THE DIGITAL CURRENCY PRICE VALUE MOVEMENT IN THE CRYPTOCURRENCY MARKET

Hello to everyone in this great community and in the steemit platform entirely. I greet you all in good spirit and I want to believe that we all are doing just great today and if so we give God the praise for the sustenance of life and good health.

Today I am here with another wonderful topic so that we can discuss and share ideas and it is titled THE DIGITAL CURRENCY PRICE VALUE MOVEMENT IN THE CRYPTOCURRENCY MARKET.

Lately we have been talking about the cryptocurrency market trading and today I deemed it fit to discuss with you all the understanding of the cryptocurrency market trading and I know after this discuss we all will gain more knowledge regarding the cryptocurrency market trading and how it works. In that light I urge you all to stay put as I begin the discussion for the day. I wish you a happy reading!

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Before the evolution of the cryptocurrency, the traditional approach regarding trading was done through a method of trade by batter. This is seen as the scenario by which a business transaction is carried out through trading an asset for another asset.

After which the conventional method of trading came into existence which is refer to as the legal tender. The legal tender is the conventional currency and each country has her own currency that is being used to make transactions regarding buying and selling of items and making profit.

The evolution of the cryptocurrency brought about the trading of various cryptocurrency asset and that is how the trading began. Just like the conventional market that you need to know what you are purchasing and selling and also how to go about your trade, the cryptocurrency market trading is not exceptional.

THE DIGITAL CURRENCY MARKET TRADING

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Trading of cryptocurrency assets in the cryptocurrency market entails more than just knowing the assets to trade but also understanding the market movement and how it operates. When a trader knows or understands the activities in the cryptocurrency market it is always easier to make good decisions regarding execution of trade entries.

Knowing how to manage your risk and reward is essential and this is carried out through understanding of the market activity and also making a fundamental chart analysis regarding an asset you wish to trade in the cryptocurrency market.

It is important to understand the activities of the cryptocurrency whales too as they are the largest holders of cryptocurrency asset and they determine the market movement of most cryptocurrency in the trading market. The use of fundamental analysis is to see the activities of the market which is caused or controlled by the whales in the cryptocurrency market.

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Larger holders of cryptocurrency assets know as the whales dictates the price of assets in the cryptocurrency market and as such the market only obeys the rules of the whales. This explains the reason why an asset price could rise as a result of high purchasing power by whales in the cryptocurrency market or a fall in price as a result of high dump regarding a cryptocurrency asset by the whales.

Getting a full understanding regarding how the market operates is very essential and this is done by understanding the activities of the larger holders of cryptocurrency asset known as the whales.

Before trading in the cryptocurrency market, it is essential to also check your chart and see what is happening in the cryptocurrency market regarding cryptocurrency purchasing power against selling power to know the kind of trade you are expected to execute in the cryptocurrency market trading.

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CONCLUSION

Understanding of the cryptocurrency market trading is very diverse and is crucial to understand so as to know how to execute trades and also to curtail risk and increase reward when trading your assets in the cryptocurrency market. Knowing how the cryptocurrency market trading alongside the whales activities in the market is essential as though this will help you to minimize losses while trading.

I will have to drop the pen here for today. Thank you all for taking your time to read from me and I hope this discussion was beneficial to you all. I will be here in due time again and bye for now!