The crypto industry is developing at a rapid pace even despite the overall downward trend. Those who know that this industry is promising start to invest already now, for the best idea of successful investments is to enter the market when the crypto coin price is low and receive income when the market turns upward, and prices grow.
Why do crypto rates change rapidly, and where to track their movement? Let’s talk about it in this article.
What Determines Crypto Coin Price?
Here are some aspects of building crypto rates:
- Demand and supply balance. When investors start selling their coins massively, demand decreases, pulling the price down.
- News background also affects investors’ mood and, therefore, crypto rates.
- The situation in the global economy, people’s ability and willingness to invest money.
- The emission of some precise coins. If the emission is unlimited, it badly affects demand, therefore, prices.
Where to Track Crypto Rates?
To succeed in trading, you should always monitor crypto coin price and be ready for action at any moment, mainly if you use an intraday trading strategy. To get up-to-date crypto rates, you may use the Coinmarketcap resource or any large cryptocurrency exchange, for example, WhiteBIT. It offers convenient crypto charts for tracking crypto rates, setting different timeframes, trading bots, leverage, over 400 crypto pairs, and all possible tools for successful trading. On WhiteBIT, you can buy crypto with fiat money and convert your crypto coins to dollars, euros, and pounds, and move them to your bank cards in a matter of minutes. It is a pretty convenient and reliable platform millions of users worldwide appreciate and actively use daily.
To learn more about WhiteBIT’s benefits, go to its blog and look for the information in its blocks. Pay attention at the WBT token that was released in the summer of 2022 and brings so many benefits to its holders.