CRYPTO ACADEMY:::: HOMEWORK FOR @stream4u

in SteemitCryptoAcademy3 years ago

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Hello everyone,
I'm very happy for this rare opportunity of learning more about crypto currencies and vital studies therein. This week focused on the Reverse Strategy and CoinGecko which are very important "field of study" in crypto market. Thanks to @stream4u.
This homework post will be based on:

  • Technical details on Reverse Strategy.
  • Review of CoinGecko based on:
  • What is CoinGecko?
  • How CoinGecko can be helpful in Crypto market.
  • CoinGecko features and Weekly price forecasting for Binance Coin.
    1. Basic Information on Binance Coin (BNB) and
      the prices prediction for the next one week.
    2. Reason for the selecting Binance Coin.
    3. Fundamental studies of Binance Coin.
    4. Based on the Technical studies, what are the
      low level and the high level of the selected
      coin in market.

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Technical details on Reverse Strategy.

Reverse Strategy is a term coined by our crypto-professor @stream4u which can be replaced by any other words but the principle should be the same. The principle behind this term is to avoid panic situation or unnecessary loss in the market and state clearly when to invest or amass coins for benefit purposes.

Whenever a coin is in the two extremes of the market for longer periods. These "Two extremes" in the market could be bearish or bullish points or levels. They always create a unique situation in that in any of the two, there's always a high trading volumes. A decision taken at this point will always be unwise and can lead to uncertain situations.

However, in such uncertain situations, it's better to apply the principle of Reverse Strategy thereby waiting for a whole day or 24hrs Price's change to ascertain the best decision to make in such trade.

Reverse Strategy comes in two forms as explained above. They are:

  • Bearish Reverse Strategy
  • Bullish Reverse Strategy.

Bearish Reverse Strategy

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Examples of Long Bearish Level

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In this bearish Reverse Strategy, it is applicable exactly whenever the price dips -20 and below and at this point beyond the best buying positions but can't be certain at that point. Then, this strategy will help the investor to hold and wait then to rush in with a bad trading decisions like to buy more, thinking that the bullish trend will start but if the price goes more downwardly ... Then, the loss will be more. Although, a stop loss level is very important to note the price changes and a waiting attitude will be helpful to observe a reversal and then invest more.

WHILE

Bullish Reverse Strategy

Here, the price keep going higher, the surge always create a sell position for moderate tolerant sellers but whenever it is at +20 or more, it's better that Reverse Strategy should be applied and to notice a turned-around in the price.

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REVIEW OF COINGECKO

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This is a wonderful platform for crypto market because it provides vital informations of crypto coins. Those informations includes:
The Spot Prices of the coins and it's changes
The Total Crypto currencies trading on various exchanges
The price growing rate of several coins
** The Categories in which the several coins belongs**
The Total Market capitalization
The market ranks of coins
** The recent added coins and their whitepapers**

However, all these details are collected from several reliable sources like exchanges, crypto's whitepapers etc and presented in this unique platform to help investors to conduct a comprehensive Technical and Fundamental Studies on several digital coins.

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How CoinGecko can be helpful in Crypto market.

Crypto market is very volatile and unstable. Because of this, many traders are crying due to the poor market decisions taken in a given order which may result to loss of their assets and capital but with the help of CoinGecko, A trader can make good decisions on when to invest and cash out.

An astute investors pay serious attention on the price fluctuations of their investment portfolios, CoinGecko provides a wonderful platform to know actual price and prices forecasting in real time.

CoinGecko arrange the coins in various categories and state it's prices changes per hour.

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The categorization of the coins helps the investors to know the nature of the coins very well. Which is very important to know the one to invest. For instance, I always invest stable coins most preferrably, USDT and trade it with exchange based token like binance coin(BNB) for easy transaction.

CoinGecko provides another unique features for investors. This feature helps to settle the problems of conversion of currency of the coins during trade. By stating the currency of the coins and market value of any volumes of the coins.

CoinGecko helps the investors to find out the exchanges that they can reliable on while trading. Many have been scammed and such unreliable exchange platforms present inflated prices for their coins and lure many to their platforms. Only to cheat them of their assets. But,with the help of CoinGecko, those reliable exchange platforms are presented.

CoinGecko helps to introduce the newly added coins and it's development. The investors are always attracted to new coins with high liquidity. It's rare to get such best opportunities.

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With the aid of CoinGecko, what is the Weekly price forecasting for Binance Coin.

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Binance Coin (BNB) is an exchange based token of Binance.com. it's very important when trading on that platform. But, with CoinGecko as shown above, can really tell you a lot about this coin. It shows it's ranking #3, it's market cap, circulation in supply, the price and it's fluctuations which are very vital for investment and trade.

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Reason for the selecting Binance Coin.

There are many coins that can't be traded on many well recognized platforms, thereby limiting their development, liquidity and accessibility. Trading with such coins will be limited and highly unappreciated. But, BNB is an exchange based token from a well recognized platforms that one can trade with every time. The platform, Binance is highly reliable and this coin can be accessible in all reliable platforms worldwide. Also, the platform being centralized, there's a serious security backing to scare away hackers. They also keep an eyes on their coins according to their whitepapers.

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Fundamental studies of Binance Coin.

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Binance coin is a wonderful crypto currency that generated by an excellent exchange platform called Binance and it's serves as it's native coin. This coin is of ERC-20 standard that runs on Ethereum blockchain technology.

The consensus mechanism for BNB is partially POB which is proof of Burn which is an improvement of Proof of stake. In POB, every quarter, a half of BNB are permanently destroyed or "BURN" while the profits of the other half are used to repurchased. This helps to checkmate the circulation in supply and keep the Blockchain active. As a Centralized based token, it is store in the binance Cain Treasury.

Initially, Binance coin is created as an utility coins and used for payment of flight, hotel fees etc. Although it's usage have increased and expanded into other transaction purposes.

Currently, Binance is ranked #3 behind Bitcoin and Ethereum . It has a market cap of $83,313,1
97,751 in terms of size.

According to their whitepapers, this coin was first launched as an initial coin offering (ICO) in 2017. Their sharing formula during the ICO process are

  • 10% - 20 millions of BNB token to the special investors or otherwise known as angel investors usually the friends and family members of inventors or the founding team, who staked their funds.
  • 40% to 50% to the founding investors or teams.
  • 50% to the various investors that participated in the process.

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Based on the Technical studies, what are the

 low level and the high level of the selected 
  coin in market.

However, Within 24 hours of the market of BNB the lowest price was below $486 while the highest is at $594.14 with market cap of $83,313,197,751.

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With this chart from this site,the price change of BNB for the past 24hrs. This show a gradual increase in the price. As it's picking up from the bearish or downward movements experienced.

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CONCLUSION

Technical skills are needed to be equip for crypto market. This skills are acquired by getting accurate knowledge of strategy, policies and procedures like Reverse Strategy etc to help the investor to maximize their interests and reduce losses. Great platform like CoinGecko renders a big helps too.

Thanks to you, my seasoned crypto-professor @stream4u, @steemcurator02, @ctime, @kervinwong, @acidyo and @steemitblog for your encouragement, enlightenment, motivation and support.

Sort:  

Hi @sammylinks

Thank you for joining The Steemit Crypto Academy Courses and participated in the Homework Task.

Review Visit Level
Task Remark
Comment
Guidance, Feedback, Suggestions
Grade
Verification (Done, Hold)
First
Completed
Provided information are explained well. 1) Reverse Strategy: You could try to show some closer view of Chart and explain as you did like with arrows, with closer view readers/visitors can understand quickly. 2) CoinGecko: In this, you can try to put more screenshots of its features, in CoinGecko still there are many things that you could try to explore. 3) Price Forcast: As you selected Fundamental studies so you can use some screenshots of the sources from where you get the details, you can try to show their balance sheet, roadmap, future planning, etc, etc these are a few of the points that majorlly consider in Fundamental.
you are doing great, but just try to be more informative and provide all possible details.
7
Done

Your Homework Task verification has been done by @Stream4u, hope you have enjoyed and learned something new.

Thank You.
@stream4u
Crypto Professors : Steemit Crypto Academy
#affable

 3 years ago 

Thanks boss.

Your article is very straight to the point and enlightening @ sammylinks, I mostly love that you talked about Binance Coin.

Currently, Binance is ranked #3 behind Bitcoin and Ethereum . It has a market cap of $83,313,1
97,751 in terms of size.

This is so true and the way Binance Coin climbed to the top is a thing of joy and one must invest in it fast to earn better.

Thanks for sharing buddy.

#nigeria

 3 years ago 

Thanks brotherly.. you reading my post and contributing meaningful is highly appreciated.

#affable #nigeria

Anytime @sammylinks, good contents attracts readers.

 3 years ago 

Ok brotherly

Neat explanation. Good coin selection .

In my opinion BNB alredy pumped huge,so there is little bit correction we expect in bear season.

#affable #india

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