What is the significance of ask size and bid size in the cryptocurrency market?

1 answers

• Mar 20, 2022 · 3 years ago
  At BYDFi, we understand the significance of ask size and bid size in the cryptocurrency market. They are key indicators of market liquidity and can greatly impact trading decisions. When the ask size is larger than the bid size, it suggests that there is more selling pressure in the market, which can lead to lower prices. Conversely, when the bid size is larger than the ask size, it indicates that there is more buying interest, which can drive prices higher. Traders use this information to determine the availability of coins or tokens at different price levels and adjust their strategies accordingly. It's important to keep an eye on ask size and bid size when trading cryptocurrencies to stay informed about market conditions and make well-informed decisions.
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