The November 8 - 14 market report: HashBit plunges by 17% as sellers apply more pressure.
The analysis of last week’s price action shows that the HashBit market is in the phase since the price has been moving downward. The price swings of HBIT pointed to the presence of medium volatility. No rise or fall was observed in the market capitalization of the coin during the period under review. No growth or loss has been observed in trading volume on the crypto coin's market.
The volatility has been suppressed, as the HashBit price action suggests. The market analysis reveals that the mild average volatility of 10% restrained HBIT 's price swings. The volatility of the coin reached its highest point at 16.67% during the observed period. The asset saw its volatility drop to the lowest level for the given period on November 12 as it shrank to 3.85%. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.
The market sentiment on November 9 stayed as the coin obtained another 8%. The cautious traders dominated the price action on November 10, with the HashBit market remaining flat. The next trading session was characterized by more price action (as HBIT made a 4% move) on the back of the consistent trading volume. HashBit finalized the trading day of November 12 at $0.00002 after opening it at $0.00003, though the price broke through that corridor to hit the 24H high at $0.000028 and the 24H low at $0.000024. The trading period on November 13 saw the crypto coin forming the price amplitude between the open at $0.00002 and the close at $0.00003, also interacting with $0.00002 (24H low) and $0.00002 (24H high). The coin's market saw no changes on November 14, as the market flatlined. The price action on the asset's market during the period between November 8 and November 14 topped at $0.00003, while the bottom of the price range was established at $0.00002. The price action on the weekly time frame made HashBit within the 17% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.000005.
The past 7 days were marked by a change in average daily trading volume from $632 241 on November 8 to $503 036 on November 14. In order to have a better grasp of the HBIT market, it’s necessary to compare the stats from the analyzed period with those from the week before, when the trading volume had gone from $117 108 to $967 705. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 40%, and the 17% price shift.
HBIT experienced no change in total market capitalization during the past week. The price of the coin was not changed, with a 0% shift in its total market capitalization. HashBit market capitalization from the week before experienced no change, as a result there were no price fluctuations.