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20th March 2023

Will cryptocurrencies find more widespread use?

Cryptocurrency can be defined as a read-only digital currency that uses a proprietary encryption and recording technology called blockchain. Blockchain regulates the creation of new currencies ("tokens") and is independent of central banks. A token, a digital asset that can be transferred between two users without external consent, is essentially a unique identifier with an associated set of access rights.

Bitcoin on Chain Analysis gain more wealth and value because they are very "thick" compared to previous "thin" protocols (such as HTTP for web pages) and because they cannot accumulate value. Value accumulation in the economic and applied layers. Blockchain protocols are "thick" due to their data link layer and encrypted "access" guess-value tokens.

The token will allow buyers to participate in the network and will also serve as an investment opportunity if the network becomes popular. Similar to how users participate in social networks and gain value from participating in them, tokens can also control how users participate and more evenly distribute the wealth that the network creates. Over time, the value of blockchain applications is expected to grow in absolute terms as space matures.

Why Is Crypto Market Rising?

Technical analysis deals with the study of financial markets to predict future behavior. Despite its limitations, this form of graph-based research is perhaps the most widespread today due to the pseudo-democratization of drawing tools and improved access to real-time information.

Technical analysis is a field of study used to predict the future direction of prices by studying historical market data. To achieve this, the method uses data indicating market price, volume, and open interest.

Crypto Coin Fundamentals use trading data and mathematical indicators to make trading decisions. The results of these formulas are automatically reflected in real-time updating charts that traders can interpret to determine the right time to buy or sell.

Bitcoin Technical Analysis has become possible to predict the direction of the price and has become one of the essential tools for predicting movements in the financial markets. The latter applies especially when technical analysis is combined with fundamental analysis. The combination of both types of analysis allows traders to assess the reality of the market fully. Thanks to this, traders get a clear advantage when making profitable trades.

Principles of technical analysis

Technical analysis has a set of pillars that support its effectiveness. When Charles Doe developed his theory, he summarized these principles as follows:

1. Discount prices on everything. This principle states: All information is included in the price. Political factors, wars, corporate earnings reports, social conditions in a country, etc. Everything is discounted in the offer. This means that its price reflects any local or global actions that may affect a particular security.

2. Markets follow trends. This is the situation that always happens without exception. As explained, assets trend until proven otherwise. It means; the trend of the value continues until the criterion's maximum or minimum value is exceeded.

3. Human behavior is repetitive. Under this precept, the technical analysis affirms that; unconsciously, price patterns are created that reflect this behaviour. Thanks to Crypto Analysis, its study makes it possible to predict future price movements since they are affected by the psychology of the related group.

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2nd March 2023

Technical Analysis of cryptocurrency markets

The study of market trends led to the development of technical analysis at the end of the 19th century. Crypto Trading Technical Analysis is specifically used to research financial markets using data, quotes, price patterns, and anticipated trends.

Technical analysis is exclusively mathematical and algorithmic and is always based on historical patterns and data, in contrast to fundamental analysis, which concentrates on the economic, political, and social background. Therefore, short-term positions and trades are better suited for this research.The open interest, which includes futures and options, the stock market volume, and the price or quotation, are the main sources of information to consider.

Importance of technical analysis

Technical analysis allows it to be applied in any area of ​​the financial market. It is precisely this versatility that makes it such a powerful tool. The only thing necessary to use it is to adapt to each market's characteristics and specific behavior. Cryptocurrency Outlook 2023 makes technical analysis a tool that is easily adaptable to the needs of financial analysts and traders.

Advantages

One of the main advantages of this tool is the ability to identify price trend signals in the market. This is a key factor of any trading strategy when trading. Thanks to this, investors can develop an appropriate methodology to locate entry and exit points in the market.

Another of its advantages is that technical analysis tools are very common and easy to use. They are so common that some believe they have created self-satisfying trading rules: Crypto Investing Strategy use the same indicators to find support and resistance levels, and more buyers and sellers will be interested in the same price points. , and the patterns will inevitably repeat themselves.

What do you need to buy and sell NFT?

Create a cryptocurrency portfolio.

Although some markets also accept bitcoin and bitcoin alternatives, NFTs typically require Ether (ETH) (Ethereum currency). Therefore, anyone who sells buys, or collects NFTs needs an Ethereum-compatible crypto wallet. This is not a problem since the largest markets are based on Ethereum. To create a wallet, use a Coinbase, Binance, or Crypto account.

Wallets are the prerequisite for carrying out cryptocurrency transactions. The crypto wallet identifies the buyer and seller and verifies crypto transactions. Crypto assets are not stored directly in the wallet. It is the private and public keys for crypto transactions that are stored. You can find a suitable wallet using the wallet finder on Ethereum.org. To find out if a wallet is compatible with a particular NFT market, check the corresponding market conditions.

Acquire cryptocurrencies

After creating a wallet, you have to buy cryptocurrency. To do this, it is enough to use a wallet or a trusted market for cryptocurrencies. Other well-known spaces are Gemini, Binance, Coinbase, and Kraken.Cryptomining transaction fees are also incurred when selling NFTs. On the Ethereum blockchain, these are called "gas fees."

Connect the wallet with the marketplace.

Next, you have to choose the right NFT marketplace. The best-known marketplaces are OpenSea, Rarible, Foundation, and Mirror:

Larva Labs/CryptoPunks

AtomicMarket

FTX

Nifty Gateway

Binance

SuperRare

AtomicMarket

BakerySwap

Once the market is determined, the wallet must be connected. Depending on the platform, the process is carried out using the "Create" or "Connect Wallet" commands. A QR code is then used to establish the connection for sales and transactions.

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