If you are into crypto trading, you definitely know how volatile crypto prices are. They change daily and fluctuate up and down, which enables profitable cryptocurrency exchange transactions when traders buy and sell coins at different rates.
In this article, we will take a closer look at crypto prices and see what they depend on.
The crypto market price is determined by the balance between buyers and sellers in cryptocurrency markets, including those for Bitcoin, Ethereum, and other digital assets.
Cryptocurrencies’ prices are derived from a variety of elements, such as:
- Market demand and supply
- News and events
- Investor sentiment
- Adoption and use cases
- Technological developments.
What is the Meaning of Historical Crypto Prices, and Why Checking Them is Important?
By tracking the past prices of select cryptocurrencies, such as Bitcoin and Ethereum, we can gain a deeper insight into significant movements in the crypto market. Through an analysis of these historical crypto prices, trends, and patterns emerge that may serve to inform future decisions.
The importance of crypto prices from past market cycles cannot be understated. By scrutinizing historical data, investors can glean trends and patterns to help them decide when the optimal time is to buy or sell digital currencies. With this knowledge in hand, traders can make smart decisions as they navigate through the ever-evolving cryptocurrency landscape.
ATH stands for “All-Time High” and is a term used to describe the peak in price that any given cryptocurrency has experienced since its creation. It’s an indication of how desirable or valuable investors perceive the currency in comparison to previous times.
For example, if the highest peak of Bitcoin was around $66,000 then any figure above that mark would be a new record-breaking all-time high for it. Conversely, when its value dips below this level there is a dip in price.
Investors and traders should pay close attention to a cryptocurrency’s ATH as it serves as an indicator of potential value growth. If the trading price of a particular coin is close, or even near its all-time high – this could be interpreted that market sentiment around it is positive, which can translate into greater gains in the future. However, if the currency trades far below its peak, then there may be cause for concern where investors become more hesitant with investing money into it.
You can keep track of and check crypto prices on the WhiteBIT platform.