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Hello everyone,
I'm very happy to participate in this week lecture from our seasoned @crypto-professor @stream4u whose classes are very beneficial and technically equipped to impact positively to steemians including me. I will solely publish this post based on my well-researched projects and lessons gotten from the class. This week's homework task is based on:

• What is price forecasting?
• Why price forecasting is needed?
• What method of price forecasting is best for me?
• At a chart, explain a trend of price forecasting and prediction?

PRICE FORECASTING

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In market, price is not static but very dynamic with it's trend uncertain. It's very difficult to decide effectively at what state the price of coins in market will be at a particular time but with serious helps and predictions, the price can be accurately forecasted.

The ability to predict what the price of a digital coin will be in the future is termed PRICE FORECASTING this is achieved through various prices analysis.

Price analysis is very useful to predict price of coins as it helps the investors, traders and analyst to know the market trends and those trends will be important to forecast the price of such coin.

THE IMPORTANCE OF PRICE FORECASTING

Since price is the major market indicator both in short or long term investments. So it will be very important to know it's trend.

Price forecasting is very helpful as the investors will know exactly what to do with his investment rather to increase it or stylishly reduced it.

Price forecasting is very important in the area of risk bearing. Since the up and down movements of price can lead to high or low risk concerns. Everyone is very interested in price forecasting to know how best to bear the risk.

Price forecasting helps to reduce losses whenever the price forecasted according to accurate market trends, an investor can rightly know how best to eliminate or reduce loss as the case maybe.

Price forecasting is very important to differentiate the projects or products based on its risk, returns, profits and loss. Those products with possible high prices forecasted with low risk will attract huge investors while the other will scare them.

METHODS OF PRICE FORECASTING.

From the previous lecture of season one from you, my @crypto-professor @stream4u, I really learnt a lot about technical skills and knowledge. I even made a post based on the homework task given by you then. From the knowledge that I acquired, I will combine both the technical and fundamental approaches

However, the technical skills will help me to study the charts, uptrend and downtrend, support and resistance level etc to forecast the prices of my intending investment accurately but there's no crime, it will even be advantageous, to study the protocols, the whitepaper, the tech gurus behind the protocols and their activities to know how best the project and it's price will trend in future.

From a chart, the price prediction and forecasting

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From the chart above, the prediction of the price of Bitcoin is very easy and accurately. One can see clearly how the price of Bitcoin keep growing up from the year 2009 to the recent year of 2020. Although there are downtrend too but it was not much and it's deficiency cannot affect greatly the authenticity of predicting the price in this year 2021.

However, from the chart above, the price will be very high and good for business ideals. I will strongly advice that one can invest wholeheartedly but based on individual's tolerance level to risk.

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In the chart above, its based on power law approaches but what that interested me more is it's clarity. The support level is indicated and very low and the robust level showing the high increase in the price of Bitcoin. With this chart, the price prediction is very positive and attract more investment.

CONCLUSION

Price play a very vital role in the market and should always be checked. The prediction of the price is very important and the approaches to adopt in price analysis is very important to get accurate price trend for investment and to manage assets.

Thanks to @stream4u, @steemcurator01, @steemcurator02, @steemitblog, @steamalive and @focusnow for the encouragement, motivation and support.