The market crumbled last week (November 13 - November 19) as Global Coin Research lost 29%.
Global Coin Research has been bearish last week as its price has been predominantly falling. The situation on the GCR market shows that the underlying asset is currently experiencing a period of medium volatility. The asset saw its market capitalization falling over the reviewed period together with its price. The price action of the crypto coin from last week stemmed from the decreasing trading volume.
Global Coin Research has been moving reservedly on the backdrop of average volatility. We established that GCR didn't showcase any significant price action due to the market's mild average volatility of 12%. The largest volatility for the given period occurred on November 13 and amounted to 14.39%. On November 17, the volatility of the asset was at its minimum at 0.75%. Since the volatility of 12% can be deemed as mild, the crypto coin's market can be characterised as composed.
The losses of GCR after the weekly open on November 13 amounted to 3%. The market sentiment on November 14 stayed bearish as the coin obtained another 6%. During the following trading period on November 15, the price of Global Coin Research oscillated between the low at $1.34 and the high at $1.39, while the price moved down by 4%. GCR ’s performance during November 16 was the following: the price declined by 1% in conjunction with the acceptable trading volume. The developments on the Global Coin Research market on November 17 started with the price opening at $1.33 and subsequently moving to $1.32, the close of the day, while dropping to the 24H low at $1.32 and spiking to the 24H high at $1.32. The activity on the crypto coin's market on November 18 resulted in the asset being traded between $1.32, the open of the day, and $1.13, the close of the day; at some point, the price spiked to the daily high at $1.33 and briefly dropped to the daily low at $1.13. As for the occurrences on November 19, the price of the coin bottomed at $1.05 and peaked at $1.13, while its daily range formed between $1.13 and $1.05. The asset posted the weekly low at $1.05, while the top of the weekly trading session was registered at $1.55. The price action on the weekly time frame made Global Coin Research within the 29% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.42.
As for the average trading volume in the time slot between November 13 and November 19, the Global Coin Research market registered the change from $2 263 to $13 774. We can draw the comparison with the period of 7 days that preceded the reviewed one when GCR ’s trading volume varied from $3 362 to $67 104. The average trading volume of the asset fluctuated by 86% by comparison with the previous period, whereas the price change of 29% took place over the same period of time.
The past week saw the market capitalization of Global Coin Research making a shift from $15 150 731 on November 13 to $11 266 315 on November 19, the peak for the analyzed period. GCR experienced a 26% change in total market capitalization throughout the past seven days. When compared to the price fluctuations during the observed period of time, the 26% market capitalization movement was accompanied by a 29% change in the price of the coin. A more precise analysis of the Global Coin Research market also requires a comparison with the change in market capitalization from the week before, which amounted to 27% on the back of the move from $20 526 305 to $14 926 118.