Bid Price

The bid price in the context of cryptocurrency trading refers to the highest price that a buyer is willing to pay for a specific digital asset, such as Bitcoin (BTC). It represents the maximum amount a trader or investor is prepared to spend to acquire the cryptocurrency at a given moment.

The bid price is crucial in determining the price at which a trade can be executed, as it must match or exceed the ask price (the lowest price a seller is willing to accept) for a transaction to occur. Bid prices are typically displayed in the order book of a cryptocurrency exchange, along with the corresponding ask prices and trading volumes. By analyzing the bid prices, traders can gauge the demand for a particular cryptocurrency and make informed decisions about their buying strategies.

More Terms:
Start using Plena App now!

Get the Plena Super App, and start investing in 100,000+ cryptocurrencies starting with just $1