Hello steemit community!

I hope you all are doing well.I have read the lecture by @stream4u and found it helpful and productive so lets get to its homework.

Source

Q1:What Is Price Forecasting?

It is basically predicting the future price of any asset.How it will perform in future whether the price of any asset will rise or drop.We predict for the purpose of investment keeping in view many factors.Price prediction is helpful in long and short term investment.Usually this practice is followed by cryptocurrency traders before buying or selling any asset.

Q2:Discuss on why Price Forecasting is needed?

The main purpose of any investment is profit and everyone wants to earn profit quickly and no body wants to invest and forget about its investment and wait for a long time to make profit.
Price forecasting makes it easier for investor to predict when the price of an asset will increase and when it will drop. So at the right time we can buy an asset and just at the predicted resistance line sell that asset and that profit can be utilized in next buy. In this way we can do multiple trades in a specific market trend rather than a one time taking trade.

Q3:What Methods are best you feel for Price Prediction/Forecasting.

Price forecasting can be done on the bases of three analysis.

Technical Analysis

It can be predicted keeping in view the market trend (upward or downward),price,chart analysis support and other factors.Present and past performance of an assett is taken into consideration and analysed deeply. It plays important role in a successful prediction.

Fundamental Analysis

In this current performance is not taken in consideration.Instead its backgroud is analyzed its company,managment,company's new products and how those products perform in the market, company's balacesheet these are the factors which are taken in consideration while predicting.

Sentimental Analysis

In this prediction is made on the bases of hearing from some source it may be your friend,news,social media etc.If some business tycoon or company tweets in favour or against any coin its value will be predicted accordingly.Basically any influential person/company talks positive/negative about any coin prediction is made according to it.

Among these all three analysis i think technical and fundamental analysis methods are more suitable.As current market knowledge and its past performance study is good for a short term investment and is followed by mostly day to day traders.and fundamental analysis is good for the long term investment.For the sentimental analysis it is for the short period and its volatility is a problem.

Q4:Take any Crypto Asset Chart graph and explain how to do Price Forecasting? OR Take any Crypto Assets Chart graph & as per its current price tell us what will be its future price for next 1 week or 1 month? You can predict for any direction up or down but explain it properly on what basis you have predicted the price.

I am choosing XLM/USDT to discuss and how its prediction can be made.we can view its graphs of its past variations(one day,three day,one week,one month and many others) on binance.com.I am here attaching few graphs.

Now from the above graphs of past one day,one week past trend of the price of coin can be noted and by keeping those in mind resistance line and support lines can be drawn and future predictions can easily be made.And an investor can buy at the support line and can set target where he can sell the coin.

Conclusion

I will conclude this by saying price prediction is very important before making an investment.it makes an investment more efficient.After taking this lecture I understood the true meaning of prediction,the methods of prediction how it is made.before this lecture I had little bit knowledge of technical but after this lecture learnt all methods in detail.By investing in a good predicted asset one can make more profit in less time period.

That is all from my side.I hope I have justified my points.

Thankyou.