What Cryptocurrency Rates Depend On?

Cryptocurrency Rates Depend On

The attractiveness of the crypto market is driven by the high volatility of assets’ rates. It allows for numerous earning opportunities for investors and traders who make a profit on cryptocurrency rates changes. 

There are several working trading strategies that allow getting profits from cryptocurrency values volatility:

  • Scalping
  • Intraday trading
  • Swing trading
  • Arbitrage
  • Position trading.

They differ by the frequency of placing orders and the number of platforms used. For instance, the arbitrage strategy allows trading on several exchanges simultaneously, taking profits from the difference in cryptocurrency values on different crypto platforms.

Aspects impacting cryptocurrency price:

  • first of all, the essence of the project and its usefulness;
  • competition;
  • supply/demand;
  • the power and complexity of receiving one coin;
  • investors sentiment;
  • overall market trend.

Thus, we can see how cryptocurrency rates change, and the bullish trend is replaced by bearish market moods. 

However, there are crypto assets that are not subject to volatility, and the above-mentioned factors do not affect them. 

Stablecoins

From the name “stablecoin”, it becomes clear that the asset price is steady. That is, it does not change under market fluctuations and other aspects. Stablecoins are digital assets connected to fiat currency, for example, a US dollar. 

Tether (USDT) and Binance USD (BUSD) are the most widespread stablecoins. They are not assets for investment because their price will not grow. However, they are massively used by investors to hedge risks. When huge market fluctuations occur, traders convert their savings into USDT or BUSD, etc., to maintain the treasury of their investments.

All crypto exchanges offer a cryptocurrency calculator where you can calculate and convert your crypto assets into USDT and then move funds to your bank card; the same goes in the reverse direction. Try to use the WhiteBIT cryptocurrency exchange for that purpose.

Follow – https://techhipo.com for More Updates

Strømlining af Premium Kundeservice
Business

Strømlining af Premium Kundeservice

I den foranderlige verden af ​​digital forretning er levering af førsteklasses kundeservice en vigtig differentieringsfaktor, der kan adskille din virksomhed fra konkurrenterne. Enestående kundeservice opbygger ikke kun tillid og loyalitet, men bidrager også til din virksomheds langsigtede succes. I denne artikel vil vi udforske fem vigtige tips til at levere førsteklasses kundeservice. 1. Klar kommunikation […]

Read More
Prefab Metal Building
Business Technology

7 Ways to Use Prefab Metal Building in Agriculture

Are you wondering about installing an agricultural metal building on your farm? Hop on; we’ll clear your dilemma and give you practical and authentic reasons why you need metal building in agriculture on your farm. The prefab metal buildings have recently excelled in the agricultural industry by being a valuable resource to farmers. Their extensive […]

Read More
Secrets of Successful Naming
Business

Secrets of Successful Naming

Choosing the right name for a product, business, or even an individual can have a profound impact on its success and identity. A well-crafted name can resonate with your target audience, create a strong first impression, and even contribute to brand recognition and recall. In this article, we will delve into the secrets of successful […]

Read More