Hello
So, for a bit, I thought of sharing my knowledge here (even if I'm new here) so as to carry the beginners along. This might come in handy for most of us.
So, I'll be going down to the very BASIC.
What's cryptocurrency?
It's a decentralized encrypted exchange unit.
Right.
It's transactions are visible through a decentralized ledger (Blockchain)
How can you tell which cryptocurrency will go up ?
Truth is, there's no clear cut out way. But there are laws that if followed, you can make predictions. Good ones.
The law of demand and supply can help you understand how the prices of crypto changes.
Demand: The higher the demand, the higher the price. Quite simple, crypto platforms releasing better utilities to attract users leads to value rise.
Supply: The more the units of crypto, the less valuable they are in units. If a cryptocurrency is readily available in bulk to the public, the value drops.
Scarcity is value😅
Look at it this way; bywhen supply grows faster than demand, the currency falls, and when demand grows faster than supply the value appreciates.
So, I'll talk later on about ways to make predictions on cryptocurrency rise. Apply the rules and make accurate predictions.
This is all basic knowledge and good your referring to newbies, I think you should go around and see other quality post on the board and see how they are constructed, you have a good idea and I think if you don't improve on your post you won't make any progress here, and I think it's better you ask questions about the forum unless you must have done that already,
It's good to be enthusiastic and try your best to give your best. Good luck