The bears had a field day between September 16 and September 22 as Cloakcoin got knocked down by 97%.

The price of Cloakcoin was falling last from September 16 until September 22, giving enough reason to conclude that the market is bearish. The volatility associated with the CLOAK market was high, as were its price fluctuations. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.

According to our calculations, Cloakcoin experiences larger than usual price fluctuations, which translates to the average volatility percentage of 96.7% during the period under review. The largest volatility percentage during the given time span was 96.7% - it occurred on September 16. On September 22, the coin's volatility was at its minimum level of 0.6%. The increased volatility of 96.7% on the CLOAK market suggests large price swings in either direction, which is indicative of market instability.

On September 16, the first trading session of the reviewed time period, the market participants saw CLOAK moving down by 8%. The coin market was up by 9% on September 17, the second day of the reviewed time period. The bears dominated the price action during the following trading period as the price drifted 2% to the downside, having established the low for the reviewed time frame at $0.21, while the high was recorded at $0.26. CLOAK ’s performance during September 19 was the following: the price declined by 17% in conjunction with the acceptable trading volume. The developments on the Cloakcoin market on September 20 started with the price opening at $0.2 and subsequently moving to $0.2, the close of the day, while dropping to the 24H low at $0.15 and spiking to the 24H high at $0.15. The crypto coin opened the trading session on September 21 at $0.2 and finalized it at $0.24; the highest point of price action was at $0.24, the lowest was detected at $0.2. Between the 24H high at $0.23 and the 24H low at $0.008, the coin was traded in the $0.23 - $0.008 price corridor. $0.008 was the bottom of price action for the week, though the price went to the high extreme at $0.28 over the same time period. Traders saw Cloakcoin covering the $0.23 distance between the weekly low and the weekly high, which constituted for a 97% move.

Over the period of the last 7 days, September 16 to September 22, Cloakcoin saw its average trading volume fluctuate between $512 and $115. We can draw the comparison with the period of 7 days that preceded the reviewed one when CLOAK ’s trading volume varied from $17.02 to $2 439. The average trading volume of the asset fluctuated by 60% by comparison with the previous period, whereas the price change of 97% took place over the same period of time.

The total capitalization of Bitcoin at the start of the analyzed time period (September 16) amounted to $1 609 140; by the end of that period (September 22), the capitalization went to $1 330 234. When translated to percentage rate, the market capitalization of CLOAK over the past week adjusted by 17%. The price of the coin changed by 97% on the back of the 17% shift in its total market capitalization. Cloakcoin ’s market capitalization from the week before changed by 38%, as the result of fluctuation between $1 210 176 and $1 609 140, to give a clearer vision of the current state of the market.

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Article date: September 22 | September 16 - 22

Market reviews for similar coins for September 16 - 22