Red clouds gathered above the Minto market last week (September 25 - October 1) as the price went down by 8%.
The downward movement of the Minto price last week indicates the chosen market is. BTCMT has been going through a period of high volatility, which fell in line with the occurred price changes. The price action on the coin's market translated to the decline of market capitalization. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.
We have established that the average volatility of Minto was at 81% in concert with its rapid price change. September 25 was the day when the asset was the most volatile, with the volatility going as high as 81%. The coin saw its volatility drop to a minimum at 2.73% on October 1. The high volatility of 81% points to the possibility of unpredictable and violent price action.
On September 25, the Minto market opened at $0.73, preceded by a period of neutral action. The first day of price action was marked by the 13% move to the downside from the point where the trading session opened. The market sentiment on September 26 stayed as the coin obtained another 23%. During the following trading period on September 27, the price of Minto oscillated between the low at $0.48 and the high at $0.88, while the price moved up by 80%. The trading volume on September 28 rendered support to the 43% bearish move of BTCMT. Minto finalized the trading day of September 29 at $0.52 after opening it at $0.51, though the price broke through that corridor to hit the 24H high at $1.04 and the 24H low at $0.47. The trading period on September 30 saw the crypto coin forming the price amplitude between the open at $0.52 and the close at $0.77, also interacting with $0.5 (24H low) and $0.5 (24H high). On the last day of the reviewed period, the coin was locked between $0.56 and $0.58, though the price managed to puncture these levels to reach the 24H high at $0.59 and the 24H low at $0.55. The highest point of the price action over the week was at $1.05 - the weekly low during the same period was established at $0.47. As a result of price action within the designated time period, the price movement range on the Minto market was established at $0.05 or 8% between the weekly low and the weekly high.
Minto ’s average trading volume on the opening day of the observed time period, September 25, stood at $289, while on the closing day of the same period, it moved to $5 005. Over the week that came before the analyzed time span, the average trading volume of BTCMT ranged between $11.65 and $10 303. The average trading volume of the asset fluctuated by 76% by comparison with the previous period, whereas the price change of 8% took place over the same period of time.
The past week saw the market capitalization of Minto making a shift from $1 799 927 on September 25 to $1 381 281 on October 1, the peak for the analyzed period. The rate of percentage change for the last week for BTCMT was 23%. The 23% change in the coin's market capitalization affected the price rate that saw a 8% shift in the same time period. 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 $1 830 558 on September 18 and $1 178 250 on September 24, which translates to a 36% change.