Ravencoin, Ontology, Bitcoin Price: Market trends uncertain as volatility looms
Over the past few days, certain major crypto-assets have recorded significant price activity, whereas other tokens weren’t so lucky, failing to register any prominent changes in terms of valuation. The examples of Bitcoin, the world’s largest cryptocurrency, Ravencoin, and Ontology, are cases in point.
Bitcoin faced a tumultuous period over the last 48-hours as the coin recorded a strong surge of 12.40 percent, with its valuation jumping from $5856 to $6582. However, corrections were quick to surface as a 3.87 percent dip took it down to $6280, at press time. Bitcoin’s market remained above $115 billion, with a trading volume of $32 billion over the past 24-hours.
The Bollinger Bands continued to point towards a volatile period for the king coin, but the Relative Strength Index highlighted a bearish turnaround as the selling pressure increased in the charts.
Bitcoin’s Q1 for 2020 is done, but reports have suggested that the king coin outperformed stocks in Q1, despite a 48 percent decline on 13 March.
31st ranked Ontology registered a minor growth of only 0.38 percent on the charts as its price scaled from $0.367 to $0.368. However, in between, the price had spiked up to $0.377, but a pullback was quickly witnessed. Its market cap remained over the $240 million mark, with a 24-hour trading volume of $66 million.
The Chaikin Money Flow or CMF suggested that capital outflows were more than capital inflows, at the time of press. However, volatility levels remained subdued as the Bollinger Bands pointed to parallel mediation.
Ontology was in the news lately after recent reports suggested that Ontology, Accomplice, and KingdomTrust had collaborated to support the solutions of joint custody to prospective investors.
Finally, Ravencoin recorded a decent 6.19 percent hike over the past day, with its valuation improving from $0.0146 to $0.0157. At press time, RVN token was valued at $0.0152 as the indicators remained split on its market trend.
The Awesome Oscillator indicator suggested that bulls were gaining momentum in the market, but the MACD indicator represented close proximity between the signal line and MACD line.
The market cap remained under the $90 million range, but the trading volume was low with only $8.9 million over the past 24-hours.