trading session on March 2 at $0.81 and finalized it at $0.8; the highest point of price action was at $0.82, the lowest was detected at $0.8. March 3 presented us with the following price action data: the coin opened the period at $0.8 and went on to establish the low at $0.72 and the high of the day at $0.8 before closing the day at $0.76. Over the course of all trading sessions, the asset established the weekly low at $0.72 while buyers managed to push the price up to the weekly high at $0.84. The difference between the lowest and the highest price points for the week was 8%, as the price moved in the $0.07 wide corridor.
The trading activity on the BTC Standard Hashrate Token market over the past week - February 25 to March 3 - generated the average trading volume that went from $38 010 to $225 675. Over the week that came before the analyzed time span, the average trading volume of BTCST ranged between $36 361 and $98 361. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 12%, and the 8% price shift.
Bitcoin began the observed period February 25 - March 3, with the market capitalization of $5 948 084 and finalized it at the market capitalization level of $5 599 921. When translated to percentage rate, the market capitalization of BTCST over the past week adjusted by 6%. When compared to the price fluctuations during the observed period of time, the 6% market capitalization movement was accompanied by a 8% change in the price of the coin. The comparison with the BTC Standard Hashrate Token market capitalization seen during the time period February 18 - February 24 that occurred before the observed one, which changed by 5%, from $6 292 709 to $5 999 736, allows us to get a clearer understanding of current market conditions.