Steemit Crypto Academy | Course By @stream4u - All About Price Forecasting.

What Is Price Forecasting?

Before we define price forecasting let me analize the word forecasting. In simple terms Forecasting can be described as a technique which applies or make use of historical data which is used as inputs in other to formulate apt and informed estimates that are used in determining the flow of futuristic trends. Entities such as Businesses,firms and stock brokers utilize forecasting to determine the trend of the market in other to mobilize the highest possible interest and profit from their anticipated prediction. From this definition we can easily deduce the definition of price forecasting. Price Forecasting as regarding to crypto currency can be seen as the futuristic anticipation of either the rise or fall of a the market cap and value of a coin which helps investors or stakeholders to make apt and informed judgement when taking a decision pertaining any business or investment. Price Forecasting is speculative in nature which implies that it's predictions are highly under probability,but if speculated rightly,could drastically turn the furtune of an individual a business, or an organization around,For example i bought about 58 steem for 440 naira with the hope that it will rise in the future in just 3 days time when I sold it,it rose from 440_658 isn't that amazing,so that is why I made emphasis on how ur life and business can gain a highrer margin if the prediction speculated is apt and correct.

WHY IS PRICE FORECASTING NEEDED

Every organization, business or firm who wants to do well,must be willing to key into the speculative measure of analysing the narket if it intends to grow and expand.
Here are some of the vital and pivotal benefits of price forecasting as regarding the cryptocurrencies market

1 It helps in making decisions that will benefit the individual, business or firms in future as demonstrated by the example i shared above.

2 it leads to growth and expansion of the cooperation, business or an individual in the eventuality of the right prediction, thereby having a positive effect on their net worth.

3 price forecasting helps in diversification, as it enables individuals or business to direct their resources to the current trend in the market because of its potentiality in the nearest future for example before the advent of ethereum Bitcoin was dominant in the market and then ethereum came on the sceen and those who had an eye predicted the futunes ethereum would bring in the future, today we can all see that ethereum is mega even though its is not as big as Bitcoin but it is still holding its own at the top level.

4 it helps in reducing or preventing the risk accrued to losses, as this corporations or individuals sometimes take precautionary measure based on the speculations they make by price forecasting.

QUESTION 3

1Technical method

The aid of technical indicators such as chart analysis, moving average, support and resistance,price signals,trend changing indicators and other factors are the tools traders or individual use in analysing the market in this method.From this description you will noticed that analysis in this method are projected or made based on external factors which assist decision making for futuristic benefits

2Fundamental method.

The use of the fundermental method, does not give room to Clients and traders to make use of chart patterns rather it makes estimates or prediction about the market by evaluatingthe factors that can affect or influence the value of an asset positively ot negativity. These analysis are enacted or performed on the back bone of the financial statements of the asset and on the bases of other externally induced factors that has the ability of influencing the assests future price.

3Sentimental method.

The sentimental method or market sentiment is a method used by trader s to make judgements or analyze the market based on what they see and hesr on news, and other media platforms.Some of the news acquired are aimed create panic and unrest situation in the market which these traders exploit in a bid or quest to take advantage of the situation created by this news. Adopting this method could have both a positive or a negative effect depending on the side the pendulum swings to.

Market sentiment generally depicts the psychology of the market system and it's players. This method hellps in studying the subject of financial behaviors as it pertains the area of behavioral economics of the narket.

WHICH OF THE METHOD IS BETTER?

The two main method used for price forecasting or analysis in the market are both the Fundermental andTechnical method. The two are viral and Integral, but personally the technical method of analysis is more preferable as it makes judgement or predictions based on, apt facts and projections of both the historical sequence of the market and its current trend. ThisMethod has been proven to be valid over the years as it is most suitable for day to day trading affair's.

QUESTION4

THE GRAPHICAL PROJECTION OF BINIANCE IN2WEEKS

source

The graphical representation of the Biniance above shows a steady but increasing rate in both the volume and the market capitalisation of the Biniance. This upward slope is good news for those who owns some Biniance coins and also for major investors, as an increase in prices implies and indicate an increase in the profit margin.

in conclusion the Biniance coin in the next weeks will be a fertile coin to invest in, as the coin is projected to rise.

Thanks Prof,@stream4u for ur impactful lecture,what an insight into the world of price forecasting,once more,i thank you

Cc:-
@steemcurator01
@steemcurator02