A cryptocurrency is a digital currency based on blockchain technology. There is no central authority to access the information. Cryptocurrency prices are the rate the different coins attain in the market. There is a frequent change in these rates depending on several factors. Articles depicting these changes will come under this tag.
Cryptocurrency prices movements
A non-exhaustive list of factors influences the change in prices of digital currencies.
- Supply and demand: The price is driven by availability, which is directly related to demand. Demand further depends on the investors.
- Mining difficulty: The mining process is in direct relation with the price.
- Utility: The key factor resulting in the varied prices is the perceived utility of the currency.
- Market news: Positive or negative news can have a substantial effect on the pricing.
