Market Snapshot - February 25th 2018
Top 10 Cryptos
At the moment of writing all top 10 assets were predominantly red, with only 2 assets in green: Litecoin and IOTA, which made it to the top 10 again.
The entire market looks slightly bearish, if not stationary at the moment.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $3.47 on Coinmarketcap, down from yesterday. in fiat, but up in Bitcoin (see below)
On Bittrex, the 30 minutes chart shows a very gentle bullish trend, going over 34k satoshis.
The 1 hour chart shows sideways trading, but also with a very subtle bull look.
The 1 day chart shows the same level for 5 consecutive days, with very little variation.
SBD was trading, at the moment of writing, at $3.97 on average, down from yesterday both in fiat and Bitcoin. The 30 minutes chart on Bittrex shows sideways trading between 39k and 37k satoshis.
The 1 hour chart looks predominantly bearish, although it's mostly sideways trading.
The 1 day chart shows a slow descending trend, with the 40k satoshis resistance level broken.
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, you could buy 1.146 STEEM with 1 SBD, down from yesterday.
Overall opinion: Looks like markets are simply traded less than before, and the small variation implies lack of interest from traders or caution. STEEM appreciated slightly in Bitcoin, while SBD is going down. We may see parity again sometimes by the end of next week if nothing major interferes.
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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Steem and sBD are really cutting it close with one another . At this point , one will fall and the other will rise in my opinion .
Yeap, agree.
Glad to see STEEM appreciating even when the market is in bearish mode...
I've been waiting for SBD to go over $4 but I kept going down and down. Before going to bed, last time I checked, its price was $3.67.
If SBD goes down to $3, I'm gonna buy more. If it goes up and hits $5, I plan to sell some of my SBDs. Win-Win isn't it? Great post!Thumbs up!
Thanks for the update. Bullish trend where are you? I'm HODLING.
At the moment some coins including Steem seem to recover. Do you think the market will get bullish anytime soon as it was before?
Not sooner than half of March, IMHO. The sentiment is very bearish, the market seem "battered and bruised".
As always, I can be very wrong :)
I guess nobody knows precisely what is going to happen, but your point of view is based on a lot of information so I tend to trust it. I am ashamed a bit that I don't read so many news about crypto lately, but I rely on the information that I receive from other people but which I am checking myself too so it is possible that I miss something.
Heard that things will go back to normal by 28th of Feb when the Chinese market will be open again for transaction . Don't know how true that is though .
Interesting, any source for that news?
The only good thing I can see on these daily charts is that current levels seem to be somewhat of a floor for Steem/SBD. Of course what the top coins do will have an impact, so let's see if Bitcoin can retake the $10,000 level this week.
I've read that there are a lot of people who bought on the way up between $12,000 and $17,000, which will make it very difficult for Bitcoin to get through this entire range as this group is just looking to dump their bitcoin and get out without a loss. That could mean an extended period of depressed prices.
Seems like whales manipulating the market once again time to hold tightly :)
the dull phase of the crypto is here time to hold and relax