There are hundreds of crypto assets on the market, each with a different purpose and value. Three indicators of cryptocurrency valuation:
- Price of cryptocurrencies
- Transaction volume
- Market cap crypto.
Look at any cryptocurrency market ranking, and you will see a list of assets and data about them.
Cryptocurrency prices change very frequently and offer traders and investors many profit opportunities. Bitcoin cryptocurrency is the leading asset in terms of price, market cap and trade volume.
What Does Cryptocurrency Bitcoin Price Depend on?
First of all, as in any market, supply and demand play an important role. In addition, prices depend on the popularity of an asset and the number of people who want to own it. Secondly, market trends and investor sentiment influence the price of cryptocurrencies. There are two trends in the cryptocurrency market: upward (bullish) and downward (bearish).
Of course, the general economic situation, inflation and the crisis also affect cryptocurrency prices, for when people have no money for investment, the crypto market moves downward. The same applies to local regulations for cryptocurrencies in some countries around the world.
BTC has the highest market capitalisation. This is a measure of the value of all existing coins and is calculated by multiplying the current cryptocurrency bitcoin price by the number of coins in circulation.
The daily trading volume shows how many cryptocurrencies have been traded in the last 24 hours. As of November 2022, these indicators for BTC look as follows:
- cryptocurrency Bitcoin price – $20,25;
- market cap crypto – $388,88 billion;
- trade volume for the last 24 hours – $59,42 billion.
Top assets by cryptocurrency price, trading volume and market capitalisation:
How is Cryptocurrency Price Prediction Made?
To make a forecast for the future price of BTC, investors analyze its price charts and find historical indicators and patterns. They do research on the technical side of the project as well as analyze external factors that may affect the Bitcoin cryptocurrency rate: inflation, crisis, the world’s economy, etc. Once they gather enough information and data, they calculate the possible future price of BTC.
Some resources conclude that the cryptocurrency Bitcoin price will reach $70.000 in 2023, and the lowest mark will be 65.000.