The capitulation of March 5 - March 11 : BTC Standard Hashrate Token experienced a 15% dive.
Between March 5 - March 11, BTC Standard Hashrate Token has been mostly bearish as its price has been in the falling mode. The situation on the BTCST market shows that the underlying asset is currently experiencing a period of medium volatility. There has been a fall in the market capitalization of the asset during the period under review. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.
The price action of BTC Standard Hashrate Token has been contained due to modest volatility. The average volatility of 6% was the reason why the price of BTCST didn't put up any significant gains. The most significant volatility occurred on March 5 and reached 7.19%. 1.11% was the rock bottom for the asset's volatility that was reached on March 9. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 6%.
While the overall situation on the BTC Standard Hashrate Token market was bearish, the trading session on March 5 kicked off at the $0.75 price level. The 3% move in the upward direction took place on the second day after the weekly open. The cautious traders dominated the price action on March 7, with the BTC Standard Hashrate Token market remaining flat. The trading volume on March 8 rendered support to the 2% bearish move of BTCST. The developments on the BTC Standard Hashrate Token market on March 9 started with the price opening at $0.66 and subsequently moving to $0.63, the close of the day, while dropping to the 24H low at $0.63 and spiking to the 24H high at $0.63. The crypto coin opened the trading session on March 10 at $0.62 and finalized it at $0.6; the highest point of price action was at $0.62, the lowest was detected at $0.58. The coin found the deepest trough (24H low) at $0.6 on March 11 and then exploded to the ceiling (24H high) at $0.71; the price range for that day was between $0.6 and $0.63. Over the course of all trading sessions, the asset established the weekly low at $0.58 while buyers managed to push the price up to the weekly high at $0.75. The price action on the weekly time frame made BTC Standard Hashrate Token within the 15% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.11.
BTC Standard Hashrate Token ’s average trading volume on the opening day of the observed time period, March 5, stood at $35 514, while on the closing day of the same period, it moved to $79 444. Over the week that came before the analyzed time span, the average trading volume of BTCST ranged between $21 562 and $225 675. Percentage-wise, the trading volume of the asset changed by 7%, in comparison to the previous period, while its price experienced a 15% adjustment.
The change in the total market capitalization of BTC Standard Hashrate Token from March 5 to March 11 was as follows: on March 5, the capitalization was at $5 414 337, while on March 11, it reached the level of $4 705 752. The percentage change in the total market capitalization of BTCST amounted to 13%. The said 13% percentage change in market capitalization of the coin was accompanied by the 15% fluctuation in the price of the underlying asset. In the preceding week, February 26 - March 4, the market capitalization of BTC Standard Hashrate Token got a 8% adjustment ($5 938 228 to $5 470 371) in comparison to a 13% change last week; this allows getting a deeper insight into the market structure.