For example, nearly every cryptocurrency experienced a significant price drop on 12 March 2020. The strength and events of the broader global economy can affect the crypto market as a whole. Some factors are unique to a specific coin while others impact the entire crypto sector.

Factors Influencing Cryptocurrency PricesĪ wide range of different things can have an effect on the price of a cryptocurrency, with varying levels of significance. It continued mostly climbing for the rest of the first quarter and by May was worth over $2 trillion. Crypto prices began rising towards the end of 2020, and in January 2021, the global crypto market cap surpassed $1 trillion for the first time. The most significant rally yet for the cryptocurrency market came in 2021. This was once more followed by a crash with most coins shedding a significant proportion of their value over the subsequent weeks and months. Crypto prices then fell again in 2014.įour years later, at the end of 2017, the global crypto market cap – which represents the total market capitalization of the list of all cryptocurrencies – rose by about 360% from $180 billion at the start of November 2017 to a peak of over $830 billion in January 2018. The first major surge for Bitcoin came at the end of 2013, and most other cryptocurrencies that were around then experienced similar rallies at the same time or slightly later. However, their price histories quickly diverge due to other differences between the coins. Many of the cryptocurrencies that have launched since have been based on Bitcoin’s model and some were even created through hard forks of Bitcoin’s code. Every cryptocurrency has a different price history and analyzing it can inform you about the coin’s past and help you make predictions about its future.īitcoin was the first cryptocurrency and so has the longest price history – stretching all the way back to 2009 when it was worth much less than $0.01. Price History of CryptocurrenciesĬrypto price histories tell you all about the historical value of a digital currency and may be displayed in the form of a chart or a list of past prices.

We’ve compiled everything you need to know in order to understand cryptocurrency prices and the factors which influence them. If you’ve ever wondered about any of these questions then you’ve come to the right place. Why are there so many different cryptocurrencies? Why do they all have different prices? What makes one cryptocurrency more valuable than another? With the list of all cryptocurrencies now spanning thousands of different coins – all with different prices, market caps, circulating supplies, and purposes – it’s easy to feel confused or overwhelmed. It’s been a long time since Bitcoin burst onto the scene in 2008 to revolutionize currency, and in the meantime, many other digital assets have been created.

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