![]() ![]() The use case of Bitcoin as a payment instrument They just used a concept and a protocol created back in 1991, add some improvements, and presented the model of the decentralized financial system and the first cryptocurrency. Additionally, the system used private keys or digital signatures to sign the document. Thus, the data structure keeps the strict chronological order. Every record included the hashes of previous records’ certificates. One of the possible solutions was a system where document timestamps could not have tampered with. The initial idea was in creating a storage system where documents are protected from unauthorized changes. Even before BTC developers launched the first distributed ledger, the concept of blockchain was described by different computer scientists. But we shouldn’t forget that they (or he) have also created the first blockchain - the only kind of digital network where cryptocurrencies can operate. We know people with the nickname, Satoshi Nakamoto, as the Bitcoin creators. What is Bitcoin (BTC) and how it can change the global financial system? And high liquidity means fast execution of even large-volume trading orders. Usually, the smaller the spread, the higher the market liquidity. This indicator visually reflects how many customers are willing to buy or sell Bitcoin (BTC) for a particular price.Ĭonsequently, we can see the market spread - the difference between the lowest bid (buy) price and the highest ask (sell) price. To find more supportive info for their suggestions, experienced traders often check the market depth formed by the order book records. Theoretically, the price will soon return to the previous level. So, if you can see a significant increase or decrease in the BTC price, but the trading volume pillar is lower than many others shown nearby, that means market participants will most likely don’t support this shift. The answer is simple - the higher the trading volume is, the more people (or traders) are supporting the current trend. Why this info is important when analyzing the crypto market? You can see the customers’ trading volume under the candlesticks - they are grey pillars on the graph. They’re not overloaded with tins of oscillators, like on many other crypto platforms, but represent only the price fluctuations and the trading volume of different time periods. The CEX.IO live price charts are intuitively navigated and consist only of essential information needed for trading cryptocurrencies. However, keep in mind this value can change dramatically even the next minute. This is an approximate price at which you can buy Bitcoins (BTC) for now. Put the cursor on the latest candle (to the right part) and to find the current BTC in USD exchange rate. On the downside of the chart, we can see the time metric. When you look at the right part of the graph, you can see the price indexes. There are different pillows called ‘candlesticks’ that show the uptrend (those are green) and downtrend (if they are red). If you look at the Trade page on the CEX.IO website, you can see the chart representing the fluctuations of BTC market value. So, what info can you see on this graph? Price fluctuations This data helps to catch the good entry points and buy the asset for low prices and sell them when the value rises so as to get income. ![]() Traders use this information to understand the sentiments on the market - whether they are bullish (when the rate rising) or bearish (when it goes down). Whether you look at the price chart of the crypto or stock assets, you can see a visual representation of the price changes in different periods of time. Therefore it’s essential to follow the price charts and understand what influences the value of BTC and other coins and tokens. At the same time, trading crypto involves higher risks. That’s why it’s so attractive for institutional and retail users. ![]() Besides, trading cryptocurrencies don’t require special finance education. ![]() By trading virtual currencies you can make profits more quickly than when you trade stocks. It’s worth mentioning that crypto markets are highly volatile. Thus, the majority of crypto enthusiasts are investors or traders who are trying to get a profit by speculating on crypto prices. Nowadays, cryptocurrencies are often called digital assets, because we can buy, sell, trade them just like traditional assets on the stock market. Why follow the BTC to USD live price chart? ![]()
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