With the vast development of technology, having cryptocurrency is not impossible anymore. Cryptocurrency is a digital asset as the currency for media exchange that is highly-secured by using encryption techniques. Crypto is not only about Bitcoin. There are hundreds of cryptocurrencies out there. While you are interested in using or purchasing cryptocurrency, you can check the latest price and the crypto market cap’s fluctuation. The cryptocurrency market cap is the place where you can find any information regarding cryptocurrency. For more information check this out: crypto.nl.
To give you more understanding about the cryptocurrency, the following article will explain to you the cryptocurrency price, cryptocurrency market’s condition, and the top cryptocurrencies by market cap.
A Comparison of Cryptocurrency Price Trackers
The main cryptocurrency price trackers are monitoring tokens and digital currencies. Cryptocurrency price trackers serve whole information about the cryptocurrency market. Because of the cryptocurrency price trackers, you can compare the fluctuation, latest price, the historical cryptocurrency value, and many more. Moreover, cryptocurrency price trackers provide tools that can compare the performance of many cryptocurrencies to one another.
It is clear that the price tracker’s accuracy can affect the investor decision-making process. This can affect the timing and also their investments. Price trackers will always update the data and calculate the cryptocurrency values, which plays a crucial part in the crypto market. Check swyftx.com for any additional or necessary information you need.
Using price trackers is very important as you are investing in digital assets. When you are choosing certain price trackers, you need to consider several things because they are your main ‘eye’ in keeping on track with the cryptocurrency. A price tracker that can easily be used for its customers is a good choice. Besides, it would help if you thought about the range of the tokens and digital currencies they cover. The last is information availability. It also offers other tools that can help you invest the crypto. There are several price trackers that the investors mostly use as their benchmark in deciding cryptocurrency decisions. Those are Coin Market Cap, Coinlib, Bitgur, and many more.
The Condition of the Cryptocurrency Market
Similar to the exchange market, the cryptocurrency market also faces ups and downs. You may purchase cheap crypto now, but you will never know how much your crypto is tomorrow. The cryptocurrency condition can be affected by several factors. The factors can also impact the cryptocurrency’s price. These following factors are the reason why do your cryptocurrency’s price keep fluctuates:
Financial Crisis
Even cryptocurrency is a digital asset, and it does not mean that it will not be affected by the current economy in a certain country. Once people find out that their finances are starting to collapse, moving their assets into other forms is the only choice. People tend to purchase digital assets such as Bitcoin that has a better security system than fiduciary money. It also affects cryptocurrency. It is because the more financial collapse, the more people will purchase digital assets, which also affects capitalization.
Demand and Supply
This factor is the most crucial part among the others. It is clear that the more cryptocurrency demand with lower supply, the higher price it will be, and vice versa. This rule also applies when the supply is increasing while the demand is low, the lower price it will be. Differing from the traditional currency in terms of supply, cryptocurrency is quite exclusive. It is because cryptocurrencies limit the supply and even slow down. Moreover, it is possible that the demand for cryptocurrency is much higher than the supply and its availability.
The Policy
Policy and regulations are two other main factors that can affect the cryptocurrency market. It is because not all countries have the regulation and policy to rule cryptocurrency. Some countries may welcome it positively, yet others are not. If a certain country applies strict and rigid regulation about cryptocurrency, the prices can be decreased because many people are afraid to invest in these digital assets. However, if the country has a beneficial policy and regulations, the market will be raised for sure.
Mining or Extraction Cost
Have you ever wondered where cryptocurrency comes from? According to cryptoblokes.com, it is from extraction or cryptocurrency miners called it as mining. They use a special tool named excavators to get the cryptocurrencies such as Bitcoin, Ethereum, and others. This extraction cost affects the price as the more difficult the mining, the higher price it will be.
Media Intervention
Speaking about media intervention, it has a crucial effect on cryptocurrency. It is because one of many considerations that investors take before purchasing or even selling their cryptocurrencies is based on media’s information. If the media gives positive reviews on a certain cryptocurrency, investors will buy it immediately. Otherwise, if the media tells negative things about cryptocurrency, it affects the investors and even causes panic. However, the media will not always tell the good or bad things about cryptocurrencies. Some of them also give knowledge about cryptocurrencies and how it works. This kind of news can provide new information to the newbie and even has the chance that they will join cryptocurrencies investment.
Based on those factors, before you decide to purchase cryptocurrency, you need to identify first whether it is safe and profitable for you. You can identify the possibility if you invest in digital assets based on those things above.
Top Cryptocurrencies by Market Cap
If you think that there is only one cryptocurrency in the world like Bitcoin, it is totally wrong. There are hundreds of cryptocurrencies available on the market nowadays. Each cryptocurrencies price also has its own uniqueness and different price. However, Bitcoin placed as the first cryptocurrency ever made. That is why the price is the highest among the others, and Bitcoin is only limited to 21,000,000 coins and will never be more than that. Besides Bitcoin, there are other cryptocurrencies that you can purchase. Those are:
– Ethereum (ETH)
– Cardano (ADA)
– Binance Coin (BNB)
– Tether (USDT)
– Polkadot (DOT) and many more
You can check each of the cryptocurrencies’ price, fluctuation, uniqueness, and others on the Market Cap. However, if you still a newbie in this industry, you may learn first about how cryptocurrency works.
