Top 10 Cryptos
At the moment of writing, top 10 cryptos were all in red, all posting double digit losses.
The blood bath is so pervasive that it's hard to isolate a pattern or analyze a single asset or a group of assets. Seems like a (voluntarily or involuntarily) coordinated sell-off.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $3.58 on Coinmarketcap, significantly down from yesterday.
On Bittrex, the 30 minutes chart shows a sharp upswing a few hours ago, probably generated by a similar SBD upswing (see below).
The 1 hour chart shows clearly that 6 hours ago a pump stroke, but it was very short lived and price is literally back where it was before that pump.
The 1 day chart shows a persistent downtrend pressure, with a potential support line around 43-44k satoshis.
SBD was trading, at the moment of writing, at $3.17 on average, significantly down from yesterday. The 30 minutes chart on Bittrex shows a clear attempt to drive the price up, on relatively high volume, but very short lived.
The 1 hour chart shows interest for an upswing but insufficient bull power.
The 1 day chart shows the fifth consecutive red candle in a row, canceling the odds for a sudden reversal.
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, you could buy 0.879 STEEM with 1 SBD, slightly down from yesterday and well under parity.
Overall opinion: The global sell-off gathered a lot of momentum and, for the time being, STEEM and SBD are caught in this whirlwind. I would be very cautious with any prediction / speculation for the moment.
Disclaimer: I'm not a trader and this is not trading advice. I'm writing these articles for my own educational purposes and they are not meant as an investment foundation. Please make your own due diligences when investing and never invest more than you can afford to lose.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
@dragosroua
Just question rising in mind..
Why the steem price keep changing on various exchanges? Altho steem is one
Was thinking of buying from one and sell on another🤔
it's called demand and supply
that's usually called "arbitrage" and it's a common thing, many traders do it
Ohh.. Ty for reply and expl
Figures this would happen after I quit my second job and thought I could supplement income with SBD :D
Oh well, here's hoping it'll bounce back by next month.
Anyone caught in the frenzy of mad selling especially at a loss are just plain idiots. If anything if they can they should be consolidating into the position so they can sell of at profit much sooner than they actually paid for them. I really don’t understand this. Like you say @dragosroua most likely a manipulation of the market by some big fish.
No prediction can me made at the moment because it is very hard to guess what will happen next, but I think the downwards trend would continue for a while longer, I hope to be wrong though.
From a chart perspective there's no support for bitcoin until it reaches around $6,000, so right now that's the level I have my eye on. Glad I'm all in fiat and Steem right now.
Once again, thanks for the update! Hopefully, we will have a sea of green after 16.02.2018! Have a wonderful day @dragosroua!
Thanks, but what's the thing with 16.02? New Lunar Year? :)
Yes!
Sadly it doesnot look like it will bounce back soon. Even the mining revenue has come down on nicehash by almost 25%. This is seriously terrible. Looks and feels like a conspiracy or something from governments. I wonder who these people could be who are willing to sell their bitcoin at these low price.
It was fun while it lasted, to get 7 Steem from 1 SBD. Now both of them are going down a bit. Well... back to our normal lifes I guess :))
Wow!
Caution is the wise move indeed.
For a lot of people, this dips are scary, but for me, I just remind myself that when I joined Steem, the price of SBD and Steem were 1 USD each.
Furthermore, I have faith in the platform and seriously think that it will grow much larger.
I'm here since it was 15 cents.
I like that you don't give any expectations because all we can do is observe and in the meantime do meaningful things like writing, spelling and creating things from scratch.
Thanks for sharing.
I'm kinda liking the ability to buy Steem at such a "discount". I got 20 more this morning for 3.68 a pop. Like money in the bank, but way way better!
Looking forward for a better week, the average now is two red days one green days!!!
We must remember that the market is irrational does not follow logical rules, if not, the expectations and fears of its holders.
That's why it's impossible to predict, we can have some estimate but that will be an only estimate
For me it's like a big nervous investor purge that at any moment will have to stop.
In my particular case, I'm just getting to know the high sensitivity of the crypto currency market, I have to take it easy and be attentive to your information.
Hopefully the USA bond market stabilizes today. It's not just cryptos that are going down.
This post is very interesting friends, friends upvote my post @dedikurniawan
thanks for your interesting post..hope that all kinds of people like it..so thanks again...keep it up
It's a rough one to speculate at the moment.
Steem is doing great even at this time makes me really happy :D
if we buy SBD at this time, it can provide x3 profit.