Over the past few years, cryptocurrency trading has seen rapid growth. It is still one of the most difficult financial investments because it is susceptible to market fluctuations. Despite market uncertainty, it attracts new investors even if they have no formal education or training. Crypto analysis tools are here to help.
Continue reading to learn everything you need to know about crypto analysis tools and the best tools for crypto analysis.
Crypto Analysis Tools
It is risky to invest in cryptocurrency, regardless of the conditions. This is especially true if your knowledge of the crypto market and how to properly assess it is limited. However, with the best crypto analysis tools, you can still get the information you need to make an informed investment decision.
Why do You Need Crypto Analysis Tools?
Here are the reasons you would need Crypto Analysis Tools:
You can use the supported technical indicators available in analysis tools to make your charts more readable.
Access to graphs of all on-chain data will be available, including daily transactions, exchanged coins, and other details. Everyone can access the data on the blockchain. This means that the information you receive is accurate and transparent.
With more than ten years of data, you can access a variety of metrics such as market value, volatility, and market share. You will also be able to gain a broad understanding of the market’s movements by having so many indicators in one place.
Social media is a key factor in market dynamics. It could also directly affect the market. The social analysis allows you to keep up-to-date on market trends. You can view many metrics and data including social power, social trends, and popular terms.
Also read: Top 10 Biggest Social Money Cryptocurrencies
7 Best Crypto Analysis Tools
Even if you are a beginner or have been investing in cryptocurrencies for a while, you can use crypto analysis tools to lower your risk and increase your chances of staying ahead of the curve.
These are the top 7 crypto analysis tools that you can use before investing in cryptocurrency.
Best Feature: Cryptocurrency exchange wallet and analysis tool for cryptoanalysis
Coinigy is one of the best crypto analysis tools that allow you to combine all your exchange accounts into one interface using the API keys from all the exchanges. Charts are available on more than 45 cryptocurrency trading platforms. Trade on multiple exchanges and receive SMS notifications to your phone.
Coinigy is a multi-exchange trading tool that creates one view of all the major Bitcoin exchanges. It is visually appealing and easy to understand.
Price: Starter account free, ProTrader $18.66/month, and Professional API Access $99.99/month
Best Feature: The best tool to analyze cryptocurrency news and provide the most current information
Are you interested in the latest news from the cryptocurrency market? You can subscribe to CoinMarketCal and stay up-to-date with the latest news and events.
CoinMarketCal is the most reliable economic calendar for cryptocurrency news. It includes all the developments that can help cryptocurrency traders make informed decisions. The community drives this social media network. This social media network is driven by the community. Users can comment on crypto events or provide news that’s supported by research.
After user input, the news is then reviewed by other users. False news is given lower ratings while correct news is higher. Click the links to go to the right website. This will allow users to find the information they are looking for about a particular event or coin.
3. Coin Metrics
Best Feature: This is the best crypto analysis tool and measures data streams, and indexes, and creates tools that can be used to visualize markets
Coin Metrics was established in 2017 and is one of the most popular on-chain and offline crypto analysis tools. It helps investors, analysts, researchers, and other market participants understand the cryptocurrency market behavior. Coin Metrics provides metrics, data streams, and indexes as well as tools for market visualization. To get an idea of market mood, users can also monitor Twitter feeds.
The program supports over 100 crypto assets. You can also subscribe to their weekly newsletter for in-depth research on the cryptocurrency market.
Best Feature: Best cryptocurrency analysis and portfolio manager tool
CryptoView allows you to keep track of all your cryptocurrency holdings across multiple cold storage locations, crypto exchange platforms, and third-party wallets. This comprehensive trading platform provides real-time data, simplifies trading strategies, and allows users to manage multiple trading accounts across different trading platforms.
CryptoView users can manage multiple portfolios from one interface. Users can monitor and evaluate the performance of bitcoin by analyzing quantitative data and transaction history from multiple exchanges. They can also track trade activity using a user interface.
CryptoView has many features. You can create screen layouts and 85 technical indicators. There are also more than 75 drawing tools. Customers can sign up for email or SMS alerts to receive updates and news about the latest cryptocurrency news and events.
Price: A CryptoView one-month trial is available. Subscribers who sign up for the 1-year plan get a 30% discount on the subscription rates. These range from $13 to $19 per month.
Best Feature: Crypto analysis, and charting tool
Cryptowatch is one of the most undervalued crypto analysis tools. Kraken has a very sophisticated charting tool called Cryptowatch that allows traders live-streaming access to data from over 800 exchanges, including volume, price, and order books. Cryptowatch is an excellent addition to any trading toolkit, despite the scary dashboard that you will see the first time you visit the site.
CryptoWatch provides a variety of overlays and technical analysis indicators to assist you in making decisions. You can also see real-time exchange data. Kraken is constantly updating the website to include more features, despite not having as many options for sketching and indicators as other charting tools.
Price: A $15 per month premium edition is also available. Individuals can try the app for free for two weeks before purchasing the premium edition.
Also read: Top 10 Crypto Research Tools
Best Feature: Best crypto analysis tool to manage and keep track of crypto assets
Glassnode is a source for blockchain data and analytics that creates cutting-edge solutions and measurements on-chain. This web app is built on APIs and may provide market information.
Glassnode provides investors with relevant statistics about analytics, cryptocurrency transaction data, miner data, profit, loss, wallet holdings, as well as other insights. The tool can be used to view market information, complete transactions, information on coin prices, and active addresses.
This software lets users get market data and alerts.
Price: Every day, the basic plan is updated. Depending on which features you choose, premium versions can be purchased for between $29 and $799 per month. These versions have additional indicators and are frequently updated.
Best Feature: This is the best crypto analysis tool. It provides everything you need in one place.
TradingView is the most popular crypto charting and technical analysis software for traders in all markets. TradingView has been hard at work in recent years to link its toolkit with some of the most popular bitcoin exchanges. The results are amazing.
TradingView allows users to monitor the market and obtain information from all cryptocurrency exchanges, including Bitfinex and Binance. The program allows you to log in to multiple crypto exchanges to compare their real price graphs.
TradingView’s community-based network is one advantage. TradingView has a strong social network. You can post your ideas and learn from other traders on the forum.
Access to their online charting tools is available for both free and paid customers.
Price Most traders should be able to start and learn the basics of technical analysis using a free account. Free users still have access to the same premium tools, but only three technical overlays or indicators are allowed per chart.
Conclusion — Top Crypto Analysis Tools
There are many great crypto analysis tools available for traders and investors, and the best ones depend on individual needs and preferences. Some popular options include TradingView, Coinigy, Glassnode, CryptoWat.ch, Coin Metrics, and CryptoView. These tools offer features such as real-time market data, technical analysis tools, portfolio tracking, and more. It’s important to do your own research and find the tool that best suits your trading style and goals.