Guys, I have a problem understanding the price fluctuation of a coin on Poloniex and other exchanges.
How is the percentual change calculated?
The difference between cryptomarket and the traditional ones is that the traditional ones have closing prices. However, when it comes to cryptocurrencies the trading goes on 24/7.
Therefore I dont understand what is the base for the price change in %.
Lets say, I buy a coin on Polo that is -20% at that moment, then later I check Polo again and the same coin now is doing -15%.
In that case I have actually made a profit of 5%?
I know it's a dumb and clumsy question but still confuses me since I'm a noob in the cryptoworld and used to the closing price.
Cheers