Cryptocurrency prices are very volatile and a lot of people depend on them. You can use CoinMarketCap to monitor even the slightest volatility in the prices. Let's talk about how it works.
1. Bitcoin Price
The home page of CoinMarketCap shows the first 100 cryptocurrencies sorted by the largest market cap at the top. You can see the details of each crypto, such as their:
- Market Cap;
- Trading volumes in the past 24 hours;
- Circulating supply;
At the end of the row for each crypto, you will see the change in price in percentage terms over the past 24 hours and a small graph.
You can sort the table any way you like. Just click on the column title to get the information you need.
Charts is a tool everyone should get familiar with. You can use them to analyse the change in the exchange rates over a period of time. Charts can show the prices of coins almost to the day of their inception.
2. Bitcoin Price to Dollar
Next to the "Charts" tab you will be able to see the "Markets" tab which will show the data from the exchanges. This tab will allow you to compare the prices on different exchanges, identify the frontrunners by trading volumes and a percentage of the increase or decrease in price.
The next tabs after "Markets" are called "Social" and "Tools". Social is the tab where you can see the latest Bitcoin news and Tools will provide you with a few useful embeds for your website.
Finally, the last tab, called "Historic Data" will show you past data (duh) about the prices, highs and lows, market cap and trading volumes. You can adjust the timeframe of the data by clicking on the data filter dropdown on the righthand side.
If you want to learn more about a particular crypto then your best place to start would be right under the logo on CoinMarketCap as that place has links to the official website alongside forums, message boards and other resources you can explore to get up to speed with the coin.
If you are into ICOs then you will definitely enjoy the "Tokens" tab on the homepage. You will be greeted with 100 best tokens pre-sorted by their market cap, but as mentioned previously, you can also sort them based on the parameters you want.
The same rules apply to the "Coins" tab. The only difference - a sorting parameter by the coins which are minable and which aren't.
3. Bitcoin Price Today
When you are done with the tables and charts look at the very top of the website. This is where you will be able to see the total number of available cryptocurrencies, trading volumes of all cryptos over the past 24 hours and the Bitcoin dominance. There is also a total market cap of all cryptocurrencies combined.
If you are just starting with cryptos then you might find "Gainers and Losers" to be a useful menu option in the "Trending" tab. The table there will show you the most profitable coins over a specified period of time. For example, at the time of writing this, the #1 gainer is ERC20 which jumped 279.30%.
If you don't want to invest, this is a great tool for you to see how many millions you would've had if you did invest. Very similar to dreaming about the millions you would've had if you bought Bitcoin in 2011.
Another useful tool on CoinMarketCap is the Cryptocurrency Converter Calculator in the "Tools" tab. This calculator will allow you to easily convert crypto into fiat and back based on today's exchange rate.
4. Bitcoin Price Predictions
A very interesting and fun thing in the "Tools" tab is the "Historical Snapshots" menu item. The principle is very simple - you can see the historic price of cryptos from the past. It is updated every month.
This is how the market looked like on 4th August 2013:
CoinMarketCap is an amazing instrument for all the crypto fans. The website will help you stay on top of the news and not miss the dip after which you will buy even more, right?