The Crypto Academy Season 2 - Week 13 - For @imagen

SUB-TOPIC A

Dominance in the world of Cryptocurrencies could simply means the hierarchial market value of a crypto coin over another.

The crypto asset that is at the top of the hierarchy in terms of its current worth in the Cryptocurrencies market is said to be dominant over the others crypto asset. The best example, is that of Bitcoin over other crypto asset where Bitcoin have a larger if not half of the market capitalization of the whole Crypto asset since from the inception of Cryptocurrencies to the world.

Dominance of Bitcoin is simply the value or worthiness of Bitcoin over other Crypto coin usually refers to as altcoins like Litecoin, Ethereum, binance etc, in terms of market capitalization Bitcoin as of the time of writing this work (11:23 AM Wednesday May 2012) have 43.94% market capitalization calculated by tradingview platform. Bitcoin dominance is very important in knowing if the other altcoins are in up or downtrend.

SUB-TOPIC B

Just like any other market, Cryptocurrencies also face rise and fall in it's market space. The very strong fall of Crypto market is that of the pandemic crisis time In the early of the year 2020, where it affected every sector in the whole world, and Cryptocurrencies is not excluded.

Bitcoin, the first ever Crypto asset with the largest market capitalization face a great slide down during the pandemic period dropping from it highest peak price of $12,817.17, as of mid 2019, to as low as $4,748 all within few days.

Ethereum a second crypto asset that have a bigger market capitalization after Bitcoin was greatly affected during the pandemic period of covid-19, where whoppingly dropped from over $250 to as low as $95 just Within a week time.

Litcoin, a very popular crypto also face a very great challenge during the pandemic period, dropping from $115.$39.42 at at January 2020 Within few days.

Ripple oftenly known as XRP also faces a great challenge in downvaluing during the period of covid-19, ripple is not a strong asset with a big market capitalization so the market fall almost sweep it away where it dropped from somewhere above 0.2 to a very low value of $0.1

2nd Strong fall

This happened in 2018, Crypto investors to think that government may banned the crypto market and within a week they started degrading in their price value. Bitcoin crash fall with almost 10 thousand dollars wiped away from it actual value of $58,000 to something below $45,000 just Within 24 hours.

Ethereum also faces a great chalenge and went under selling pressure where it dropped from it first all time peak of $2,042 to as low as $1,469.88.

SUB-TOPIC C

The word Altcoins season, one might thought of it being a period for altcoins to gain the market place or something like that, no, Altcoins season is period where the super king of Cryptocurrencies (Bitcoin) returns and have a sporadical dominance over all other Crypto asset where the Bitcoin investors take some parts of their Profit from Bitcoin and invest in the altcoins and play altcoins games.

This usually happens so as to enable the bitcoin investors to enjoy the kind of profit altcoins give in Altcoins season.

SUB-TOPIC D

Ethereum:

Ethereum is an open source distributed public blockchain network that was developed by Vitalk Buterin a 24- year- old Russian-Canadian.

It is considered one of the efficiently developed platforms with an extension to the original concepts of core blockchain where theprotocol of bitcoin was improvise in other to support application beyond currency issuance, having smart contract features as it's major breakthrough that can easily write, deploy on, flexibility, and multi-industry adaptability.

Hyperledger:

Hyperledger is an open source development project to benefit an ecosystem by The Linux Foundation. Unlike ethereum as a single platform, it is more like umbrella strategy with multiple platforms for developing enterprise solutions. It started it journey back in 2015 exactly that time when blockchain started gaining attention of the world.

SUB-TOPIC E

Like any other asset investment platform will get boomer or depreciate as a result of a certain news, Cryptocurrency is not different from it. Relevant news has since being something that affect the market price of any commodity after demand and supply. News outlets have long ago became a strong influence on any business.

Cryptocurrency has become hype and sensitive to news in this century mostly because it's an independent asset with zero authority from the government, or maybe be it's because it is usually run by all types of people around the globe and any impression about it might have an impact that is positively or negatively on its market

An example was in November 2017, the price of bitcoin rise from 9K to 20K just Within a month as a result of the positive comment that bitcoin get from people which happens to be the most important phase for bitcoin and since from then it keeps on increasing.

Another example is that of the first four months of the year 2018, it was a period where government started showing resentment on the use of Crypto and this scared off investors where they started selling off their investment and thus bringing the price down.

Other example is the mostrecent tweet of Elon Musk where he announced that Tesla is no longer accepting Bitcoin to Tesla car as a result of the carbon emissions that occurs during the mining of Bitcoin until the mining is transitioned toa more sustainable energy.

This tweet have a very negative impact on Bitcoin price because it plunges from 53K to 45k Within 2 hours of the receipt of the tweet.

Shiba Inu

Shiba Inu: named after a dog breed like dogecoin, was created in August 2020, a self claimed as dogecoin killer traded as SHIB, worth of $0.000029 in the first week of May 2021, started gaining increase as a result of being added to some Cryptocurrencies Trading platform. It has over $8bn of 24hr trading volume from less than $1 in January 2021.

@imagen