Crypto or cryptocurrency trading is a turbulent affair. For a start, there are more than 1000 altcoins to trade on the cryptocurrency market. It is a truly vibrant marketplace!
Over the last few years, many ambitious blockchain projects, backed up by some of the most gifted and forward-thinking developers joined the space. But crypto is still a highly speculative market because the technology is new and most of the projects are in very early stages of development. Sadly, there are also a ton of cryptocurrencies on the market which have no real value, the so-called “s**t coins” 🙂 But besides that trading crypto is fun.
Crypto Market Trading vs BTC/USD Trading
The crypto trading market is also heavily influenced by the price of Bitcoin (BTC) and its overall market dominance. And Bitcoin is the most volatile asset in the world! Because of this, the price of cryptocurrencies can fluctuate wildly compared to any other market. Not really for the fainthearted. As a word of caution, some alts have a very small market cap and trading can, therefore, be easily manipulated. If you are a beginner you should stick to altcoins with larger market caps.
Most importantly, most cryptocurrencies are only tradable against Bitcoin (BTC) and not fiat money on the major cryptocurrency exchanges. Although the dollar-begged Tether (USDT) cryptocurrency has been bridging this gap, it has not been without its controversies.
Cryptocurrency Trading Performance
Below you can find a cryptocurrency trading performance chart against Bitcoin (BTC). It is important to note that because most cryptocurrencies are traded against BTC, it is possible that whilst making a profit against BTC you are still losing profit against the US dollar USD, GBP or EUR. Therefore, understanding the BTC/USD trading market before trading any other cryptocurrencies (yes even ETH and LTC) against BTC is quite important.
Cryptocurrency Trading Performance Chart
This chart shows the market performance of cryptocurrencies paired with Bitcoin (BTC). You can see the top cryptocurrency prices against USD on the Cryptocurrency Market Capitalisation Chart. You can also check out the Cryptocurrency Trading Chart.
Disclaimer: This information should not be interpreted as investment or trading advice. Bitcoin and other cryptocurrencies can be extremely volatile and you should always do your due diligence and research on the product, service and legal and regulatory requirements before deciding to invest or trade. We do not take any responsibility for any possible losses you may incur.