How Do You Know If Your Cryptocurrency Is Up?

Thu Dec 17 2020 18:09
Cryptocurrency trading for beginners can be confusing and most trades digital currency without any awareness. Even some of them don't know that they have a growing virtual currency or not. They just spend a few Us-dollars to add virtual coins into their online wallet.

 But they don't know when their currency is up. Because they don't know it, most of the time they fail to earn profit out of their bitcoin wallet or any other cryptocurrency wallet. 

So it is really important to know which digital currencies outperform at what time. There are many sources to figure out the performance of any kind of virtual money. But you must use an authentic and reliable source. If you know the market in a better way, you will get to know when to buy or sell cryptocurrencies

So here we are with a complete guide on how to know if your cryptocurrency is up or going down. We will tell you how you can get updated and the latest bitcoin prices and much more about the cryptocurrency exchange. 

Check & Analyze Cryptocurrency Data: 

You have to do only one thing if you want to know if your cryptocurrency is up or down. You have to check various sources and then analyze the market sentiment of Bitcoin price or any other crypto money you have invested in.  

This decentralized crypto market sometimes becomes hard to analyze for a beginner trader. That is why so many parallel support trading services are provided by a bitcoin exchange these days. 

Now the question is how and from where you can get the information about your cryptocurrency. Following are some common ways to get your cryptocurrencies analyzed.  

Broker Trading Platform Can Help: 

The first option you have is a broker that can help you know about cryptocurrencies a lot. Direct updates from bitcoin mining and much more industry-standard information is available at broker’s websites. 

So if you are going to compare your cryptocurrency price with USD, then must check brokers' websites. Many brokers provide crypto-currency prices without opening a brokerage account. Following are some of the top cryptocurrency brokers. 

#1. Etoro 

Etoro is one of the famous and reliable blockchain trading platforms. Many online wallets are compatible with this platform. They provide in-depth information about many cryptocurrencies. They provide from Bitcoin news to Altcoin, Ethereum, Litecoin, and any other traded currency data.  

#2. SwissQuote 

This platform is also good to get in-depth cryptocurrency price data. From the bitcoin exchange rate to bitcoin core data, everything is available here. This platform is trustworthy because it is in existence even before the Bitcoin foundation.  

#3. IG 

Not only crypto traders but all kinds of financial instrument traders can use this platform to get the latest price indexes.  

#4. XTB 

No matter, the crypto market is not centralized. But cryptocurrency mining and trading are growing rapidly. These currencies with anonymous founders have made it possible for many people to grow financially. Platforms like XTB are just startups, but they provide a high level of information about cryptocurrency markets. 

#5. Dukascopy 

Dukascopy is a platform where you can get any detail about digital money. This platform is also a broker platform where people buy bitcoins after paying money through bank-account transfer or Paypal. 

Real-Time Market Data & Past Performance 

When we are involved in cryptocurrency or particularly the bitcoin economy, we need real-time data. From market data to past performance, everything should be available actively. And some websites provide cryptocurrency real-time data.

 These sites are from some financial institutions, financial regulators, bitcoin miners, and some other market leaders.  

#1. Coin Market Cap 

One of the best marketplace to get details for this currency with anonymity and encryption. This is not an exchange platform for virtual currencies. But it can provide information to analyze quickly. 

#2. Blockchain 

Currency-market website for blockchain technologies. From the market capitalization of a cryptocurrency to current price fluctuations, everything is available here.  

#3. Coin Metrics 

Coin metrics is also a good source of cryptocurrency news as they provide a lot of pivotal data. A centralized exchange might find it useless, but Coin metrics are used by most exchanges of cryptocurrencies.  

#4. Nomics 

Information about virtual cash from Nomics can help you make your crypto trading more profitable. Everything you need to know about crypto, Nomics will provide. From the black market to the bright side of cryptocurrency, get everything. 

#5. Coindesk 

One of the best websites that crypto traders check before they buy-and-sell any crypto-currency. If you are about to withdraw your investments then check some more information on the coin desk. 

Cryptocurrency Exchanges Can Analyze It Better: 

Traders always want to add profits to their bitcoin wallets, or other cryptocurrencies and their online wallets. But due to liquidity and untraceable bitcoin protocol, it becomes hard. But cryptocurrency exchange can help you do this. 

These open-source or private exchange sites have every important information about cryptocurrencies, so must check them. Following are some options available for you.  

#1. Coinbase 

You can trade all coins here, and you can analyze all the aspects here on Coinbase. 

#2. Binance 

Binance is the second most famous platform used to trade cryptocurrencies. Here you can get the best information about your digital currency. 

#3. Coinmama 

Coinmama is also used by many cryptocurrency traders. They don't only use it for trading but also use this site to check market trends. 

#4. Kraken 

Kraken is not that famous but still, it has millions of trades daily. Due to the high volume of trading, you can get more research information here. 

#5. Gemini 

Gemini is a kind of new cryptocurrency exchange platform. But it is also becoming a good source of information for crypto investors. 

Other Sources To Check:  

  • Finance Blogs 
  • Mobile Applications 
  • Social Media 
  • Crypto Forums 

What Makes Cryptocurrency Go Up And Down? 

There can be thousands of factors and even a money laundering, Ponzi scheme, or scam associated with cryptocurrency can affect the prices.  

Factors That Affect the Cryptocurrency: 

Maybe there can be other factors too. But these are the most basic factors. But it is really important to consider them seriously.  
  • Demand & Supply 
  • Market Sentiment 
  • Market News 
  • Scams 
  • Global Market 
  • Technology Updates 

Summary - Check Cryptocurrency Updates 

If you are talking about having a look at your cryptocurrency prices then you can check various websites with real-time data. But when it comes to the crypto price data based on technical analysis, then you must be serious. Many websites and sources are available to check out whether your cryptocurrency is performing well or not. 

Having a look at the prices is not enough to know for any trader. So you must check other sources in which they provide data after technical and fundamental analysis. It will be so helpful to figure out the performance of your cryptocurrency with such sources.  

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