Explain in your own words, the concept of Dominance in the world of cryptocurrencies. What is the dominance of Bitcoin at the time of performing your task? (Present at least 1 graph)

to understand the Bitcoin dominance let's first understand what is dominance this is very easy dominance is the control of something on another thing in this case I will talk about country's so that country will be dominant which has more money and which has more Army that country will be e dominant on the other countries and as soon as is the country e goes to reception for or become poor it will lose the dominance over other countries

cryptocurrency dominance is how much of a capital one coin is holding from the over all market of cryptocurrency let's suppose the total market value of cryptocurrency E I mean the total market cap of cryptocurrency include all coins let's suppose that is $100 now if a coin hold 60% of the total market then their coin will be dominant in the market over all other coins and if a coin I have 15% of the total market cap which is $15 then it has the dominance of 15% over the market now in the beginning Bitcoin was the only cryptocurrency so the dominance of Bitcoin was 100% and slowly when other coins came into the market people started investing in those coins as well and that is why Bitcoin started to reduce the dominance now all other coins has some percentage of dominance in the market some coins have 15% some coins have three some coin have less than that so how much market cap does a coin hold from the total cryptocurrency market that is how we measure dominance in cryptocurrency

dominance of Bitcoin right now

As you can see that Bitcoin dominance is going down and down by looking at the chat we can see that the dominance of Bitcoin was very high at the beginning even now Bitcoin is the highest dominance in the total market capitalisation of cryptocurrency market right now the dominance of Bitcoin is 44.81% Ethereum has the second highest dominance level in the cryptocurrency market and then there is binance coin

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Mention at least 2 times where the market had strong falls, mention several affected currencies. (Use screenshots)

#1

btc has a big dip in the price on the date of march 14th 2020 as you can in the graph the price was about from 19k nusd$ to 15k usd$ which is a big dip

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now we will look at the all the coins which ware effect nby this dip for his we will look nat the coins from the same date that we can do by going to the

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After looking at the analytics as we can see that there are more coins affected by the price of BTC the first coins are ethereum binance coin and xrp and if you look down there are more coins which are affected by the prices and the dip of PTC

#2

the BTC has another big dip on the date of April 17th 2021 the price fail down from 60k usd $ to 49k usd $ which is a big fail

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Education see in the graph the BTC has gone down in price value and with that BTC has affected itarium it also lost its value and the price has come down upto 4.60% and if we look at the binance coin it has also come down invalue about 7.57%and here are many other coins which ware effect by this

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What is the Altcoin Season?

altcoin season comes when investors take out money from the Bitcoin and put it into the altcoins it can be any coin and when altcoins increases in value in price and when it increases the total market capitalisation of it basically when the dominance level of Bitcoin goes down all the altcoin goes up currently as we see all the earth coins are increasing in the percentage of total market capitalisation and the dominance of Bitcoin is coming down which clearly indicate that this is an art coin season there are more ways to find out if this is in altcoin season or not they are slightly technical but this is the easy way whenever people start to invest in altcoins that is altcoin season

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If you want to know no there is an altcoin season coming or arrive you can go to the website name blockchain centre and as you can see it says that altcoin season is here

Give a brief description of at least 2 altcoins that are in the TOP 50.

Binance coin

as you all know the popular cryptocurrency exchange which is binance so where you can change all your coins into other currencies but it's not just an exchange they also have a coin which is binance coin you can do trading in this coin just like other coins like BTC Binance coin is going really popular these days since last one year it has increased more than two hundred percent in value in the beginning of 2020 the price was about $18 and now it's more than $600 so it's increasing really fast in value and the current rank it holds on coinmarketcap is about 3rd rank which is the most popular altcoin now in the market

Ethereum coin

it is one of the best and popular old coin of all time after Bitcoin this is the most popular coin among all the cryptocurrency traders and it comes number 2 on the coinmarketcap rank this coin is based on the ethereum blockchain technology There are only a few difference from Bitcoin because this was the second most popular coin after Bitcoin and the blockchain is also different from Bitcoin most of the coins after Bitcoins they are based on the same blockchain but it idiom has its own blockchain with many differences Ethereum uses smart contracts to guarantee a transaction Smart contract has been the best thing about it is a platform and there are many projects built on this method

How can relevant news influence the price of cryptocurrencies in a positive or negative way? Name at least 3 examples. (Use screenshots) (Example: SENSO announced a 70% token burn, in a week the price increased more than 100%)

1

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February 4 2021 venue lawn mask tweeted this on his Twitter handle and since then everyone started to believe that dogecoin will increase and value and that happened dogecoin was a pretty penny cryptocurrency and in a very small duration of time it increased to a very good prize and currently holds number IV domination on cryptocurrency market whenever something like this happens that coin increase in value so after that we eat the dogecoin was increased in value very good

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This one is very interesting because this is something that has never happened before so what happened is Elon Musk added Bitcoin to his Twitter bio and when people so that in that news came into the market Bitcoin was very high in value people started to invest in Bitcoin because Elon Musk has a very good influence and people follow him so so that really help Bitcoin to increase in value

3

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As you all know that is a big company and Elon Musk is a very famous and big influence over the people and when he tweeted that you can buy Tesla which is a car company you can buy Tesla with your Bitcoin which is a cryptocurrency and it has never happened in the history that gave a big boost to Bitcoin and Bitcoin was very high after that wheat in value so it helps a lot if there is a positive news about cryptocurrency it helps the cryptocurrency to increase in value

Describe one of the following Penny cryptocurrencies:

This cryptocurrency is an experiment Decentralized community building shiba token is the first token Which allow users to To hold billions of Shiva tokens with them This is a erc 20 token shiba token is the first taken listed on shiba swap Decentralized exchange

Shiba token is very popular among the traders and many people are investing in this coin people call it the dogecoin compare creta and people predict that in a very less time this coin will throw dogecoin in the price value and in the market capitalisation as you all know that dogecoin is under top 10 ranking of market cap

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Happy look at the market detail this coin is currently rank is number 20 the coinmarketcap which is a very good rank for penny cryptocurrency And this happens in just span of few months currently many people are investing in this coin and they think that it can be the next Roj coin and may be greater than that

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