Steemit Crypto Academy | All About Price Forecasting | Homework task for @stream4u

Hello Steemians !!

Today I'm going to make my Steemit Crypto Academy Homework task by professor @stream4u Lesson that talking about All About Price Forecasting. A new and good lesson for me. I will try to discuss it, i hope my knowledge is more developed about Price Forecasting.

Price Forecasting

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Price Forecasting is an activity that requires observation from time to time based on the data obtained. Investor and trader also needs to predict the price of cryptocurrency assets because this is a way to manage assets to become bigger. Price prediction usually takes time as the most important factor in analyzing and studying the data that can be used. Of course, the various aspects involved are also in the spotlight to find opportunities that can simplify and help the investment and trading process. Price changes are the keys that must be the main concern.

Technical Analysis is the basic things you can see in the cryptocurrency market covering market trends, market support, market capitalization, transaction volume, supply circulating, price changes and charts. You can record all this data and study it over time so you can determine the right time to decide when to invest and trade cryptocurrency assets.

Fundamental Analysis is the driving force that you can see from companies that have the potential in the crypto world. This includes vision and mission, management, reports, quality, activities, and all positive things that are convincing and worthy of being a priority in investing and trading cryptocurrency assets.

Sentimental Analysis is a supporting things that you can see from various media and news which has become the center of information around the world. Media and news that are continuously updated will affect the state of the cryptocurrency market. Investor and trader will start thinking about taking fast steps in investing and trading cryptocurrency assets.

Price Forecasting is Needed

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A good investor and trader is not someone who just makes an initial investment without any good moves. Price forecasting is needed as the main factor to get profit in the future. Time is a point of concern to make good movements in investing and trading cryptocurrency assets. The determination to sell, buy, and hold the assets is the key to successfully developing the asset to become bigger and eliminating the losses that may occur. Of course technical, fundamental, and sentimental analysis can be a reference that can help predict volatile cryptocurrency prices so you can make the right choice in investing and trading cryptocurrency assets.

Best Methods for Price Forecasting

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Fundamental Analysis is a great method of Price Forecasting in investing and trading cryptocurrency assets. This can be clarified by analyzing and investigating the companies involved. We can find out all about the company and company profile. By doing this and getting the results, we can study and decide whether or not a company deserves to thrive in the crypto world. Forecasting prices in the short and long term can be done with great patience and confidence. All data comes from the company and the assessment comes from our own. In this case we do not need to look and check the current state of the market anymore.

Price Forecasting on Crypto Asset Chart

This is a Uniswap (UNI) chart. This is a graph for 1 month. UNI price is now around 30 USD. Currently UNI price is in a downward trend since the last 3 days. This is because the trend and market support for all cryptocurrencies is negative. Price forecast for the next 7 days may still decrease to 28 USD (lowest average price) because the graph has not shown any sign of a significant increase in price. For now it is better to hold the assets. However, UNI price increase could occur in the next 2 - 3 weeks up to 35 USD (below the highest point ever reached). This will happen if the trend and market support of all cryptocurrencies turn positive. At that point the waiting time and the reading of the chart will determine the investment and trade of the asset in a manageable amount.

As investors and traders we can only predict prices based on data analysis. However, the certainty of the predictions will not necessarily happen. We can only do our best to develop cryptocurrency assets by investing and trading well.

Thank you for reading my blog, maybe there are still many mistakes of my homework, but here it is. Hope it will be useful for all of you.

CC:
@stream4u
@steemcurator02