Introduction

It is quite a wonderful challenge upon me taking an assignment on the #SteemitCryptoAcademy for my first time. So fortunate for me as well, as i happen to be a Forex and Crypto trader.

Question 1

Explain in your own words, the concept of Dominance in the world of cryptocurrencies. What is the dominance of Bitcoin at the time of performing your task? (Present at least 1 graph) ^Source

Dominance in the world of crypto

As entailed by the word Dominance, in common terms, one could define it as having power over a particular group in things. Dominance entails pushing back your competitors and showing off.

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In the world of crypto, Dominance can be described as which crypto currency is showing off most. For a crypto currency to dominate, it entails most of the other crypto currencies prices will depend solely on the dominated currency.

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In the world of Crypto, #Bitcoin has a dominance of about 45% at the time of this post, making it the leading crypto currency, with a price of $50, 000/BTC
In 2009, Bitcoin had a Dominance of 100% being the only crypto at that time. Next in Dominance to Bitcoin is the skyrocking #Etherium with a price of $4000/$ at the time of this post.

Question 2

Mention at least 2 times where the market had strong falls, mention several affected currencies. (Use screenshots) ^Source

• First Instance
  With the Dominance of #Bitcoin, its rise and falls, most often affects Altcoins severely.
  Beginning with the later before the former, on May 13th, which was yesterday, there was a sharp fall in the prices of bitcoin which was mainly affected by tweet from Elon Musk about the denial of payments through bitcoin in the Tesla Car Manufacturing Company and environmental concerns.
  The strong fall can be seen in the chart below, with a very long black candle stick on 13th May.

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In accordance to Dominance, Bitcoin Value fall from the tweet (Fundamental Analysis), affected other Altcoins, inclusive the #Steem #SBD #Dogecoin #Etherium #Bitcoin_cash amongst others

^{Screenshot Source} With the sharp fall of Bitcoin, we can notice the fall of #Steem from 1.28/$ to 0.8/$. Another instance is that of Etherium. As seen on the chart below, we had a steep fall of etherium on 13th April

^{Image Source} Another affected currency was that of #BCH, on this same April 13th.

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• Second Instance

^{Image Source} This was a sharp dip on march 15th with affected crypto currencies such as the * Steem * Etherium * Dogecoin. An example is shown below with #steem.

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Question 3

What is the Altcoin Season? ^Source

This is a senario where all cryptocurrencies with #Bitcoin exclusive, experiences an exponencial rise.
Investors are often very keen, watching out this levels. As an increase in Bitcoin will cause an increase in other Altcoins. At the time of this post, i will say; it is evident for Altcoins to increase in its values, after the sharp fall of bitcoin yesterday, as bitcoin just took off grounds again in its rising.

Question 4

Give a brief description of at least 2 altcoins that are in the TOP 50.^Source

Ethereum

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In Dominance, it is evident that #Ethereum is second after #Bitcoin with a price #$4000/Ethereum. It is the most actively used crypto currency after #Bitcoin, and as well second in market capitalization. Ethereum began with a supply of 72 million coins as it went live on 30th July 2015, after its proposal by Vitalik Buterin in 2013. I can say investors have been looking closely on this said coin, as it found a drastic increase since it went live on 2015.
Though going viral on 2015, it was announced at the Bitcoin Conference in 2014, In North America precisely Miami.

Dogecoin

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Dogecoin is one of the Missy talked and debated coins this days. With a very high volatility. At the time of this post, the office of #Dogecoin is $0.59/Dogecoin.
Well, it trended far above that some few weeks back which attracted so many investors. It went on above a dollar, but due its dependence on #Bitcoin, the dip of bitcoin took it down with it, far less $0.25/Dogecoin.
It was created by Billy Marcus an IBM Software Engineer, and launched on 6th December 2013.
It actually began with a supply of 100billion coins.

Question 5

How can relevant news influence the price of cryptocurrencies in a positive or negative way? Name at least 3 examples. (Use screenshots) (Example: SENSO announced a 70% token burn, in a week the price increased more than 100%) ^Source

As sited above, it is evident that news events has a high influence on trends of crypto currency.

Crypto Market Tumbles as Elon Musk Voices Concerns on about digital currencies.^Source

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As of this incident on 13th May, after the Tweet from Elon musk, on method of payment using bitcoin being declined by his Car manufacturing company, of caused a great dip in many crypto currencies, with #Bitcoin #
Steem #Etherium inclusive.

Brent Oil to march forward to $70 as OPEC Extends Production cuts. ^Source

This news event actually cause a rise in the #Bitcoin Crypto currency.

Gold Price Analysis: There is more to downside, november 30th low. ^Source

This caused a fall in the Bitcoin Currency. ) ^{Image Source}

Question 6

Describe one of the following Penny cryptocurrencies:
Shiba Inu, Safeemon, or Eclipse
^Source

SafeMoon

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Safemoon happens to be one of the most trending and volatile crypto currency. Though it finds it selve amongst the newest crypto currencies, as it was launch this year, it has been noted for its *sky rocketing nature.
SafeMoon actually rewards its users from e-transaction. The rewards equired are solely based on the amount in percentage a buyer pays for the token.
holding SafeMoon token, requires crypto exchange platforms such as the Binance platform, which you could exchange the Safemoon for the Binance Coin.