Cryptocurrency, like no other fiat currency, is subject to sharp fluctuations in the rate. The main reason is informational. However, one should not forget about institutional players, large investors, as well as cryptocurrency platforms with an impressive reserve of traditional fiat ones. Actions of such force can radically change not only the price but also change the places of currencies in the rating.
Impact of News
At the time of the news about the world of crypto, it is difficult to determine the truth by ear immediately: whether it is a false alarm provoked by a narrow circle of interested persons to quickly buy up a cheaper currency, or, on the contrary, to wrap existing assets in fiat money at a bargain price. Much excitement is caused by loud statements from governments about a new direction in the development of the digital coin, and vice versa, the cessation of injection into assets.
The Situation on the Exchanges
Organized contests for holders of a specific coin provoke a sharp purchase and, as a result, create artificial popularity, but in a couple of days the prices return and the rate is not attractive again. The reasons for hesitation can be:
- adding a new token to the exchange;
- introduction of staking;
- absorption and vice versa financial injection;
- launch of the token network;
- the activity of professional traders;
- changes concerning demand.
Investors’ willingness to sponsor the promotion of any currency not only increases demand but also value. As a result, the increase in the value of the crypt is proportional to the popularity of the coin as a whole.
How to Follow the Cryptocurrency Rate in Real Time
In addition to the crypto exchanges, which indicate the prices of all currencies presented in the instruments in real time, more complete information is available on all sites specializing in crypto. On them, the rate is adjusted in real time, taking into account the data on transactions on the world’s online exchanges.
All price changes per unit of time are displayed in charts for a clearer perception. A lot of online services have been created where all cryptocurrency markets are covered. As a rule, there are prices for all existing currencies. In addition to the prices, the exchanges on which the coin is quoted are indicated, the trading volumes on completely different platforms.
Cryptocurrencies with a fixed value can be called stable. Such a currency has a higher demand and a wider range of applications. However, at this stage, none of them has such a characteristic. Therefore, more investors prefer Bitcoin as the most expensive of the digital currencies.