Bitcoin [BTC] volatility has increased over the past few weeks. The last 30-Day Estimated of volatility in Bitcoin is around 5.04%. Moreover, the volatility has usually been inclined towards the positive side.
Nevertheless, the momentum has shifted slightly towards the bearish side as the traders look for a pullback. However, the pullback was limited at around $7500 during the past week. The trading range was usually around $7800-$7900 during the week.
This was also one of the first weeks since February when Bitcoin recorded a significantly long red candle. The total market capitalization of the market has been around $250 billion, with Bitcoins dominance around 55.5%.
Opening Price: $8735
Closing Price: $7901
The weekly Loss: 9.61%
Weekly High/Low: $8745/$7432
Litecoin has been one of the best performing coins of the week, with an upwards momentum. The market is possibly expecting gains because of the halving event, which is due to occur in less than two months.
The bullish momentum in the cryptocurrency market seems to have cooled down with Bitcoin [BTC] looking down towards a pullback, Litecoin gains have maintained the positive energy in the market.
Opening Price: $114
Closing Price: $117
The weekly gains 2.6%:
Weekly High/Low: $121/$97.5
XRP had an exciting week with volatility induced by rumors and speculation. XRP broke above the 0.000054 BTC mark as news of Ripple acquiring MoneyGram started to spread.
Nevertheless, the price held its gains above $0.4. Moreover, the yearly benefits on XRP have been limited this year contrary to its performance and the large community of investors around the world. This has been probably affected by centralized coins being designed by JPMorgan and Facebook.
Opening Price: $0.44
Closing Price: $0.40
The weekly loss: 9.04%
Weekly High/Low: $0.464/$0.382
Bitcoin SV [BSV]
Bitcoin SV [BSV] continued its gains at the start of the month as it seems to be consolidating at the high above $200. In a week more than a fort-night BSV has gained from $60 to trade above $200. The price was accentuated with another rumor on Satoshi Nakamoto’s identity. While there has been volatility around it, the momentum has been towards the positive.
Opening Price: $192
Closing Price: $195
The weekly loss: 3.14%
Weekly High/Low: $237/$173
Cosmos has been one of the few cryptocurrencies with limited weekly loss as the positive momentum on it was maintained at the beginning of the month as well.
Opening Price: $6.4
Closing Price: $6.11
The weekly loss: 0.05%
Weekly Low/High: $5.64/$7.2
Binance [BNB] Coin
Binance [BNB] Coin has been trading news the $30 region. The Exchange backed token was one of the best performing coins of the first quarter in 2019, was affected after the Binance Hack. However, the recovery has been consistent as none of the users were affected.
The scale of economy in the cryptocurrency market and the growth of the Exchange has been faring well of Binance coin holders as well.
Opening Price: $33.1
Closing Price: $31.6
The weekly loss: 4.5%
Weekly High/Low: $33.2/$28
*The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $0.5 billion is 0.23%. Hence, for Analysis purpose, we will only consider cryptocurrencies with a total market capitalization $0.5 billion or more. For future analysis, we’ll try to maintain 0.25% as a standard for the calculation.
**The data is taken at around 11: 00 Hours UTC on 9th June 2019.
Nivesh from Engineering Background is a full-time Crypto Journalist at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com