Steem price probably to be supported against many others and thoughts about STEEM/SBD
Good morning Steemers and traders! The markets have been in a steady gliding mode and bagholders are being liquidated every minute. Overall outlook is grim, but there is always something good in a bad day.
Namely, yesterday, on February 1st, Binance came out with an announcement that they have listed STEEM on their exchange for trading. Pairs available are STEEM/BTC, STEEM/ETH and STEEM/BNB (some kind of a weird Binance Coin).
Via Binance
Since many exchanges have closed doors to new customers, i have been occasionally making accounts at various cryptocurrency brokers, to not miss out on opportunities on the occurence of another wave of bans. A Steemer really needs an exchange, where he can move his Steem to, compare prices, find arbitrage opportunities etc. And since I was unlucky to be left out of Bittrex by a close call, I also own a Binance account. I don't see the appeal of the Binance coin - only thing that catches the eye, is that it provides you a 50% discount, when paying fees with it. Instead I would love to see more pairs to trade STEEM against and of course, support for SBD too.
Nevertheless, let's not get carried away, Binance is a major exchange and this is significant move. While listing only 3 Steem pairs for trading, this should keep the price of Steem supported against many other cryptocurrencies.
I share the view of many that Steem should be listed on more exchanges as it's one the major cryptocurrencies. Getting listed on Binance might have been very well the work of Weiss Ratings Agency's report. If you're interested, what others are doing to get Steem listed on more exchanges, check out what @thecryptodrive has been doing to get Steem listed on Quoinex and Qryptos here.
Quoinex.com - what a tongue-twister
Grab a Binance account here: https://www.binance.com/
Have some experience with Binance already? Tell me your horror or happy stories in the comments!
Remember my post, where i considered by a technicians view, why SBD should be outperforming Steem in the short-term?
Yes, i was wrong. The talk that most witnesses are doing efforts to peg SBD to $1 and that it eventually will fall there anyway immediately halted the SBD advance. And take a look at this STEEM/SBD chart, courtery of Tradingview and kindly pointed out by @bulleth. Nice inverted H&S pattern there (the pattern sucks, but the breakout is clear). And now Steem getting listed on Binance but SBD not, is suppotive of this pattern, that points to 1.5 in the STEEM/SBD ratio
But whats going on with the markets? They are sliding so bad, you cannot see any crypto to catch any bid. It's a self-fulfilling prophecy. People are afraid of the potential market crash, so they sell their holding and give their contribution to the bloodletting.
The phase where retail traders sell their holdings is usually the phase, where institutions accumulate positions. Whether we are their preferred level already - can't know, but if you are not betting your house, it's a good time to start adding to your portfolio.
Keep your heads cool out there!
I been using binance since late October and ive never had an issue my favorite exchange by far to purchase altcoins. Hope to see sbd added as well.
I don't see why the steem price should benefit from listings on new exchanges. You can buy into steem from steemit but to sell steem you need an exchange.
I'm not surprised about the bad steem/sbd ratio, because all leavers are trading their abs to steem an sending it to binance.
I'll try to keep calm and hope time will bring better prices. If not, that's the risk you're taking when dealing with cryptocurrency...
Well, most traders of the world don't have access to a Steem account, this gives them the possibility to trade it. Why being listed on an exchange should be bullish the instrument? Because the exchange believes thta the istrument hjas potential. Of course, with all the markets in heavy glide, cannot expect STEEM alone to be pumped - need some markets-wide buying.
i was lucky enough to get on bittrex,binance, and coinexchange a while back. having steem on more exchanges can only help it grow. it will put it in front of more people and publicity is always a good way to grow value even bad publicity can. hell look at paris hilton she wasnt famous till that REALLY bad publicity lol
up voted as alawys
So Binance finally added STEEM to their exchange. Good thing I was able to make an account there. But I'm really disappointed that SBD wasn't included. Speaking of SBD is it really gonna slide down to $1 ? Hopefully it won't happen too soon as I have been holding my SBD. If I know this would happened I could have exchange it for STEEM. Too bad the market is just so unpredictable. Thank for the heads up. A pleasant day to you.
Currently i see no reason to hold SBD and i exchange it to Steem rather quickly
"The phase where retail traders sell their holdings is usually the phase, where institutions accumulate positions"
...been waiting for this for a while now...might have to wait a little longer though
And the Binance listing of Steem is excellent news!
We'll see what happens. In the meantime - don't have the expected outcome in mind and there won't be bad surprises. Have a joint and chill keeping doing what you love!
Peace - love - gratitude!
Thank you so much for sharing useful info. I was on Poloniex but yesterday I got news, poloniex has banned Steem wallet transactions so immediately I made an account at binance to be secure.
Keep sharing updates news.
“Ohh it dropped a bit, now is a good time to buy my first Steem” buys 1 eth worth of Steem before I go to bed, dropped 25% when I woke up. Feels good man 😎
been there done that :D
can you provide the link to STEEM/SBD chart on trading view ?
Sorry, the link i gave takes you probabaly nowhere. This is how you search for it on Tradingview
got it, thanks..
Thank you for letting me know about Binance supporting STEEM... Will gladly see how STEEM trades over there!!