The Steemit Crypto Academy Week 13 | Season 2 | - Homework Post for @imagen

@imagen

DOMINANCE OF CRYPTO CURRENCY

Digital currencies such as Ethereum, Dogecoin, and Binance Coin are skyrocketing, stealing the limelight from Bitcoin, and increasing the question of whether the time for liquidation in this sector of the cryptocurrency market is ripe.

This round of gains prompted Bitcoin's share of the $2.6 trillion crypto market to drop from about 70% in early 2021 to 43%. Strategists at and DataTrek Research LLC believe that this indicator may be an excessive push by investors. Warning signs of rising digital currencies.

The Nikolaos Panigirtzoglou team of JP Morgan Chase wrote in a report last Friday that Bitcoin's dominance is gradually weakening, echoing the "bubble" that was spawned by "the rise of other cryptocurrencies driven by retail demand."

Nicholas Colas, co-founder of DataTrek, said that history shows that when Bitcoin's share reaches 40%, digital currencies other than Bitcoin may fall "soon".

For some time, many commentators have been worried that the peak of cryptocurrencies promoted by stimulus measures is just around the corner, and as a result, they have risen higher and higher. But in an area where traditional useless, such concerns are hard to shake.

The decline in the share of the largest cryptocurrency may be due to investors' increasing acceptance of a wider range of digital currencies. Or, retail investors may be chasing rapid speculative .

Data Trek's Colar added that there are now more than US$2 trillion invested in virtual currencies, and “substantial declines may also affect more traditional financial assets such as stocks.”

In the view of the JPMorgan Chase team, this contingent cryptocurrency bubble promoted by retail investors is reminiscent of the peak of the cryptocurrency boom at the end of 2017.

Market that strong falls, mention several affected currencies. (Use screenshots).

In the current global market collapse, Bitcoin proved to be not a safe-haven asset. On Thursday,15th of May 2020, bitcoin fell by more than 20% in less than an hour, which is a huge drop even for this asset that is known for its volatility.

By Friday,16th of May 2020,the price of Bitcoin continued to fluctuate wildly. According to data compiled by Bloomberg, Bitcoin fell 32% overnight to $3,915, the lowest level since March 2019. During the Asian market, Bitcoin recovered a lot. Partly lost ground. It has fallen by 50% in the past two days, one of the largest declines in history.

The latest price rebounded to above $5,000/piece.

The Bloomberg Galaxy Crypto Index, which tracks a basket of cryptocurrency assets, hit its lowest level in history since August 2017, falling 49% in two trading days.
The speed and scale of investors' dumping of Bitcoin surprised even cryptocurrency traders who are usually accustomed to the violent volatility of Bitcoin.

Wayne Trench, CEO of OSL, a digital asset broker and exchange operator, said: "This sell-off has resulted in a large number of margin calls, and most investors are turning to cash.

The background of Bitcoin's collapse is that the rapidly spreading new crown pneumonia epidemic is disrupting traditional markets such as stocks, commodities and bonds.

Define Altcoin Season?

Altcoin is translated directly into the polish is another option coin and token refers to an individual term virtual monetary or money encryption . Therefore, its meaning does not lie in coins, but in another cryptocurrency of Bitcoin.

Give at least a brief description of 2 altcoin?

According to market capitalization, Bitcoin outperforms 85% of the top 50 digital coins and tokens. Altcoins have also parted ways, with a few top assets remaining, and smaller coins and tokens effectively disappearing.By increasing or decreasing the market valuation, Altcoin may fall or be promoted in such a ranking. Encryption currency market is very dynamic, very difficult to point out the most important cottage currency .

However, some of them have been at the forefront in terms of market value over the years.

1. Litecoin (LTC)-Improved Bitcoin, it runs faster, and the transfer cost is significantly reduced; Bitcoin is called Internet gold, and Litecoin is silver;

1. Tether (USDT) - tokens or coins on stable principles, always spend 1 USD; the controversial project because of its focus, lack of encryption currency against the US dollar reliable audit coverage, as well as USDT continuous printing;

How can relevant news influence the price of cryptocurrencies in a positive or negative way?

The prices of major cryptocurrencies in the international financial market have fluctuated sharply since the 17th, some of which fell more than 20% at one time, and the decline has since narrowed.

According to data from the website of the "Bitcoin Counter", a market information provider, the price of Bitcoin, which recently hit a new high, dropped to 52,148.98 US dollars during the weekend, and the price of Ether fell below US$2,000 from above US$2,300.

According to a number of international financial media reports, a rumor has been spreading on social media recently, saying that the U.S. Treasury Department may sue several financial institutions for money laundering through cryptocurrency, which has caused a sharp shock in cryptocurrency prices.

Michael Novogratz, founder and CEO of Galaxy Digital, which is engaged in digital asset investment management and trading, said that although Bitcoin prices may continue to hit new highs this year, the industry may face adjustments in the short term.

The sharp increase in individual investors' investment in niche cryptocurrencies such as Ripple means that there are a lot of crazy behaviors in the market. "This will never end well."

Stimulated by the successful listing of the US cryptocurrency trading platform "Bitcoin Base", the price of cryptocurrencies in the international financial market has recently risen significantly, and the price of Bitcoin hit a record high of $64,829.14.

Other cryptocurrencies also fluctuated violently. Ethereum fell below US$2,150, a drop of nearly 10%; Ripple fell by more than 15%. Affected by the collective decline in cryptocurrency, the U.S. stock blockchain sector plummeted before the market on 15th of April . Riot Blockchain fell more than 11% at one time, Canaan Technology also fell nearly 10%, and Ebon International fell more than 5

SAFEMOON

Safemoon is an interesting coin, crypto currency ,token(BEP-token).it is also an altcoin that is synonymous to Bitcoin it look like a dogecoin.In order to secure its network binance smart chain is used.its company it as a Defi token .it make over 10000 percentage growth it's first week into the crypto market.