Market Snapshot - February 6th 2018
Top 10 Cryptos
At the moment of writing, top 10 cryptos were showing the second consecutive day with double digit losses.
Although it's hard to tell, it seems the sell-off has hit its bottom.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $2.88 on Coinmarketcap, sharply down from yesterday.
On Bittrex, the 30 minutes chart shows an upswing testing 48k satoshis, followed by a correction down to 43-44k corridors.
The 1 hour chart shows mostly sideways trading between 55k and 44k satoshis.
The 1 day chart shows another test of the low support around 43-44k satoshis.
SBD was trading, at the moment of writing, at $2.57 on average, sharply down from yesterday. The 30 minutes chart on Bittrex shows another pump attempt, up to 46k satoshis, but again, very short lived.
The 1 hour chart shows that this second pump was higher and on more volume than yesterday's attempt.
The 1 day chart shows a very short red candle with a long upper wick, signifying low buying power.
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, you could buy 0.902 STEEM with 1 SBD, slightly up from yesterday and still under parity.
Overall opinion: The blood bath seems to have hit a low, but it's still hard to tell if this is just a small respite or the signal of stabilization. STEEM and SBD are hit hard in fiat, but relatively to Bitcoin they're doing ok. The SBD pumps are less and less powerful.
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.
Wanna know when you're getting paid?
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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 |
I strongly feel that we have reached bottom...
What's a pump Dragosroua? Is that when someone buys a load of currency in the hope that it will lead others to follow and increase it's value?
Yes. Have a look at this article (and the link in it) to understand how this works https://steemit.com/trading/@dragosroua/the-rise-of-the-pump-and-dump-groups
Will do. Thanks!
I think that the bottom is here, and I hope we will not see another jump in the prices, but a continuous growth and stabilization, but who knows what's next?
I like your potential payments graph more than mine
:))
Having a look of what is happening in the market, I would call it rather a nuclear meltdown! Unfortunate, the impact of the news coming from china is huge...
Very hard time, I think , due to the dominance of Bitcoin in the market cap, Altcoin are undergoing bitcoin issues, chances are high that 2018 will be the year when the market will accept that performing coins will surpass bitcoin.
It's a bitter reality what's happening now, but we can not shake.
I don't know what I must do with SBD, as much as I have faith in the Steem blockchain, SBD production is growing very fast.
Should I sell my SBD as soon as I get it or hold on to it?
its bottom and we are going up soon
Great information about crypto thanks alot for it
Keep it up
Sbd and Steem both going down but its time to hold
Soon we will on the top, Although in bottom