How To Track Cryptocurrency Prices And Market Trends?

Investments give you the most returns when you’re proactive. This means you need to be vigilant about price and trend changes to know when you must invest and when to sell off your investments. 

Now, when it comes to the crypto investment world, a crypto price tracker becomes one of the most integral parts of your planning. A crypto price tracker is not just a display of price ups and downs. Rather, it is a holistic account of everything that’s going on in the crypto world. 

Cryptocurrency is a digital asset. Hence, it has no physical presence. The only relevance it has for investors lies in its price. A crypto price chart is the only canvas that reflects any impact on these assets. 

A crypto price tracker is also a representation of crypto’s correlation with traditional markets. Hence, using these charts, you can make informed investment strategies. It helps you track trading volumes to indicate liquidity for effective trading. 

Hence, in this guide, we’ll talk all about cryptocurrency price monitoring and the tools and platforms to determine the changes and trends to make the right investment decisions. 

Steps For Successful Cryptocurrency Price & Trend Monitoring 

Pick A Price Tracking Platform 

With crypto being one of the most volatile assets, tracking its changes in regard to price or market trend is not something one can do without the help of a machine. Hence, the market introduced several tools that help you track real-time crypto prices for technical analysis and portfolio management. 

(i) CoinMarketCap  

This tool lists nearly 9,000 cryptocurrencies with real-time prices, market caps, and historical data. It is the most ideal tool if you have invested in the top cryptocurrencies such as BTC, ETH, etc. 

(ii) CoinGecko 

With CoinGecko, you can get a comprehensive overview of the crypto market. It doesn’t just record cryptocurrencies but includes all digital assets, such as NFTs, tokens, and others. It contains tracking and educational materials that help you find and make a detailed analysis for every investment. 

(iii) TradingView 

TradingView is a popular tool that lets you take a deep dive into the crypto price tracker. Their overviews, charts and technical indicators make up crypto analysis for many exchange platforms. Moreover, with this tool, you can create watchlists and get email notifications about price changes. 

(iv) Binance 

Binance is the biggest cryptocurrency exchange, and we believe anyone who’s interested in crypto has come across this name several times. This tool lists over 600 alternative cryptocurrencies along with Bitcoin. Even though Binance records fewer options on its US website, it is one of the top tools for live crypto price updates.  

(v) Coin Ranking 

Coinranking provides important stats about cryptocurrencies, including price charts, performance tables, and 24-hour changes. It also lets you check out the main marketplaces and exchanges for your favorite coins, along with their trading volumes. 

Set Up Price Alerts 

Crypto price alerts help you spot buying or selling opportunities in the market. When you set up these price alerts, you free yourself from the hassle of checking your screen and getting anxious about changes all the time. 

This notification system also helps investors to differentiate between hoaxes and real developments in the market. When you over-occupy your mind to track price or trend changes in the market, even insignificant changes start to look like a massive disruption, leading you to make wrong decisions. 
With the right tools by your side, you can set alerts for several cryptocurrencies at once on different platforms. Moreover, they allow you to choose if you want immediate alerts or regular updates, like daily summaries.  

For the most reliable price alert systems, we believe platforms like the Cryptoradar can really help you. It lets you set alerts and receive updates at specific times, like every morning, and you always stay in the loop. 

Use Indicators To Analyze The Market 

Analyzing market trends is a process of combining and correlating different indicators and their influence in the market. Now, for cryptocurrency, there are three major methods: 

(i) Fundamental Analysis 

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Fundamental analysis of a cryptocurrency means looking at more than just its price. You check things like the team behind the project, the technology, its purpose, partnerships, and how much support it has from the community. The aim here is to use crypto market analysis tools to identify projects that have great potential but are currently undervalued in the market. 

(ii) Technical Analysis 

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Technical analysis, or “TA,” is about looking at past price charts and guessing where the prices might go next. Indicators such as moving averages and the Relative Strength Index (RSI) help you spot these upcoming trends, the potential price changes and the best times to buy or sell.  

(iii) On-Chain Analysis 

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On-chain analysis is when you examine public data on the blockchain, which is a key part of trading in cryptocurrencies. You can use this analysis to predict market trends and understand how different players, like miners, institutional investors, and retail traders, are buying and selling. By looking at factors like wallet balances, how long coins are held, and the volume of transactions, you can gain insights into market behavior. 

For this analysis, you can use price tracking platforms like CoinMarketCap and TradingView and machine learning models like ARIMA to forecast trends.  

Moreover, as a crypto investor, you must also pay equal attention to sentiment analysis through social media and news sources. This helps you gauge market sentiment and understand factors influencing price movements.  

Identify The Market Cycles 

A market cycle describes the ups and downs of a market. It tells you how emotions influence price changes over time.  

Market cycle identification is not exclusive to crypto but is one very important factor in this market. These are cycles that keep repeating due to the repetitive nature of the financial world.  

But when it comes to cryptocurrency, there is no fixed market cycle. There’s no one rule that dictates the entire digital asset world; rather, each asset comes with its unique market cycle. Their intrinsic differences and mechanisms often make it difficult for investors to find a broad rule to define their market cycle.  

But for your understanding, let us take a look at the Bitcoin market cycle since it is one of the longest-standing cryptocurrencies in the market: 

We begin with the Bitcoin halving event that happens roughly every four years. During this event, the reward for mining Bitcoin is cut in half after every 210,000 blocks. It often leads to big price increases followed by corrections as the market adjusts.  

With fewer new Bitcoins being created, demand also tends to rise. Thus, in bear markets, when people hold onto their coins, it gives rise to a full-fledged bull market. 

If we analyze the Bitcoin market cycle, the last halving occurred only recently on April 19, 2024. It lowered the block reward to 3.125 BTC.  

According to Bitcoin’s monetary policy, there can be a total of 32 halvings, of which three have already taken place since its inception. So now we are left with another 29 halving events that can continue for another 116 years, making 2140 the last halving year. 

Track The Performance Of Your Crypto Portfolio 

Checking your portfolio is where your analysis takes a more personal turn. This is where you get to know your own position as you’ve distributed your wealth among different digital assets.  

As we know, with cryptocurrency, there’s a tool for everything. Even portfolio tracking! These tools are equipped with automatic dashboards to simplify and facilitate your analysis. 

With these tools, you can see how your portfolio is doing on a daily basis and also compare that performance with major cryptocurrencies like Bitcoin, Solana, and Ethereum. Thus, you can spread your investments more wisely across different asset classes.  

Moreover, you can check your portfolio’s value in different currencies, like Bitcoin, dollars, or euros, to have a full picture of your standing at every point. 

These tools break down your funds by token and platform, along with trends over the past 24 hours and 7 days to help you understand how your investments are doing and changing. You can also enable real-time tracking so that you can always see the total value of your crypto assets. 

Make Informed Decisions 

Vigilance, as we already mentioned, is all you need with cryptocurrency prices and trends to make your investment decision a success. This is a market that fluctuates and behaves in the most fragile manner due to its unfamiliarity among investors.  

But you cannot give in to the fluctuations and fragility. Your stability lies in your clear perception and investment goals. Now, investment goals are majorly fixed for you, but the perspective part is where you keep working. 

Hence, you need to accustom your eyes and mind to the crypto price tracker, where, with constant practice, you can train yourself to identify discrepancies.  

Lastly, stay updated with news and articles on our channel and make prompt decisions to safeguard your digital wealth.