The trend in the market generally has been an interesting one and it has gotten everyone to talk about it, especially those in the crypto market. We are still very much in the bear market as at today even though some weeks back things seemed like they were getting bullish. Since Bitcoin is the lead crypto currency, it's movements is what is mostly used to determine the fate of so many other crypto currencies.
The market's movement is mostly in three ways...
Uptrend - when the market moves up, it means everything is becoming bullish and it's a safe time to sell than buy. Right now, we are still in the bearish season so it's very much safe to sell some tokens now especially for those who are in for the short term benefits.
Downtrend - This is the direct opposite of the uptrend. When the trend keeps going down, it means that the market is not favourable and it is a good time to buy more at this time. Selling at this time can be one of the poorest decisions to make but sadly we've seen so many people take this part either because of a necessary need or because of the fear of loosing everything.
Sideway trend - Just as the name, the sideway trend is the movement that shows that the market is neither going upwards or downwards. It just keeps dancing from left to right or from right to left. I've seen this trend a lot of times back then when I was learning how trading works but I never really understood it.
All of these trends are what you see in the market and the most common one is the sideway trend because most times we are always either in a bull season or a bear season. And as we can see even on hive, the token keeps dropping and sustaining a particular range for quite some time.
Some might be wondering why the market trend keeps fluctuating, well it's simple. The market is as it is now due to the level of supply and demand. When more people are willing to buy than sell a particular token or stock, it draws traffic for that token or stock and that is what is referred to as demand. While when a token is on constant sales than in buying, it often reduces the value of that token and that draws away traffic from it.
As a way of balancing the level of demand and supply, some projects have made it compulsory/necessary for some of the tokens or stock to be staked. Having some of these tokens or stock staked will reduce the level of selling and will encourage more purchase of whatever tokens or stock in the market. There is an imbalance trend in the market at the moment because despite the fact that the market is not so favorable, some people still sell what they want to.
This is as a result of the inflation in world economy, so many people are in need of finance that they barely even care about the rewards that they can benefit when they hold for long term. The more inflation we have the more dip we might experience but that is not totally certain because we are all hoping for the best.
That's all for today on the MARKET MOVEMENT. A great topic chosen by @tsunica for the challenge in the remaining days of the month of January starting today 22 of January 2024. And you also get the opportunity to win Inleo premium when you participate too.
🦁Thank you so much for reading 🦁
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STOPTo support your work, I also upvoted your post!
Thank you so much for the update 🥰
Wow, two badges in a row, that's awesome @hopestylist1! 🎉
Yeah, it's always so much fun here that I don't even know I've done so much already 😃
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The sideways movement I call crab action!
Great to see you learning terms and how things work BG!
Yeah, it does really look like crab action, hehe.
Thankyou so much BD, I've always seen these things but never really cared to know what they are called, thanks to this challenge I see myself learning a lot of things 🥰.
Good morning BD 🤗