Crypto Life Academy

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Support level and resistance level Today’s post is serving up a little bit of trading theory, so let’s discuss two important concepts. “Support” and “resistance” levels are key terms in the cryptocurrency market. A support level is a price point where a coin’s rate falls but cannot break down. That is, investors consider this point attractive to buy the asset and, thus, stop its fall by actively buying. A resistance level is a price point that a coin’s rate is hitting but cannot overcome upward. Because investors begin to sell actively, and the price goes down. Analyzing these levels helps to predict further price movements and form a successful trading strategy. 🎓 Life Academy | Business Tips 💳 | Success Goals 📊 | Crypto 1️⃣

What determines the price of crypto currency? The price of cryptocurrencies, just like many other assets, is determined by the interplay of supply and demand. ⭐️ Supply: Some cryptocurrencies, like Bitcoin, have a capped supply, meaning there's a limit to how many will ever be created. This scarcity can drive up the price if demand stays the same or increases. ⭐️Demand: This refers to how much interest there is in buying a particular cryptocurrency. Several factors can influence demand, including the perceived usefulness of the cryptocurrency (its utility), whether it's being adopted by more people and businesses (mass adoption), and overall market sentiment. ⭐️ Competition: The emergence of new cryptocurrencies can affect the demand for existing ones. ⭐️ Regulation: Government regulations on cryptocurrencies can impact investor sentiment and participation, thus affecting prices. ⭐️ News and Media Coverage: Positive media attention can increase interest and drive up prices, while negative press can have the opposite effect. Remember, the cryptocurrency market is still relatively young and can be quite volatile. The factors mentioned above can cause crypto prices to fluctuate significantly. 🎓 Life Academy | Business Tips 💳 | Success Goals 📊 | Crypto 1️⃣

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What is cold wallet? 🎓 Life Academy | Business Tips 💳 | Success Goals 📊 | Crypto 1️⃣

How often Bitcoin died? 🎓 Life Academy | Business Tips 💳 | Success Goals 📊 | Crypto 1️⃣

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