Crypto Academy Week 6 - Homework Post for @besticofinder

Hello steemit community! Hope you all are doing good. Week 6 lecture is here and again informative as always. This is my second homework for @besticofinder. So without wasting any time let’s get started.

Homework Task 6
You need to do your own fundamental analysis and select the a crypto currency to invest in 2021. ( coinmarketcap.com : Token Rank Should be between 100 - 400 range | ( Excluding Steemit) )

Prepare a article explaining the factors you considered for your selection considering followings

1. Read the project whitepaper and explain the project concept
2. Discuss the social reach , project purpose , team , response from the market for the particular project.

Discuss the factors supporting your decision and explain why the particular project will be a good investment.

• If I will be investing this year(2021), I will invest in Ethereum because of the following factors:

Project White paper and the project concept.

Ethereum was created with the aim of creating an ungraded cryptocurrency with advanced features including on-blockchain escrow and withdrawal restrictions, all while using a high-quality generalised programming language.

They plan to create a new protocol for developing decentralised applications that allows for such trade-offs that will benefit a wide range of decentralised applications. Ethereum would accomplish this goal by developing a blockchain with a built-in Turing complete programming language that allows any user to build smart contracts with their own collection of arbitrary ownership rules, state transfer functions, and data formats.

The social reach , project purpose , team , response from the market for the ethereum project.

Since its protocols have the potential to dramatically improve the productivity of the computing industry and offer a substantial boost to other peer to peer protocols by providing an economic layer for the first time, Ethereum is being debated as much more than a currency. The Ethereum protocols also have the distinct feature of being an open-ended, multi-purpose protocol that is well-suited for a variety of applications including banking, gambling, and data storage. In the near future, we will be servicing both financial and non-financial protocols.

The Ethereum cryptocurrency's philosophy is to adhere to the following principles: simplicity in implementing the protocol, universality in its ability to build any smart contract, modularity in terms of benefiting the cryptocurrency ecosystem, agility in terms of future modification, non-discrimination and non-censorship in terms of being accessible to a diverse range of users with different needs.

Market analysis on ETH as of today(17th March, 2021)

After trading as high as 1819.20 during the European session, Ethereum (ETH/USD) weakened marginally early in the Asian day, with the interday high reflecting a test of the 50-hour simple moving average, as well as the 76.4 percent retracement of the depreciating range from 1976.72 to 1292.76. The pullback during the North American session was only below the appreciating range of 1706.25 to 1819.20, according to chartists. During the climb, stops were placed above the 1881.21 stage, which represents a 78.6 percent retracement of the depreciating range from 2041.42 to 1292.76. If the price of ETH/USD continues to rise, additional upside price targets include 2080.48, 2134.98, 2150.66, and 2210.42.

Factors supporting my decision of investing in ethereum project:

In light of the white paper, the coin is committed to change and is willing to serve a diverse range of users without prejudice. Because of the constant access, this will easily continue to boost the coin's growth. This element may be to blame for the company's recent upgrade announcement. Also my decision is based on the above financial review as it shows now is the best time to purchase the coin for future profits.

That’s all from today’s homework. I did a lot of hard work so I hope you like it @besticofinder.