Guys, I have a problem understanding the price fluctuation of a coin on Poloniex and other exchanges.
How is the percentual change calculated?
The difference between cryptomarket and the traditional ones is that the traditional ones have closing prices. However, when it comes to cryptocurrencies the trading goes on 24/7.
Therefore I dont understand what is the base for the price change in %.
Lets say, I buy a coin on Polo that is -20% at that moment, then later I check Polo again and the same coin now is doing -15%.
In that case I have actually made a profit of 5%?
I know it's a dumb and clumsy question but still confuses me since I'm a noob in the cryptoworld and used to the closing price.
Cheers
How is the percentual change calculated?
The difference between cryptomarket and the traditional ones is that the traditional ones have closing prices. However, when it comes to cryptocurrencies the trading goes on 24/7.
Therefore I dont understand what is the base for the price change in %.
Lets say, I buy a coin on Polo that is -20% at that moment, then later I check Polo again and the same coin now is doing -15%.
In that case I have actually made a profit of 5%?
I know it's a dumb and clumsy question but still confuses me since I'm a noob in the cryptoworld and used to the closing price.
Cheers
You that imaginary time line in the pacific? So there is an imaginary time cut off line for the 24 hour that the exchange picks so they can calculate the % everyone is different. Don't worry about it good enough to give you an idea don't nit pick the details.