Market Snapshot - February 16th 2018
Top 10 Cryptos
At the moment of writing all top 10 assets were mostly in red, correcting after 3 consecutive days of growth.
Today is the Chinese New Year, so, if we were to believe last year stats, we should see mostly green from now on.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $4.48 on Coinmarketcap, slightly down from yesterday.
On Bittrex, the 30 minutes chart shows another 2k satoshi descent, from 44k to 42k.
The 1 hour chart shows a consistent, albeit slow downtrend.
The 1 day chart confirms the triangle pattern breakdown, and the next resistance level, 40k satoshis, will tell us if we bounce or keep diving.
SBD was trading, at the moment of writing, at $5.62 on average, exactly as yesterday. The 30 minutes chart on Bittrex shows a failed attempt to pierce through 55k satoshis, followed by a correction down to 52k satoshis
The 1 hour chart shows a similar consistent, albeit slow downtrend as for STEEM.
The 1 day chart shows 2 consecutive small red candles, breaking down the resistance level to around 52k satoshis.
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, you could buy 1.257 STEEM with 1 SBD, up from yesterday and the parity continues to be broken.
Overall opinion: STEEM and SBD are depreciating slightly in Bitcoin, but hold on their value in fiat, while the market seems to be in expectative. More news / movements should indicate a clearer trend after the weekend.
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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Sort of expected this after these 3 to 4 days of amazing market recovery, especially for Bitcoin. I think this image below represents the feeling of every crypto trader around the world right now!
I guess they are still in the celebration mood. We should probably see a positive trend soon.
When I observed Bitcoin rising yesterday, I was expecting SBD and Steem to rise too but it never happened.
Usually, when Bitcoin raises, value flows from alts into Bitcoin.
Hmmmm, it's interesting to see SBD breaking further into a higher price than Steem. I don't know how this happened, maybe unpegging has an interesting background.
I'm very happy that things keep recovering :) I've invested my last 3 months in solely cryptocurrencies, so seeing them in constanty red was a bit discouraging. I know they're still in red but damn, they're selling for a much higher price than last week!
somebody needs to learn the subtle similarity between "discouraging" and "opportunity" ;)
:( You're right. I'm very FUD-vulnerable.
Red? Oh noes I'm poor sells everything.
Green? Oh noes FOMO I'm being left out! Buys at ATH right before the dump
I need to fix my mind to have more chances as a crypto investor. Thanks for the advice.
I think the market is just taking a bit of a breather during this recovery. There's a good chance it will continue rising after Chinese New Year is over.
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Hello@dragosroua, I 've already resteem and upvote, I trust this completed survey and good report about market bitcoin and other digital money. Weldone . thank you.
I think Aggroed? posted that sbd surged because bitcoin was rising.
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