The bears had a field day between September 8 and September 14 as Cloakcoin got knocked down by 22%.
Between September 8 - September 14, Cloakcoin has been mostly bearish as its price has been in the falling mode. CLOAK was caught in a period of high volatility, which was reflected in its price action. Last week’s market conditions reflected on the market capitalization of the asset, which was rising. The crypto coin's market experienced a growing trading volume during the observed time period, which fell in line with the price action.
We have established that the average volatility of Cloakcoin was at 46.82% in concert with its rapid price change. The largest volatility percentage during the given time span was 46.82% - it occurred on September 8. The quietest period on the coin's market happened on September 14 as the volatility failed to surpass the 0.52% mark. When the volatility goes as high as 46.82%, the CLOAK market tends to be erratic and hard to predict.
On September 8, the first trading session of the reviewed time period, the market participants saw CLOAK moving up by 1%. The market sentiment on September 9 stayed bullish as the coin obtained another 18%. During the next trading day, the rate of change in the price of Cloakcoin stood at 9% having reached the low at $0.23 and the high at $0.25 as the advantage remained on the side of buyers. The trading volume on September 11 rendered support to the 7% bullish move of CLOAK. September 12 kicked off with Cloakcoin trading opening at $0.27 and then closing the session at $0.31, establishing the 24H low at $0.27 and 24H high at $0.32 in the process. While the 24H high and low on September 13 were at $0.32 and $0.26, respectively, the crypto coin had been traded in the area between the open at $0.31 and the close at $0.28. As for the occurrences on September 14, the price of the coin bottomed at $0.15 and peaked at $0.28, while its daily range formed between $0.28 and $0.15. $0.15 was the bottom of price action for the week, though the price went to the high extreme at $0.32 over the same time period. The price action on the weekly time frame made Cloakcoin within the 22% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.04.
In the period September 8 - September 14, the trading volume of Cloakcoin went from $862 on the first day of the reviewed period to $17.02 on the closing day. We can draw the comparison with the period of 7 days that preceded the reviewed one when CLOAK ’s trading volume varied from $4.4 to $1 136. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 151%, and the 22% price shift.
Bitcoin began the observed period September 8 - September 14, with the market capitalization of $1 144 319 and finalized it at the market capitalization level of $1 425 361. The rate of percentage change for the last week for CLOAK was 25%. The price of the coin changed by 22% on the back of the 25% shift in its total market capitalization. In the preceding week, September 1 - September 7, the market capitalization of Cloakcoin got a 8% adjustment ($1 320 312 to $1 208 346) in comparison to a 25% change last week; this allows getting a deeper insight into the market structure.