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Hello everyone,
I'm very happy to participate in this week's lecture and ability to create a post based solely on the homework task given by our astute crypto-professor @imagen. This post will focus on these:

• Explain the concept of Dominance in the world of crypto-currencies. What is the dominance of BTC in the time of this task.
• Mention at least two times when the market had a strong fall. Mention several affected currencies.
• What is Allcoins season?
• Give the brief description of at least 2 allcoins at the top 50.
• How can a relevant news affects the price of crypto-currencies in positive or negative ways? Name at least three examples.
• Describe at least one of these penny crypto currencies.
  Shiba Inu, safeemoon and eclipse

THE CONCEPT OF DOMINANCE IN CRYPTO-WORLD

The term "Dominance" whose meaning is synonymous with the following words like superior, prominent, profound and seniority. This is words are use to show the "strong influence" of something or person over another of the same thing. The strong influence are mostly noticable if it's in price, value or quality over the other.

However, in the world of crypto-currencies, the Dominance is very profound and noticable in the market capitalization. Which of the crypto currency dominant all other coins? It's Bitcoin! Since it's inception till now, no other coins have command a serious and strong influence over other coins like what Bitcoin have done in the crypto-currencies market even with Allcoins' exploits. To help people with the knowledge of blockchain and crypto currencies to understand about this great modern financial institution in my country, #nigeria, just tell them that you are discussing about Bitcoin, so easily they will understand clearly.

However, the market capitalization is even the total market value of Bitcoin across all major exchanges in the specific point of time. The reason is clear because Bitcoin is the dominant force in the crypto market and the market value of many crypto currencies depends mostly on the price of Bitcoin. Whenever it's value falls, majority of Allcoins will suffer mostly.

BITCOIN DOMINANCE OVER ALLCOINS TODAY.

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The strong influence of Bitcoin can be felt on other Allcoins as the price crash too. The market cap of Bitcoin decrease as same with others. Look at this chart of today's crypto currencies market below.

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The price of Allcoins are trading in deficit as the other price of Bitcoin today and the increase of price of Bitcoin will influence the prices of others favorably.

The Major Two Times Of Market's Strong Fall and the major digital coins affected.

The uncertainty of the market is well-known and the prices of these digital coins are highly unreliable due the strong dynamic factors of demands and supply parameters.

The first major market crash experienced in crypto currencies is below the January to February 2018, the price of the major digital coins dip very below their all time prices. For instance, the price of Bitcoin crashed 65 percent low. By the September 2018, the prices dropped very lower at below $4000 which is higher than $7000 at the end of the year 2017. The decline of the price lead to the wiping up of many assets of investors and serves as a good investment for whale buyer for hodling.

Another crash in the market is currently experiencing now, the price of the major digital coins are dropping from their peak. For instance, Bitcoin dipped lower from $64000 to $36000 last week. The major all time of $64000 on 21th April 2021 to the current price of $54000 now. But the Allcoins are really doing very well, for example, Dogecoin show a tremedrous increase and Ethereum reaching it's all time price of above $4000.

WHAT IS ALLCOINS SEASON?

The Term "Allcoins" is used for all other digital coins apart from the dominant crypto currency, Bitcoin. The reason behind this term, Allcoins is due to the fact that majority of them behaves alike and their prices depends on the price fluctuations of Bitcoin.

However, the attention of investors and major financiers are shifting from Bitcoin to the Allcoins making it more attractive and good investment projects for many. Their behaviors and prices are now preculiar and specific to them individually. Allcoins prices and worth have increased recently.

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Allcoins season occurs when the 75% of the Top 50 performs better than Bitcoin in the last season of trade usually 90 days.

MATIC

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This is one of wonderful digital coin that's very scalable and highly accessible. It's ranked #32 and had make tremendous price increase.

However, the market value of MATIC is below $0.5 in the January 2021 to the above $1.5 now making it 17.70% increase with the $2 billion trading volumes. With these increase, the market dominance of this special coin is 0.25%.

ETC

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This is a very great coin that's built on Ethereum technology. It has a very high scalable and prominent in crypto currencies trading.

However, this coin is ranked #18 with market cap of 0.823, dominance of 0.49 and trading volumes of over $9 billions. It's consensus mechanism is POW making it very mineable.

How can a relevant news affects the price of crypto-currencies in positive or negative ways? Name at least three examples.

An important news can create panic in the market which favor trading or adversely affect it. These are some examples:

• The billionaire Tesla's words on the Dogecoin that calling it "the future of currency. The unstoppable financial vehicle that will take over the world" during a SNL's show 11 pm EDT on Saturday last week affects the coin positively.
  However, the Dogecoin was quoted as low as $0.416 on BINANCE before the show but move up to $0.569 on Sunday and currently trading at that new price.

• On 5th February, 2021. Nigerians was surprised and shocked when the Central Bank of Nigeria announced the ban on crypto currencies and ask all the commercial Banks to close all the accounts used in the trading. This create mistrust among Nigerian and the banks. It is still affecting the power of crypto-currencies as a innovative modern financial transaction now.

• The sudden announcement and corporation of crypto-currencies with many football clubs with huge fan bases. Clubs like Barcelona, Juventus and PSG had their token that gives their fans a lot of right and ability have increased the awareness of a lot of people over crypto currencies and rekindled their trust too.

Shiba Inu

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This a highly decentralized token that allows the user to hold billions or trillions of them at a time. Although it is a penny crypto currency, it have the capacity to outsmart the Dogecoin in the near future.

However, this ERC-20 only have 50% of it in total supply and other parts burned to the system (POB) making it viable and will increase it's worth with time.

Conclusion

The Dominance of Bitcoin is very profound and a very strong force in crypto currencies trading but it's gradually fading away with the emerging market value of Allcoins. The news whether fake or from verified sources can create panic and mistrust in the market opening a rare opportunity for whale buyers and panic selling. The influence of penny currencies is strong and majority of them don't last longer.

Thanks to @imagen, @steemcurator02 and @steemitblog for the encouragement, enlightenment, motivation and support.