Steemit Crypto Academy Contest Season 11 Week 04 - Cryptographic News And Events

Introduction

We are already in week04 season 11 of the Steemit Engagement Challenge and we believe you are so excited and always ready to participate with us. We solemnly welcome y'all into this week's engagement challenge and we bring to you our contest for the week. We hope you will all love it

Cryptographic News And Events

As crypto traders, analyst, investors, we have seen how news have been affecting the crypto marked in so many ways. News such as conflicts, war , economic instability and top social media influencer have great influence on the price of crypto price. Years back, we can recall how Elon musk's tweet cause the price of doge coin to rise and later it depreciated hecne showing that cryptocurrency market can easily be manipulated by top influencer or top investors

Crypto functions just like the traditional Fiat currency which can also easily offers to pay for goods and services hence also compensating workers for their labor. The value of crypto currency is always determine by demand and supply. It always gains value when demand exceed supplies

For the supply mechanism, it is always known through many ways such as burning of currency and so on. The demand mechanism always increases mostly when a crypto token gains Utility or when the entire project gains awareness. Let's look back at 2021 when institutional investors bought alot of Bitcoin hence making the price to increase significantly because demand was too high hence giving a chance for new coins to be created. All this are cryptographic events which occur in the year 2021 as Bitcoin skyrocket the crypto marked hence forming an all time high

After going through this topic thoroughly, we will like you people to answer the following questions... It is always advisable to make proper research and go through our topics well before answering our questions in other to gain maximum scores

What is Expected in the Contest?

• Can news affect cryptocurrency prices?

• Between technical and Fundamental analysis, which affects the price of an asset most ?

• Events such as Selling of coins massively, The burning of coins, creating new tools for a blockchain, among others. Does it affect the price of cryptocurrencies? If yes then explain and give us examples

• Investigate about a news that affected the cryptocurrency market

• Can crypto market be manipulated? Give your understanding on this

Contest Guidelines

• Post your articles in the Steemit Crypto Academy community. The participation time is between Monday, August 14th, 2023, 00:00 UTC to Sunday, August 20th, 2023, 23:59 UTC.

• The article should be at a minimum of 500 words. You can write more. Your article must be free of any form of plagiarism.

• Your article title should be Steemit Crypto Academy Contest / S11W04 - Cryptographic News And Events . Add the tag #cryptoacademy-s11w4 and other relevant tags.

• Participants must be appropriately following #club5050 or #club75 or #club100.

• Participants must be verified and active users on the platform.

• The community moderators would be leaving quality assessments on your articles and probable upvotes.

• In addition, your article must get at least 10 upvotes and 5 valid comments to count as valid in the contest, so ensure you interact with other users' entries. Do not be involved in vote-buying.

Rewards

• SC01 would be checking on the entire 7 participating communities and upvoting outstanding content. Upvote is not guaranteed for all articles. Kindly take note.

• At the end of the week, we would nominate top 3 users that had performed well in the contest and they would be eligible for votes from SC01/SC02.

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Important Notice: The nomination of the top 3 users in our community is not based on good grades alone, it includes their general engagements (quality and quantity of their interactions with other users' articles) to measure the overall performance. Also note that generally, you can only make one post per day in the Steemit Engagement Challenge.

Conclusion

After going through this topic, we will now like to hear from y'all your understanding of the topic. So we hope everyone will have good information about this topic.

Please always remember to stay original and give in-depth analysis to all the required contest questions