Crypto Academy Week 10 - Homework Post for [@stream4u]

Price forecasting is analyzing and calculating the future value of a commodity based on its characteristics, its management, demand or even seasonal trends. Price forecasting is a good idea any crypto investor should know and practice. Prices are volatile in the market, so any business man will use it to determine if he is investing for a long term or short term. Many might not see the need for price forecasting. They just invest their money and say it will always increase. But business is built on what you are sure will be profitable not just investing. Imaging buying a currency today and it falls the next day. It also helps investors to budget how they are to invest into the market. Business is about losing money un concern. A good business man should know it and that will help him condition when to do business.

There are various types of price forecasting. Some are technical analysis that’s by looking at graphs to check the future prices. Sentimental analysis deals with using forms to generate panic to affect the volatile nature of a currency and the last being fundamental analysis. Fundamental analysis is the idea of looking at the management of a currency to condition whether or not to invest with them. Considering these three types, I will take fundamental analysis as my choice.

Fundamental analysis takes into consideration of both sentimental and technical analysis in disguise. Looking at the management, their products and how they do business, it tells you how their graphs will look like in the near future. You only see their productivity in the future and how well it will be god for a market. A currency might be the right time to invest, but considering things they are putting in place, it will be the best year to come. And it’s a business man who employs the use of fundamental analysis who will invest in such a future great company. Business is about losing money un concern.

From the second graph, we can see the resistance line, which dropped price from 594 USD to 479 USD. Here, investors will be contemplating either it will fall same as it raised or it will shoot up from here. As a business man, I would say it was the best time to do business. I mean invest into the binance business. Whenever there is a fall, there will be a raise.

From the last graph, we can see a n increase form 479 USD to 584 USD. This was from April 18 to April 20. This is a positive increase and business and it will keep raising due to its nature. From my analysis, i think the price of Binace BNB could raise to about 638 USD.

Price forecasting is good for every business man. It should be employed to always be in good shape for profits. For the volatile nature of the crypto market, its price forecast which can guide to make our businesses good. Thanks for getting time to read through.