BidAsk

Have you ever wondered how the prices of cryptocurrencies like Bitcoin or Ethereum are determined on exchanges? The answer lies in two fundamental concepts: Bid and Ask. Don't worry, it's not as complicated as it sounds! Let's dive in together.
What Is Bid? 🤔
Imagine you want to sell your Bitcoin. The Bid price is the highest price a buyer is currently willing to pay for your cryptocurrency. So, if you see the Bid price of Bitcoin is $60,000, it means there is someone ready to buy your Bitcoin for $60,000 per coin.