When a price is agreed upon between a buyer and seller, the trade is executed (via an exchange) and the market valuation for the asset is set. This is to give the trader a quick indication of the state of the market at a given moment. Conversely, when more people are selling than buying, the price goes down. For the most part, buyers tend to set orders at a lower price than sellers. In many exchange interfaces, buys and sales are represented in different colors. This creates the two sides of an order book. When there are more buy orders for crypto than sell orders, the price usually goes up, as there’s more demand for the asset.
Marketing that does emerge from a protocol over time.
This is not to discount the branding. This quality of a crypto trade can be seen as the manifestation of a project’s technical specifications. It’s worth mapping out the stakeholders: the developers, block validators, merchants/companies and users. Despite what is written in white papers or presented at conferences, what is the actual physical manifestation of the protocol in question? In fact, a comparative analysis of the marketing efforts of core developers, corporations, foundations and community members can provide a detailed overview of how certain players communicate value propositions to the masses. Marketing that does emerge from a protocol over time. Additionally, it is crucial to understand who the stewards of the network are, their role in securing the network (mining, validation), and how power is distributed among these stakeholders.
Many cryptocurrency traders use support and resistance levels to bet on the direction of the price, adapting on the fly as the price level breaks through either its upper or lower bounds. Once traders identify the floor and ceiling, this provides a zone of activity in which traders can enter or exit positions. If the price surpasses these barriers in either direction, it gives an indication of the market’s overall sentiment. While the static support and resistance barriers shown above are common tools used by traders, the price action tends to trend higher or lower with barriers shifting over time. This is an ongoing process, as new support and resistance levels tend to form when the trend breaks through. Buying at the floor and selling at the ceiling is the usual standard operating procedure.
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Hence, a healthy, transparent discourse within the community is welcome. By diligently assessing the protocol stack of a cryptocurrency network along with the monetary policy enforced by the protocol, a trader can determine if such features support a potential investment. Not to be confused with market technical analysis, the core technical specifications for a crypto asset include the network’s choice of algorithm (how it maintains security, uptime and consensus) and issuance/emission features like block times, the maximum token supply and the distribution plan. While Bitcoin’s intended use case upon its launch was electronic money, developers and entrepreneurs have not only discovered new use cases for the Bitcoin blockchain but have also designed entirely new protocols to accommodate a wider range of applications.
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