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Pharmacist 💊 | Crypto enthusiastic & Technical Analyst 📈 | Balancing pharmaceutical studies with the dynamic world of cryptocurrencies. #Crypto # Pharmacist
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Bitcoin Dominance and How to use Bitcoin Dominance in Crypto Trading? 


What is BTC Dominance?
$BTC dominance is an important measure in the cryptocurrency market. Bitcoin dominance shows us how much of the total money in the cryptocurrency market is in Bitcoin compared to all the other cryptocurrencies combined.
Factors influencing BTC dominance
Several factors can affect BTC dominance. Market sentiment is one; good news and strong investor confidence in Bitcoin can boost its dominance, while bad news can lower it. The performance of other cryptocurrencies, or altcoins, also matters; if altcoins do well, investors might spread their money across different coins, which can reduce Bitcoin's share of the market. Technological advancements in Bitcoin, like important updates or improvements, can make people more confident in Bitcoin, increasing its dominance. Regulations play a role too; clear and positive rules can encourage investment in Bitcoin, while unclear or restrictive regulations can have the opposite effect. Finally, market cycles impact dominance; in bull markets, altcoins often gain more, reducing Bitcoin's dominance, while in bear markets, investors may prefer Bitcoin as a safer choice, increasing its dominance.
How to use Bitcoin dominance in trading
Traders can use BTC dominance to help shape their trading strategies in a few ways. By watching BTC dominance, traders can decide when to invest in other cryptocurrencies (altcoins) or when to focus more on Bitcoin.
If dominance is going up, it might mean that investors are being more cautious and prefer sticking with Bitcoin.
If dominance is going down, it could suggest that investors are more willing to take risks and invest in altcoins.
BTC dominance can also help traders figure out when to buy or sell. For example, if BTC dominance is rising, it might be a good time to invest more in Bitcoin. If it’s falling, it could be a sign to look into altcoins for potential opportunities.

BTC Dominance Binance Academy

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Dogecoin (DOGE) Price Predictions: Short-Term Fluctuations and Long-Term Potential

Analysts forecast short-term fluctuations for DOGE in August 2024, with prices ranging from $0.0891 to $0.105. Despite market volatility, Dogecoin's strong community and recent trends suggest it may remain a viable investment option.

Long-term predictions vary:

- Finder analysts: $0.33 by 2025 and $0.75 by 2030
- Wallet Investor: $0.02 by 2024 (conservative outlook)

Remember, cryptocurrency investments carry inherent risks. Stay informed and assess market trends before making decisions.

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Thanks for joining the AMA today! 🙏 I’m humbled by the strong support & passion that #Binance receives.

Our achievements over the past 7 years have only been possible because of you. And we are determined to keep building so that we can continue serving you for decades more. 🚀
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Basic Crypto Strategies you need to know in 2024.
Crypto trading is the act of buying and selling cryptocurrencies to make a profit. People trade these digital currencies on various online platforms, hoping to take advantage of price changes. Just like trading stocks, the goal is to buy low and sell high. People buy cryptocurrencies in pairs of a stable coin, which has a value of $1. 
There are multiple strategies traders use in crypto to earn bucks. to list a few.
The most popular one is hodling. in which you hold your strong project coins for a longer-term prospective to sell them at a much higher demanded price.
scalping: this is a strategy traders use for quick momentum swings in different asset classes. To maximise the gains of these scalp trades, traders use high leverage and close their trades with small targets. Scalping is usually done in lower timeframes (mostly in 1 hour, 15 minutes, and 5 minutes timeframes).
Swing trade: Swing trading is a strategy where traders buy an asset and hold it for a few days or weeks, aiming to profit from expected price movements. They look to capture "swings" in the market by buying low and selling high within that time frame.
Range trading: This is a style popular in SMC (smart money concepts). In range trading, people aim to profit from the asset’s price fluctuating between the lows of a range and highs of a range. The range is usually drawn with the help of a support and resistance indicator; for best results, people usually draw in a higher timeframe.
Arbitrage: Arbitrage in crypto is basically a strategy used by traders to gain profit from the difference in price of an asset on different exchanges. People buy an asset at a lower price from one exchange and sell that same asset at a higher price to another exchange. This strategy requires quick execution and understanding of exchange fees and transfer times.
Demand and supply trading: It is a strategy in which traders find the balance between buyers and sellers. When the demand is high (buyers are in high numbers), the price of an asset tends to go up; when the supply is high (sellers are in high numbers), the price of an asset takes a drop. Traders look for areas where demand and supply are strong and make trades based on the expected price movements from these levels.
There are some key rules to follow in trading.
1.) Stop loss: Stop losses are used to protect our investments from greater losses. A stop loss is set to sell an asset when price drops at a certain level, helping the trader to minimise the losses.
2.) Dca: dollar cost averaging is averaging your total cost of a certain asset. Suppose you bought bitcoin (BTC) at $60,000 and it dipped to $40,000, and you bought it for the same amount. The simple mathematical equation for averaging will be applied and will bring your total cost to $50,000.
3.) Limit Orders: Mostly traders use limit orders to buy or sell their assets at their desired price. This gives a trader more control over their trades allows them to maximize their profits and minimize their losses.

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Happy 7th year anniversary Binance!!

210m users in 7 years. This achievement is only possible because of your trust and support. Thanks for standing by us through the ups and downs. We have emerged stronger with every challenge.

We will continue to bui7d the best and most trusted global crypto platform to support you in your journey. We are still early in the crypto cycle and the best is yet to come.

Keep bui7ding! Be Binance!

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