Introduction

My fellow steemians,
I am so delighted to be a part of these amazing program going on the steemit platform. Since these very program started I have really learnt a whole lot from the various professors. Sincerely this very program has help me to widen my horizon on blockchain and crypto currency through the lectures delivered by the various professors and my research in carrying out the assignment task usually given. Having attended the lecture delivered by our own very dear professor in the person of @stream4u, on the topic "All About Price Forecasting." I am happy to present my homework task here, this is to prove or indicate my level of understanding concerning the class held by the professor. Please read through and learn a bit from my blog as well.

What Is Price Forecasting?

The word price forecasting simply means predicting the future price of a commodity or product or services using various factors such as the characteristics or the demand or the seasonal trends of the said commodity or product or service. Price forecasting is a major tool that is used in the crypto world. The uptrend and downtrend in the market cap is all determined by price forecasting. Most people in the crypto world today who are doing well in crypto currency always study the price using the uptrend and downtrend graphs.

Discuss on why Price Forecasting is needed?

Price forecasting is needed for so many reasons. Among which are listed below.

• it enables investors to maximize their profit.
• it helps traders to understand the right time and moment to trade.
• it also educate traders on how to read the candle stick. That is when we are are talking about bullish and bearish.
• Price forecasting is needed so as to utilize the little opportunities that comes once a while in asset trading.

What Methods are best you feel for Price Prediction/Forecasting.

There are a whole lot of methods used in price forecasting or basically, we can say there are three main method used for price forecasting among which are:-

1. Technical Analysis
2. Fundamental Analysis
3. Sentimental Analysis

Technical Analysis

This method involves looking or considering the behaviour of price of an asset over a period of time and also the current price of the said asset. This method helps to analyse the price of the asset via the uptrend and downtrend also helps in the case of support and resistance when it comes to crypto currency.

Fundamental analysis

This method unlike the technical method, goes beyond checking of both past and present price list of a given asset. Here in this method, the whitepaper of the said asset is taken into consideration, more also it checks the performance of the company in question. They management team are all taking into consideration in this method.

Sentimental analysis

Here in this method, predictions are based on sentiments. People holding a particular asset can be sentimental while discussing the rise or fall of the said asset. Other users searching for information about an asset can find such analysis/assumptions on blogs, social media, news, friend's advice, and many more. It's important to mention here that not all prediction about an asset is true.

Which method is better?

As earlier discussed we have three method among which the first two are the widely used method. The both have proven to be very effective in trading though.
In conclusion, I will say that technical analysis is my favourite analysis as it has proven to be very useful and has been used for a very long time.

Take any Crypto Asset Chart graph and explain how to do Price Forecasting? OR Take any Crypto Assets Chart graph & as per its current price tell us what will be its future price for next 1 week or 1 month? You can predict for any direction up or down but explain it properly on what basis you have predicted the price.

In the above given chart you can see the market price of Bitcoin till this moment is failing but previously there was a tremendous rise in the price of the said currency. My prediction is that looking at how the candle stick is moving by this time next week, they will still be a serious rise in bitcoin. These is because if you look closely to the market cap last month been match it was almost same scenario that took place and hence I am predicting that the market price of bitcoin will definitely rise in a week time.

Conclusion

Finally, price forecasting of an asset is very important as it helps you to project a way to maximally take profit from the asset's market provided you are accurate enough with your prediction and it doesn't matter the methods you choose to use, it's only important to be sure of what you are doing. I sincerely want to appreciate in a more special way the professor @stream4u for this wonderful lecture, it's a great one and I look forward to learning more from the professor and other Steemit professors soonest. I have really learnt a whole lot from you sir.

Special regards;
Cc: @steemitblog
Cc: @stream4u
Cc: @trafalgar

Thank you for reading...