Cryptocurrencies had a great year in 2021. In this period, we have seen the market go from being classified as a billion-dollar economy into a trillion-dollar economy. Aside from that, cryptocurrencies are gaining visibility in the mainstream world with, for example, El Salvador's adoption of Bitcoin as the official digital currency. As a result, investors are looking for the "new Bitcoin" on the market, hoping to find a great alternative in so-called altcoins. Unfortunately, many traders value an altcoin exclusively…
Cryptocurrency is a young market and, as such, very fast-moving. If we exclude the phenomenon of stablecoins, the prices of cryptocurrencies change continuously, with sometimes very high volatility.
Since a volatile investment is, by definition, a risky operation, traders usually look for ways to reduce the possibility of incurring significant money losses. In this context, it is vital to stay up to date with market events, even if this can be complex.
As seen in the past, a single tweet from a person deemed influential can dramatically affect the price of a cryptocurrency. Anticipating these events seems impossible, but, at least, every investor should always try to be informed.
The following sections will provide critical information to help investors stay updated with the crypto news. We remind the reader that the content of this article does not represent financial advice in any way.
The importance of keeping track of crypto markets
One of the most important things that we would like to clarify in this article is the importance of staying up to date with the latest events on the market. Knowing the news or not can make all the difference between a successful investment and one at a loss.
Every investor, especially in the crypto market, must have the ability to react quickly. We understand, however, that the internet suffers from an information overflow in this market. Consequently, finding the right information channel appears to be much more challenging than it may seem.
For this reason, we want to bring some clarity to the topic, indicating the most popular methods for staying in touch with the crypto universe.
How to keep track of the market
There are several ways to keep in touch with the crypto market during the trading day. Among the many alternatives, one of the most popular strategies in the sector is to use the so-called trading bots.
A trading bot consists of an algorithm that analyses the market, providing essential trends.
There are many bots, from those that warn us when a particular coin records a significant price change to those that report major general events on the market.
These bots often communicate with the community through Telegram, a top-rated chat app with investors.
Other popular ways to check the crypto quotes
While bots are an excellent option for keeping in touch with the market, it is understandable that some investors may prefer to use other information channels. For example, many brokers and exchanges allow clients to monitor the market via a detailed news section.
Often these applications can send push notifications to our mobile devices, letting us receive information quickly. There are also social trading platforms where entire investors share ideas and interesting ideas for market strategies.
Relying on a bot, a professional service, or joining a community are just some of the most popular methodologies to stay updated with cryptocurrency news.
The value of information
Never before has the exchange of information in the world economy an aspect of enormous importance. “Data is the new oil” is a new mantra that we sometimes hear from economists and financial pundits.
In the absence of a centralized entity, the cryptocurrency market has proven to be very attentive even to short statements from influential figures in the sector. So what shall we say, for example, of how Elon Musk raised concerns about the environmental impact of Bitcoin? These comments caused a collapse in the price of BTC?
Musk himself, just a few weeks ago, was able to significantly increase the market share of Dogecoin (DOGE) with a simple tweet.
Finding the right opportunities
Many websites report the prices of the leading cryptocurrencies on the market, allowing even unregistered users to find important information. However, interpreting the price movement with precision requires experience and knowledge of the sector, so many portals share the main blockchain news on the market to help readers.
In addition to commenting on the day’s news, many online portals deliver reviews that help discover the leading projects in the blockchain world.
The various beginners’ guides covering many of the essential concepts in this new industry can also be handy.
In this article, we have had the opportunity to explain the importance of always staying connected with the main events of the crypto market. Unfortunately, in the fast-paced pace of modern life, keeping up to date with what’s going on in the token world can be tricky. Luckily, as we saw together, there are ways to make a trader’s life easier.
Whether it is through the use of a bot, a user-friendly app, or reading an excellent website dedicated to this market, it doesn’t matter. What matters is always finding a way to be aware of your investments.