The bears had a field day between January 11 and January 17 as HashBit got knocked down by 72%.
The bearish behavior of HashBit last week was characterized by the occurrence of downswings. The volatility of HBIT has been high throughout the reviewed period in correspondence with the price action. 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.
We have established that the average volatility of HashBit was at 61.9% in concert with its rapid price change. January 11 was the day when the asset was the most volatile, with the volatility going as high as 61.9%. On January 17, the coin's volatility was at its minimum level of 3.45%. When the volatility goes as high as 61.9%, the HBIT market tends to be erratic and hard to predict.
During the opening day on January 11, HBIT has had a 190% move to the upside. The coin market was up by 3% on January 12, the second day of the reviewed time period. HashBit posted the interim low at $0.000008 on January 13 and then moved up by 7% and peaked at $0.00003. Over the next trading period (on January 14), HBIT was moving up by 56% on the back of a congruous trading volume. After the open at $0.00003, HashBit moved during January 15 in the range between the said open and the close at $0.00001, having posted the 24H low at $0.000006 and the 24H high at $0.00003. While the 24H high and low on January 16 were at $0.00003 and $0.000009, respectively, the crypto coin had been traded in the area between the open at $0.00003 and the close at $0.00002. Between the 24H high at $0.00004 and the 24H low at $0.000008, the coin was traded in the $0.00003 - $0.000008 price corridor. During the reviewed time period, the asset was able to achieve the weekly high at $0.00005, though at a certain point, the bear pressurized the price down to the weekly low at $0.000003. HashBit shaped the $0.00002 price range over the week of price action, which constituted the 72% gap between the weekly low and the weekly high.
The past 7 days were marked by a change in average daily trading volume from $363 496 on January 11 to $820 on January 17. During the week before January 11, the trading volume of HBIT flowed from $5 863 to $216 308. The 1288% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 72%.
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.