Contest !! || Supply and demand dynamics in cryptocurrency
I am @chiagoziee as you all know, and I am really interested in this contest and see it's as a contest worth participating in so I will be engaging in this contest and will do my best to participate actively as expected of all participants.
What you understand about supply and demand in market?
Supply and demand work hand in hand, in other to enhance the effective functionality of trading at the market and during the process of transactions in the crypto market. Here is my own understanding is the terms which are "DEMAND AND SUPPLY".
Supply in particular can defined as the actual quantity of commodity which the producers are willing to offer for sale at a particular price, and at a particular period of time. While.
Demand in the crypto market, in terms can be referred to the actual quantity of a commodity which consumers are willing and able to purchase at a particular price and at a particular time.
What effect would be at market if supply of particular cryptocurrency is increasing?
Supply does the opposite of what demand does to the cryptoworld, so below is what supply actually does.
The main thing the will affect the analysis of the trading volume and chat due to supply is that, when the supply of a certain cryptocurrency increases in the market, this increase will possibly lead to the fall/low in the price of the particular cryptocurrency.
What effect would be at market if demand of particular cryptocurrency is increasing?
In the case of demand the following things will occur if the demand for a certain cryptocurrency increases. it will lead to the following things below.
If the demand for that particular cryptocurrency increases, it will cause the total increase in price of that cryptocurrency and also make buyers switch to the act of buying a more cheaper cryptocurrency. this will also lead to the demand for that particular cryptocurrency and also cause it to increase, in this way the other cryptocurrency in which the buyers were buying will become cheap and will bring back their attention back to the initial cryptocurrency there were buying.
I will like to invite @ahmneska,@bonaventure24,@josepha and @xubair to take part in this contest.
Thanks for being part of my post.!!!
Thank you, friend!
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