The 24h trading volume refers to the amount a cryptocurrency has been bought and sold on all exchanges within the last 24 hours on the spot market. For instance, if the 24h volume for Ethereum is $15 billion, it means that $15 billion worth of Ether had changed hands across all exchanges in the last 24 hours.
There are two schools of thought in determining the price of Blue Gold.
By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of Blue Gold, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of Blue Gold from a long term perspective.
By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of Blue Gold on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for Blue Gold as well.
HODLers tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for Blue Gold and the cryptocurrency market as a whole.
2. What is the highest price of Blue Gold in history?
Blue Gold achieved the all-time high of $0.00000 in 2021-12-07, and is currently trading at $0.00000.
3. What is the lowest price of Blue Gold in history?
In 2022-06-18, Blue Gold reached the all-time low of $0.00000.
4. Should I buy Blue Gold now?
It is important to remember that Blue Gold, like all other cryptocurrencies, are subject to extreme market conditions, legal policies, project team management and other unpredictable factors. As such, cryptocurrencies fluctuate greatly and it is important to manage your own risk level. Users are advised to do your own research when making investment decisions in the crypto market.