Market Snapshot - February 17th 2018
Top 10 Cryptos
At the moment of writing all top 10 assets were in green, announcing a bullish weekend.
As expected, after the Chinese New Year, which was yesterday, the market seem poised to recover last two months losses.Bitcoin appreciation, though, will most likely affect alts, which will lose some value (in Bitcoin, but will appreciated in fiat).
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $4.61 on Coinmarketcap, slightly up from yesterday.
On Bittrex, the 30 minutes chart shows another a small ascent up to 43.k satoshis, followed by a correction back to 41.5 satoshis.
The 1 hour chart indicates an abrupt downtrend, with a resistance level around 40k satoshis.
The 1 day chart shows a fourth consecutive red candle, confirming the 40k satoshis resistance level.
SBD was trading, at the moment of writing, at $5.68 on average, slightly up from yesterday. The 30 minutes chart on Bittrex shows a steep downtrend from 54k satoshis to 50.8 satoshis.
The 1 hour chart shows an even steeper downtrend on a consistent volume.
The 1 day chart shows 3 red consecutive candles, but the losses are not even half of the last green candle.
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, you could buy 1.235 STEEM with 1 SBD, down from yesterday but the parity continues to be broken.
Overall opinion: Bitcoin is on a very bullish trend, sucking up value from all alts. STEEM is holding ground, but SBD seems to enter a downtrend. Both assets are appreciating in fiat, though.
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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There was a lot of FUD on South Korea ban and Chinese new year... Now that both have ended, we can again expect green market in the coming weeks hopefully!
Those who are in crypto for long term, they will make profits. They're hodling and even if they made some losses recently, they will soon be profitable. SBD and STEEM you're beauties.
Really thanks for sharing your opinion with us, currently Steem is dancing at 4.46 dollar and SBD is at 5.41 dollar but i am happy that both are nicely recovered from the deep downtrend of 2.50 dollar, and yes, in my opinion also, the Bitcoin trends are effecting other Altcoins, this is due to Dominance of the Bitcoin on the Cryptocurrency market. Let's hope for the best and wish everyone should get profits. 🙂
Stay Blessed.
Now that the Chinese new year is over, I thinks its time for crypto traders to convert all altcoins into bitcoin as the bullish trend of bitcoin will be equals to the bearish trend of altcoins.
Wow! Why is SBD getting such an advantage over Steem? Even though SBD has more uses, I see more value to Steem. I'm also glad the market is doing well. :) Our investments are safe for the moment.
SBD has a much lower supply than STEEM, so it's easier for traders to manipulate it.
Bullish all the way waiting for Sbd weekend pump up party ;p
This small drain in satoshi price was expected, with bitcoin heading to 11k. Now the question is, will bitcoin keep going back up or will it stabilize at some point to allow the rest of the market to catch up?
Excellent post! It's nice to know that cryptocurrencies are going up from the last losses there's a light at the end of the road, also your analysis on SBD are so useful for everyone here. Great!
Overall, good scenario. BTC is back and seems to bounce back more in future. A moment of silence for BTC haters and all the sympathies to those who quit during the recent dip.
Nice one. An element of hope there. I hope this encourages those who are timid and sceptical, especially about steem