Dorkylickjj (OP)
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February 28, 2024, 04:14:03 PM |
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Hello So, for a bit, I thought of sharing my knowledge here (even if I'm new here) so as to carry the beginners along. This might come in handy for most of us. So, I'll be going down to the very BASIC. What's cryptocurrency? It's a decentralized encrypted exchange unit. Right. It's transactions are visible through a decentralized ledger (Blockchain) How can you tell which cryptocurrency will go up ? Truth is, there's no clear cut out way. But there are laws that if followed, you can make predictions. Good ones. The law of demand and supply can help you understand how the prices of crypto changes. Demand: The higher the demand, the higher the price. Quite simple, crypto platforms releasing better utilities to attract users leads to value rise. Supply: The more the units of crypto, the less valuable they are in units. If a cryptocurrency is readily available in bulk to the public, the value drops. Scarcity is value😅 Look at it this way; bywhen supply grows faster than demand, the currency falls, and when demand grows faster than supply the value appreciates. So, I'll talk later on about ways to make predictions on cryptocurrency rise. Apply the rules and make accurate predictions.
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apogio
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February 28, 2024, 04:28:15 PM |
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So, I'll talk later on about ways to make predictions on cryptocurrency rise. Apply the rules and make accurate predictions.
Most of the time in this forum, this is not necessary. But of course you are free to participate in such conversations here: https://bitcointalk.org/index.php?board=224.0Since all the ways to predict future value of an asset are speculative by nature, please make sure to post in the board I have sent above. Finally, predicting future prices won't give you any additional reputation. To be respected in the forum, you need to help people and construct good answers.
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teamsherry
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February 28, 2024, 05:13:29 PM |
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Hello So, for a bit, I thought of sharing my knowledge here (even if I'm new here) so as to carry the beginners along. This might come in handy for most of us. So, I'll be going down to the very BASIC. What's cryptocurrency? It's a decentralized encrypted exchange unit. Right. It's transactions are visible through a decentralized ledger (Blockchain) How can you tell which cryptocurrency will go up ? Truth is, there's no clear cut out way. But there are laws that if followed, you can make predictions. Good ones. The law of demand and supply can help you understand how the prices of crypto changes. Demand: The higher the demand, the higher the price. Quite simple, crypto platforms releasing better utilities to attract users leads to value rise. Supply: The more the units of crypto, the less valuable they are in units. If a cryptocurrency is readily available in bulk to the public, the value drops. Scarcity is value😅 Look at it this way; bywhen supply grows faster than demand, the currency falls, and when demand grows faster than supply the value appreciates. So, I'll talk later on about ways to make predictions on cryptocurrency rise. Apply the rules and make accurate predictions.
This is all basic knowledge and good your referring to newbies, I think you should go around and see other quality post on the board and see how they are constructed, you have a good idea and I think if you don't improve on your post you won't make any progress here, and I think it's better you ask questions about the forum unless you must have done that already, It's good to be enthusiastic and try your best to give your best. Good luck
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un_rank
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February 28, 2024, 06:18:57 PM |
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What's cryptocurrency? It's a decentralized encrypted exchange unit. Most cryptocurrencies are not decentralized and certainly not encrypted (Bitcoin isn't encrypted either). Demand and supply is a primary factor, there are so many other secondary factors that affects it leading to a change in price, understanding of these allows you make a calculated guess, how exactly the market will react in different scenarios cannot be predicted. - Jay -
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killat
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February 28, 2024, 06:48:51 PM |
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Hello So, for a bit, I thought of sharing my knowledge here (even if I'm new here) so as to carry the beginners along. This might come in handy for most of us. So, I'll be going down to the very BASIC. What's cryptocurrency? It's a decentralized encrypted exchange unit. Right. It's transactions are visible through a decentralized ledger (Blockchain) How can you tell which cryptocurrency will go up ? Truth is, there's no clear cut out way. But there are laws that if followed, you can make predictions. Good ones. The law of demand and supply can help you understand how the prices of crypto changes. Demand: The higher the demand, the higher the price. Quite simple, crypto platforms releasing better utilities to attract users leads to value rise. Supply: The more the units of crypto, the less valuable they are in units. If a cryptocurrency is readily available in bulk to the public, the value drops. Scarcity is value😅 Look at it this way; bywhen supply grows faster than demand, the currency falls, and when demand grows faster than supply the value appreciates. So, I'll talk later on about ways to make predictions on cryptocurrency rise. Apply the rules and make accurate predictions.
Cryptocurrencies gain value through a complex interplay of various factors, encompassing both intrinsic and extrinsic elements. Firstly, the scarcity mechanism embedded in many cryptocurrencies, such as Bitcoin's capped supply of 21 million coins, mirrors the scarcity dynamics of precious metals like gold, thus imbuing them with intrinsic value. This fixed supply, coupled with increasing demand driven by factors like adoption, technological advancements, regulatory developments, and geopolitical uncertainties, can lead to appreciation in value over time. Moreover, network effects play a pivotal role, as the utility and adoption of a cryptocurrency increase with the size of its network. As more individuals and institutions utilize a cryptocurrency for transactions, investments, or as a store of value, its network effect strengthens, fostering greater trust and liquidity, consequently bolstering its value proposition. Additionally, market sentiment, influenced by factors ranging from media coverage, investor speculation, and macroeconomic trends, can significantly impact cryptocurrency prices in the short term. Furthermore, technological innovations and improvements in the underlying blockchain technology, such as scalability solutions or enhanced security measures, can enhance the utility and desirability of a cryptocurrency, thereby positively affecting its value. Lastly, regulatory developments and institutional involvement also exert a substantial influence on cryptocurrency valuations. Clarity and favorable regulatory frameworks can alleviate concerns regarding legality and foster mainstream acceptance, attracting institutional investors and paving the way for increased adoption, liquidity, and consequently, valuation appreciation. In essence, the value of a cryptocurrency is a multifaceted phenomenon, influenced by a combination of scarcity, utility, network effects, market sentiment, technological advancements, regulatory landscape, and institutional involvement. Understanding these dynamics is essential for investors and enthusiasts alike in comprehending the intricacies of cryptocurrency valuation.
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DaNNy001
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February 28, 2024, 08:31:06 PM |
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What's cryptocurrency? It's a decentralized encrypted exchange unit. Most cryptocurrencies are not decentralized and certainly not encrypted (Bitcoin isn't encrypted either). Demand and supply is a primary factor, there are so many other secondary factors that affects it leading to a change in price, understanding of these allows you make a calculated guess, how exactly the market will react in different scenarios cannot be predicted. - Jay - That's true and that's why its almost being impossible to actually get the actual price and movement of Bitcoin in the market although people can still relate to Bitcoin base on its past movement and that's why crypto enthusiast always speculate the seasons accordingly that comes with Bitcoin like the bull and bear season. But even with that the Bitcoin or cryptocurrency market in general is really hard to predict and so many factors involved in terms of the change of the market but some are being actually influence by some persons especially the altcoin and new project.
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Onyeeze
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February 28, 2024, 10:17:18 PM |
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A cryptocurrency is digital currency that is centralized currency and its values no one can be able to understand its values or get controlled over it values, so what I'm trying to say is that cryptocurrency have it values as a traditional currency has its value and it can be used as you use your traditional currency base on what we have at hand, so cryptocurrency is something that have to do with value approach, it stand on its own and its exceptional to any other values, but people doesn't know the main objective of cryptocurrency but many people discuss negatively about cryptocurrency without making a proper investigation about cryptocurrency...a crypto is a decentralized currency and its a currency you can be monitored on your own without anyone knows.
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Benedictare
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February 28, 2024, 11:33:51 PM |
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Cryptocurrency will continue to gain more value as long as demand rises than supply,in cryptocurrency the process of supply is often made known because every crypto prepare and produce it's token minting and plans like Bitcoin that has a stable maximum supply, since it is well known that there will be only 21million Bitcoin in supply. People wants to get more cryptocurrency because of its usefulness,and because of that,they want to sell it , which means more demand than supply will be gotten that makes the value automatically increase.
Cryptocurrency do get their profit from the strategies they imply which involves in like
Trading or Investing just like the stock market investments. Participating,when you involve yourself in mining or getting rewards around the Blockchain system also by Lending and Staking,by staking and lending other people . In an exchange platforms,based on demand and supply,values are increased . Basically,the supply of cryptocurrency is based on the number of new coins mined and the number of coins owner that want to sell.
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OcTradism
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February 29, 2024, 01:32:41 AM |
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What's cryptocurrency? It's a decentralized encrypted exchange unit.
My first time to know this definition about cryptocurrency. Also not all cryptocurrencies are decentralized. It's transactions are visible through a decentralized ledger (Blockchain)
Transactions can be visible, traceable with any public ledger. You don't need to have a decentralized ledger to see transactions and trace them. A public ledger can help you to do so and it can be either centralized or decentralized. How can you tell which cryptocurrency will go up ?
Use case and utility of a cryptocurrency will made up its value. Without good use cases, good utilities, it's hard for that cryptocurrency to gain value.
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odolvlobo
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February 29, 2024, 05:17:54 AM |
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... Supply: The more the units of crypto, the less valuable they are in units. If a cryptocurrency is readily available in bulk to the public, the value drops. Scarcity is value😅 ...
In economics, "scarcity" is not about the number of units of a resource. The number of units is arbitrary. Scarcity describes a situation in which demand is (or can be) unlimited while the supply is limited. Fiat money is not scarce because an unlimited number of units can be created.
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Sim_card
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February 29, 2024, 07:25:05 AM |
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Most cryptocurrency are centralized, and a lot of them are shitcoins, because the my are used for pump and dump by the dev to scam people of their hard earned money. Bitcoin is superior and is decentralized in nature, which makes it more unique amongst the rest because altcoins are duplicate of bitcoin. What causes cryptocurrency to gain value is mostky demand and supply, and what controls demand and supply, is news, social media and government regulation. OP, it is impossible for anyone to be able to predict the price of any cryptocurrency accurately because of their high volatile nature, and I think that you need to learn rather than teaching, so that you don't mislead newbies like you through your post.
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Dunamisx
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February 29, 2024, 04:51:53 PM |
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You know one thing that surprised me about OP is that what he is saying does not even tally with the title to the thread he created, how can a cryptocurrency gain value turned to making definition of what cryptocurrency is, this simply shows that he is also a newbie who needs to learn and be informed on what and how cryptocurrency can gain value, one cannot give anything from what he has nothing on.
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un_rank
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February 29, 2024, 06:11:43 PM |
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That's true and that's why its almost being impossible to actually get the actual price and movement of Bitcoin in the market although people can still relate to Bitcoin base on its past movement and that's why crypto enthusiast always speculate the seasons accordingly that comes with Bitcoin like the bull and bear season.
You are right. Predicting the short term movements is almost impossible. It can take any turn during the course of 24 hours irrespective of the demand or supply. When you expand your target period, to let's say, trying to predict the price range in the next two years. I can deduce based on the current feel of the market that we would go over $100k during that period. - Jay -
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Jaycoinz
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God is All
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February 29, 2024, 06:40:00 PM |
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Most cryptocurrency are centralized, and a lot of them are shitcoins, because the my are used for pump and dump by the dev to scam people of their hard earned money. Bitcoin is superior and is decentralized in nature, which makes it more unique amongst the rest because altcoins are duplicate of bitcoin. What causes cryptocurrency to gain value is mostky demand and supply, and what controls demand and supply, is news, social media and government regulation. OP, it is impossible for anyone to be able to predict the price of any cryptocurrency accurately because of their high volatile nature, and I think that you need to learn rather than teaching, so that you don't mislead newbies like you through your post.
I know very well for sure that all what you are saying is correct but when we include the truth in this we can say that some altcoins aren't that shitcoins many deem them to be and why? This is because some of them have show their resilience to the market price fluctuation and a good example will be the most popular altcoins which is Ethereum. Again during this bull run people actually make lots of profits from some of these altcoins because of the pattern of movement that corresponds with Bitcoin.
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nakamura12
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February 29, 2024, 06:47:22 PM |
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This is true that if the demand is high the price will increase and if there's a lot of supply even though there's a lot of demand then the price won't increase. Both supply and demand are partners if you ask me and it's the reason why the price of crypto is changing. To tell which crypto will go up is about its uses and how many people are using it because as you can see there are new cryptocurrency being made and not all of it are successful where some of it isn't useful or something like that which causes it's price to drop significantly and in the end will crash and go bankrupt which is also a loss of profits to investors.
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snowpega
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February 29, 2024, 06:48:28 PM |
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<snip>
This thread remembers me of my beginning day when I jumped into the crypto space actually my starting point in the crypto space was content writing one and half years ago I used to write content for my own website and in those days I had very less knowledge about crypto space I used to do research for understanding every term in crypto space and that research made me on the line I am not saying now I have knowledge of everything but I have learned a lot. Knowledge is like a see which is endless so I would always consider myself in the learning phase. Besides all that what would you like to say about the market sentiments? like do you expect any correction after or before the halving event? last day was too unexpected bitcoin reached the price of $64k. Bitcoin already has gained a lot so in your opinion where do you see the market if it makes any correct near the halving event? Must share i would love to know you opinion over this. any rough guess/prediction? Many Thanks
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un_rank
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March 01, 2024, 08:24:17 AM |
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like do you expect any correction after or before the halving event?
I expect a drop before the halving. I will not call it a correction, more like a bit of hesitation from traders on what would happen right after the halving. This should straighten up in the charts pretty quickly and we start on an upward trajectory again. ...where do you see the market if it makes any correct near the halving event?
Slightly below the $60k mark. But do not take any of this serious, I am just throwing numbers around. - Jay -
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