Qtum sees limited 4% gains between November 17 and November 23 as the market cools down.

The upward movement of the Qtum price last week indicates the chosen market is. The situation on the QTUM market shows that the underlying asset is currently experiencing a period of low volatility. Last week’s market conditions reflected on the market capitalization of the asset, which was rising. The trading volume on the crypto coin's market has been increasing throughout the reviewed period along with its price.

The current state of affairs on the cryptocurrency market allows us to draw the conclusion that Qtum is now going through the cycle of low volatility. With the average volatility being as low as 0%, QTUM was incapable of making any sizable price swings. The most significant price swings occurred on November 21, when the volatility of the coin was at its highest for the given period at 4.93%. The quietest period on the asset's market was recorded on November 21, when the volatility dropped to the minimum at 0%. Since the current volatility of the crypto coin is low, we expect the price fluctuations of the digital asset at hand to be insignificant.

There were no gains or losses to the QTUM market on November 17, it remained flat. On November 18 the coin market stayed neutral, with no changes in the price. On November 19, the market was moving to the upside as Qtum went 3% up from the low at $2.05 to the high at $2.12. On November 21, QTUM market moved by 1% in the bearish direction in concert with the trading volume. After the open at $2.09, Qtum moved during November 21 in the range between the said open and the close at $2.01, having posted the 24H low at $1.98 and the 24H high at $2.09. While the 24H high and low on November 22 were at $2.04 and $1.95, respectively, the crypto coin had been traded in the area between the open at $1.98 and the close at $2.03. November 23 presented us with the following price action data: the coin opened the period at $2.05 and went on to establish the low at $2.04 and the high of the day at $2.14 before closing the day at $2.13. The asset posted the weekly low at $1.95, while the top of the weekly trading session was registered at $2.17. The price action on the weekly time frame made Qtum within the 4% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.08.

Over the period of the last 7 days, November 17 to November 23, Qtum saw its average trading volume fluctuate between $17 246 292 and $15 479 932. During the week before November 17, the trading volume of QTUM flowed from $16 977 472 to $43 553 770. The 42% trading volume fluctuation between November 17 and November 23, as compared with the previous period, served as a basis for a 4% price move.

Bitcoin began the observed period November 17 - November 23, with the market capitalization of $214 406 491 and finalized it at the market capitalization level of $215 538 072. 1% was the calculated percentage change for the QTUM market over the past week. The said 1% percentage change in market capitalization of the coin was accompanied by the 4% fluctuation in the price of the underlying asset. 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 $207 977 631 on November 10 and $218 773 546 on November 16, which translates to a 5% change.

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Article date: November 23 | November 17 - 23

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