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The first thing in trading is for how long you want to hold or you will sell immediately ? Ask this question every single time. And Be disciplined You may get Losses but one day you will be in Profit.
This is just my point of view. Express your opinions in comments.
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*Basics of crypto* DEMAND AND SUPPLY Whether you're a consumer, producer, or investor, understanding supply and demand can help you make better decisions. ๐ By understanding this fundamental concept, you can gain a better appreciation for how markets work and how prices are determined. ๐
Understanding Supply and Demand Helps Us: Predict price changes: Knowing the factors affecting supply and demand can help us anticipate price movements.
Analyze market trends: By analyzing supply and demand trends, we can identify potential opportunities and risks.
Demand Definition: The quantity of a good or service that consumers are willing and able to purchase at a specific price.*
Supply Definition: The quantity of a good or service that producers are willing and able to offer for sale at a specific price.*
Factors Affecting Supply and Demand:
Demand Factors: -> Consumer income -> Consumer preferences -> Consumer expectations -> Population size and demographics etc
Supply Factors: -> Cost of production -> Technology -> Number of suppliers -> Government policies (taxes, subsidies) -> Natural disasters etc
NOTE: whenever Demand of a Coin increases (everyone wants to buy it) and Supply is limited. Price will increase.
Vice versa to this
when Supply is More than demand than everyone wants to sell but no one wants to buy so prices will decrease.
For example: Bitcoin Demand is high in the market as compare to Supply Thats why bitcoin Price is more than other coins.
Hope You understand the concept Of Supply and demand. Follow me for more Free Profitable signals and to learn crypto from very basics. Thanks
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Disclaimer: This is not financial advice do your own research.