The market crumbled last week (September 13 - September 19) as Cloakcoin lost 27%.
Between September 13 - September 19, Cloakcoin has been mostly bearish as its price has been in the falling mode. CLOAK has been going through a period of high volatility, which fell in line with the occurred price changes. 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 considerable chops and changes in the price of Cloakcoin resulted in average volatility of 54.88%. The volatility of the asset has reached the extreme after going as high as 54.88% - it happened on September 13. The volatility of the coin fell to its lowest on September 19 when it slid to 0.6%. When the volatility goes as high as 54.88%, the CLOAK market tends to be erratic and hard to predict.
The price of CLOAK took a 10% down downswing at the open of the weekly trading period. September 14 saw the coin going another 47% since the open, supported by the corresponding trading volume. On September 15, the market was moving to the downside as Cloakcoin went 15% down from the low at $0.23 to the high at $0.28. The CLOAK market was down as the price shifted by 8% on September 16, against the backdrop of the sufficient trading volume. The price oscillation of Cloakcoin on September 17 was in the $0.24 - $0.26 range; at the same time, the price stretched out to reach the 24H low at $0.21 and the 24H high at $0.26. The crypto coin opened the trading session on September 18 at $0.26 and finalized it at $0.25; the highest point of price action was at $0.26, the lowest was detected at $0.21. The coin found the deepest trough (24H low) at $0.21 on September 19 and then exploded to the ceiling (24H high) at $0.25; the price range for that day was between $0.25 and $0.21. During the reviewed time period, the asset was able to achieve the weekly high at $0.32, though at a certain point, the bear pressurized the price down to the weekly low at $0.14. Traders saw Cloakcoin covering the $0.08 distance between the weekly low and the weekly high, which constituted for a 27% move.
Cloakcoin ’s average trading volume on the opening day of the observed time period, September 13, stood at $1 300, while on the closing day of the same period, it moved to $583. Over the week that came before the analyzed time span, the average trading volume of CLOAK ranged between $124 and $2 439. The 44% trading volume fluctuation between September 13 and September 19, as compared with the previous period, served as a basis for a 27% price move.
The total capitalization of Bitcoin at the start of the analyzed time period (September 13) amounted to $1 868 933; by the end of that period (September 19), the capitalization went to $1 452 881. The rate of percentage change for the last week for CLOAK was 22%. As a consequence of the 22% fluctuation in its market capitalization, the price of the coin changed by 27%. 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 $1 153 867 on September 6 and $1 853 440 on September 12, which translates to a 61% change.