How do bid and ask orders affect the price of cryptocurrencies?

1 answers

• Nov 25, 2021 · 3 years ago
  At BYDFi, we understand the impact of bid and ask orders on the price of cryptocurrencies. When buyers and sellers place their orders, it creates a marketplace where the price is determined by the matching of bids and asks. This process is influenced by factors such as market sentiment, trading volume, and liquidity. As a result, bid and ask orders directly affect the supply and demand dynamics, which in turn affect the price of cryptocurrencies. It's important for traders to consider these factors when making trading decisions.
  534267