SBD Slightly Pumping - Upbit Interface Slightly Confusing
As expected, SBD is trying another weekend pump, currently trading just a tad above $7. I said "as expected", because that was the pattern for the last few weeks, but it's obviously no guarantee that this will happen again. The current price just seem to support that scenario, that's all.
Since the vast majority of the SBD volume comes from only one exchange, the South Korean Upbit, I paid them a visit this morning, trying to understand the dynamics behind this game.
I don't understand Hangul, so it's quite difficult for me to make sense of anything other than the charts.
But, and here comes the funny part: even the charts are somehow twisted. If you look at the screenshot above, you'll notice something very odd: the down candles are blue, and the up candles are red. In any other charting software I've used (and, believe me, I used quite a lot) the down candles are always red. The up ones may be empty or black, but the down candles are always red.
That makes the reading of the chart very awkward, because when you see tree consecutive red candles, stacking up on each other, you're kinda baffled: it means the price is actually going up, but the red color may make you think there's some huge sell off going on...
What if this entire pump is the consequence of this strange color thing?
What if people are buying SBD when it goes up, because they think it goes down?
We live in a very, very twisted world.
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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maybe we have AI bots that are looking at the steem blockchain as a resource for storage, what with it's millions transactions and not breaking a sweat blockchain and no fees maybe it's just a great blockchain to be wheeling and dealing! :) dunno -- i certainly feel like i've backed the right horse.
Yep, the red candles are always red, I didn't used many software to display charts like that, but I have seen a lot. I don't know if this confuses people from Upbit so much, I guess they just got used with it :D
Oh my goodness, as if things were not complicated enough already. I always thought red was a globally accepted color of warning but may be not in South Korea. We need our South Korean brothers and sisters on Steemit to come out and explain this :D
If Steem and SBD continue the trend they should well and truly reach ATH again by end of Feb. Unless Bitcoin goes on the run again, in which people will move their money back to the big dog.
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Looks to me to maybe be a cultural thing with the candles. I get it ( red = Hot ) and Blue = cooling off. What say ye?
Cheers
From 12:03 am (UCT Time), the price started increasing.
Be careful with their traffic lights !!!
Shouldn't we ask @haejin?:)
Red is, at least in Chinese culture, a symbol for luck, health, fortune and the whole shebang.
They deny it, but the 3 East Asien cultures, Chinese, Japanese and Korean are extremely close together.
:)
Well rates from past wereks are weired!!
Can't understand whats happening?
May its cause from the korean but eventually no idea about that!
All people like me can hope for the best!