High Low Volume WazirX: The cryptocurrency trading business is one of the best and fastest growing business these days. Initially, cryptocurrency trading was banned in India. But after the Supreme Court’s order, everyone can trade crypto coins on many exchanges legally. This decision was declared on 26 December 2019 that people can trade, hold, and mine cryptocurrency after 8th April 2020.
Since that time we all are trading cryptocurrency on money exchanges like WazirX, Binance, Coinbase, etc. Here we deal with the high price, low price, and volume. These are the terms popular among traders.
Whenever new person signup with WazirX Exchange, he/she probably confused with the High, Low, and Volume terms shown on the right side of the exchange interface. The main reason behind this is that it changes frequently.
So, through this post I will tell you to about all these terms. If you want to take in depth knowledge of this, then stay tune with our article. Let’s start:
High refers to the highest price of a particular coin. Suppose you are trading in Bitcoin then the highest price of Bitcoin will be considered as high. In the above image, we are seeing the highest price of Bitcoin is 28,84,075 INR.
This price is calculated on the basis of the past 24 hours record. As you all know exchange values continuously change with time. So, this figure will change if the price of a particular coin will surge with time.
Low refers to the lowest price of a coin on a particular exchange. The lowest price is also considered on the basis of the previous 24 hours record. Suppose Bitcoin price starts with 28,00000 and goes up to 3000000. Then the low price is 2800000. Suppose suddenly the price drop to 2750000, then this will be a new low price.
In the above diagram, you can see the low prices of 24,60,848. It clearly states that in the previous 24 hours minimum Bitcoin price was this. Suppose in the next one hour if the price will be 23 lakh then the minimum price will turn up to 23 lakh.
Friends, generally we get confused with this term. Some people say that it is the number of active people who are taking part in trading. But this is not true. Actually, volume depends on the number of coins being traded on the exchange.
Suppose there are two active people on the exchange. Each person buying and selling Bitcoins and other coins on the exchange. Suppose the purchase and sale of 15 Bitcoin on the exchange. Then 15 is the volume of that exchange.
If the number of traders will be increased, but the trading amount will remain the same then the volume will remain the same. But if the number of trading coins will increase or decrease then the volume will increase or decrease.
Actually, volume refers to trading volume and it does not belong to the number of traders. But it gets affected by the number of traders. More number of traders on any exchange will generate more trading.
Bitcoin cryptocurrency is based on blockchain technology. According to blockchain technology number of coins is fixed. The mining speed of any blockchain is also fixed. It can’t be increased or decreased.
So people cannot generate more coins within a fixed time period. Suppose that the number of buyers will increase on any exchange then the demand for Bitcoin will increase. As demand is increasing but supplies Limited price bill goes up.
As you all know give the above explanation total supply of Bitcoin is fixed. When people start selling their Bitcoins the liquidity of coin will increase in the market. This bill case price down situation. This condition is very similar to the stock market price fluctuation.
Yes volume of any coin on any exchange increase with the total active number of traders. More traders will buy more coin. Hence volume of any cryptocurrency coin will increase with the total number of buyers.
High Low Volume Wazirx
High low volume of Wazirx Exchange is calculated on the basis of previous 24 hours trading record. If price will goes up means demand is increasing and when price goes down means people who purchased coins are selling their stocks.