Market Snapshot - February 22nd 2018
Top 10 Cryptos
At the moment of writing all top 10 assets were in red, posting smaller losses than yesterday.
Seems like the "blood on the streets" is cleaned up, slowly, but steadily. All crypto assets are experiencing a hard landing and trying to find a support line.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $3.65 on Coinmarketcap, down from yesterday.
On Bittrex, the 30 minutes chart shows significant volume on the downside, but the trend line is not very steep..
The 1 hour chart is confirming the downwards pressure.
The 1 day chart suggests a slow down of the sell-off: two consecutive red candles but very small each:
SBD was trading, at the moment of writing, at $4.38 on average, significantly down from yesterday. The 30 minutes chart on Bittrex shows a continuous correction down to under 40k satoshis
The 1 hour chart confirms a steeper downwards pressure for SBD (than it is for STEEM, that is).
The 1 day chart is almost identical with STEEM's but given the smaller volume, I consider the bear trend to be more plausible.
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, you could buy 1.208 STEEM with 1 SBD, significantly down from yesterday and the parity continues to be broken.
Overall opinion: Markets seems to counterattack the bear trend, and look to find support. STEEM and SBD are continuing their trip down. In the absence of significant news regarding development (or other positive news), I expect the trend to continue.
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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The roller coaster goes up, the roller coaster goes down. But at the end of the ride, those who got on usually enjoy it.
Thats true
Hope they find the support line soon, good time to convert SBD's to STEEM!
Yes buddy sometimes it goes up and sometimes it goes down but all will be benefited at end
It is so strange to keep seeing red markets continue after such a great run in the second half of last year.
I cant wait for steemit to take off this year and then steem and sbd will moon, Its going to happen sooner or later.
Alt's are way down totally in red good time to do trade i guess :D
@dragosroua
All part of the natural cycle, although i would prefer it perpetually rising, but i also know thats only in never never land :) lets hope we meet the support we need for the next rise soon.
The difficult landing will not stop the Cryptos from landing safely eventually.
"The blood in the street" will soon be mopped dry. I am very optimistic about this.
I remain a great ambassador of STEEM so I still believe STEEM will do better than them all.
Thanks for this analysis @dragosroua
Everything thing that goes up will eventually come down.. it is good news for newbies to get into steem and buying steem using bitcoin..
This fall is for short time ..... That's difference between a successful person and a small investor big investor always finds this small downtrend as an opportunity to but some of them but for a small investor start to panic and sell off