Are you looking for the most accurate crypto live prices monitoring platform? See how to use Coin Socal Story to monitor cryptocurrency prices, and find out what drives the cost of cryptos.
When you are a cryptocurrency trader, you have to know the real-time crypto live prices. But even onlookers and people who are just enthusiastic about Bitcoin or other currencies don’t want to miss out, especially on a Bitcoin or Ethereum roller coaster ride ever again.
But where do you see cryptocurrency live prices? Go to coinsocialstory.com and enter the name of the coin for which you want to check live prices in the search bar. Click on it and toggle the metrics you want to see.
CoinSocialStory shows you the live prices and predictions for all the cryptos. Available on all browsers and operating systems, CSS is a free real-time crypto price charts platform that also offers infographics and graphs to help you make prudent trading decisions.
Cryptocurrency does not work the same way as fiat money. The Cryptos are not influenced by the decisions of any Central Bank or treasury. Trading cryptos is also different from the stocks or bond market because Bitcoin is not a company. So, the forces that drive the price of a crypto coin are quite different from those of shares or ordinary money.
The process of determining the value of crypto is different from fiat.
The inflation rates, economic growth measurements, and government monetary interjections that determine the price of stocks do not apply to cryptocurrencies.
Instead, the following factors influence the price of Bitcoin:
The state can regulate the circulation of its currency by adjusting the reserve requirements, discount rates, and engaging open market strategies. The treasury or Central Bank can make direct decisions about the value of a currency.
However, the price of Bitcoin changes typically depending on the market forces. Cryptos increase in the market at a fixed rate through a mining process. Therefore, the rate of production of new cryptocurrencies slows down over time. For instance, the price rise of Bitcoin in the market was at 6.9% in 2016, 4.4% in 2017, and 4.0% in 2018.
The value of a crypto coin depends on the cost of mining cryptocurrency. After miners hit the 21 million Bitcoins mark, no more Bitcoins will come to the market through mining. So the price of BTC continues to increase because the supply decreases over time. This is quite the opposite of ordinary fiat currency, whose value decreases by the day.
Hundreds of tokens and cryptocurrencies compete with Bitcoin and Ether. So, people who want to invest in crypto and the blockchain may decide to use Ethereum instead of Dogecoin or Bitcoin over altcoins. The price of any of these currencies depends on how well they compete with the others.
Cryptocurrencies are virtual, but mining them is quite physical. For example, the Bitcoin mining process consumes a lot of electricity. Therefore, the amount of power used in the mining process directly influences the price.
The value of a crypto coin depends on the cost of mining cryptocurrency:
If stock is not available on the NYSE or other exchanges, nobody might even get to trade it in the first place. And in the same way, a cryptocurrency needs to be available on different currency exchanges. Popular currencies tend to be more valuable than the new altcoins.
What influential personalities or organizations people say about a coin is directly proportional to the value of a cryptocurrency. So, for instance, when Elon Musk started showering praise to Dogecoin, many people flocked to exchanges to buy it, and consequently its price.
The coin community does system and blockchain updates after a fair consensus. Any system update directly influences the value and stability of a coin. Transaction speeds, costs, and block creation are other factors that drive the value of crypto coins.
The demand and supply of a coin directly drive its prices. Also, a coin’s availability and popularity fuel crypto prices.
The price of cryptocurrency rises and falls depending on market forces. Positive press gives buyers the confidence to increase the demand, and, therefore, the price rises. On the other hand, too much media coverage, speculation, and negative press end up instilling fear in buyers and thus ruins the price of a cryptocurrency.
The price of cryptocurrencies is sensitive to market forces, and any negative vibe thrown towards a coin may result in a drop in its price. For instance, China’s crackdown on the trading and mining of cryptocurrencies and Tesla’s move to quit accepting bitcoin in 2021 caused a sharp fall in the price of cryptos.
The best cryptocurrency price monitoring platforms show the real-time value of BTC, ETH, and other coins. In addition, such platforms have all information about the trading volume market capitalization price chart and comparisons for different currencies.
However, the accuracy of a monitor will have a significant effect on an investor’s decisions. So, you’ve got to choose your cryptocurrency live prices tracker wisely.
CoinSocialStory ranks among the market’s most accurate and popular crypto price monitors. The platform tracks the prices of different cryptocurrencies and provides detailed info about their value and potential.
So the platform has lots of graphs, infographics, charts, and other data that are constantly updated to give you reliable data and help you make wise trading decisions.
CoinSocialStory predicts the price of cryptocurrencies to an accuracy of over 95%. The team at Coin Social Story uses advanced algorithms and statistical data to predict the future price of a coin accurately.
Track all cryptocurrency prices on coinsocialstory.com and find charts for the top 100 cryptocurrencies.
Watch the real-time fluctuations of crypto coins at CoinSocialStory. The website has all charts, infographics, and predictions for the prices of all cryptocurrencies on the blockchain.
The value of crypto assets is remarkably volatile, and your only hope is to follow real-time market trends. Reliable price monitors are not only accurate but also give you different metrics to choose from. For example, you want to know how many social media mentions each of the cryptocurrencies has or the news surrounding a coin before you buy it.
Coin Social Story is where to see cryptocurrency live prices. The website shows you several metrics to monitor BTC, ETH, and DOGE, among other cryptocurrencies. In addition, the site receives instant updates and gives you accurate infographics, analytics, and comparison charts.
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