Market Snapshot - Day Fourteen
This is my fourteenth day from the 30 days writing challenge I'm doing during January. Basically, I'm writing each day an article on a topic that I'm interested in, or something that I'm just learning. I tag these posts with #challenge30days, if you want to join, all you have to do is to use the same tag. Each day I will also pick 3 articles and give them a full upsteem. For all the details and the motivation, have a look at the introductory post.
Top 10 Cryptos
At the moment of writing, top 10 cryptos were slightly bearish, with 6 in red and 4 in green.
Bitcoin is surprisingly stable around $14k, while ETH continued to rise above $1,300 (with brief episodes over $1,400). Ripple, ADA, Stellar and NEM are confirming a bit of a herd behavior, going down all at once (after rising all at once). ADA is the only token to show a double digit change, this time the direction being down. EOS went out of top 10 after briefly visiting yesterday.
STEEM And SBD
At the moment of writing, STEEM was trading, on average at $5.21 on Coinmarketcap, down from yesterday, bot still up from two days ago. On Bittrex, the 30 minutes chart is showing a swing up to 45k satoshi, followed by a correction to 42k satoshis.
The 1 hour chart shows a clearer picture, with two attempts to break above 45k satoshis, followed by a correction to 42k satoshis, higher than the former low (40k satoshis) which may indicate that bull strength is still there.
The 1 day chart suggests a station around 42k satoshis (but the correction is relatively small) which may be followed by another spike.
SBD was trading, at the moment of writing, at $6.37 on average, down from yesterday. The 30 minutes chart on Bittrex shows consistent down pressure, with the wicks of the last 7 consecutive candles all higher than the bodies.
The 1 hour chart confirms the sharp trend down with potential resistance around 43k satoshis.
The 1 day chart shows a small correction and suggests the beginning of a flat corridor, with sideways trading in the 43-45k satoshis area..
Overall opinion: STEEM correction is smaller than I expected, suggesting the continuation of the upswing, SBD is stabilizing and shows signs of downward pressure. The 1 to 1 parity between the two is imminent, yesterday were moments during which for 1 SBD you would get 1.05 STEEM.
Previous Posts In The Challenge
- Markets Snapshot - Day One
- Markets Snapshot - Day Two
- Markets Snapshot - Day Three
- Markets Snapshot - Day Four
- Markets Snapshot - Day Five
- Markets Snapshot - Day Six
- Market Snapshot - Day Seven
- Market Snapshot - Day Eight
- Market Snapshot - Day Nine
- Market Snapshot - Day Ten
- Market Snapshot - Day Eleven
- Market Snapshot - Day Twelve
- Market Snapshot - Day Thirteen
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.
https://steemit.com/~witnesses
If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
Maybe I have some good statistic views: https://steemit.com/steem/@sevenseals/steem-statistic-charts-week-02
I believe steem price should be 100 USD in 1 y from now. Why because of the limited supply and the low Market capitalization at the present time, Steemit is the only crypto that solves all the problems in one platform. Smart contracts via bots, media, social, video, audio, decentralized voting, Leaders with influence like ned . All of this suggests that Steem is the best and is not under the radar of any crypto trader. as the price fluctuation is very low. That is the only reason steem is so low. To stable to be profitable for short-term position.
Agree that Steem has very high potential upside as knowledge about this paying social media spreads. The inbuilt mechanism of the platform which encourages people to lock in their Steem as SP creates a supply shortage which is on top of the usual long term hodlers which are there for other coins. I do not think there are many altcoins which has such a dedicated and daily userbase as Steem has.
Excellent charts and analysis friend regarding steem and SBD, it really helpful for me to understand the steem and SBD market, thanks for sharing such analysis with us, Stay blessed
Glad to see Steem and SBD prices are now almost equal...
The market seems to have a soft correction. I just wonder why almost all the coins are following the same patterns. Almost all of them are going up or down in about the same time. Why do they synchronize this way?
probably bot trading, arbitrages, etc
Hi @mejustandrew, You're right. Thether (USDT) is an exception. How could it be so stable even in the time of bloodshed?Can you put light on it?
This is how USDT was designed, to have always a value close to 1$. They say that each USDT is backed by one US Dollar so this will always keep its value very close to it. I guess it is helpful for trading crypto versus fiat, but I don't like to use it :)
Oh I see. Thank You!
Thank you for all the great information. Much to study. I’m keeping up with #challenge30days, even if I have to write at the very end of the day, when my eyes won’t stay open. Sometimes I just have to go in the next day and fix my typos. 😊
Very good strategies for post generation. In fact, today I woke thinking about how to wire my mind into generating a them for every day in automatic.
So far my list of themes generators included:
And Now I have yours
Does any one has other theme sources that does not include DOG/Cat/Flowers taking pictures?
Steem Revenue Income is linearly proportional to the amount of brain cells you burn. Hence, we need trigers to though & action posting.
That's most of my not-so-planned posts!!
I sold most of my steem ages ago for about $1 when the exchanges were constantly offline in wallet maintenance. Glad nothing scammy happened, Bittrex delisting Bitshares made me suspect something shady was going on.
some alts are really down still even after btc being stable a lot
Incredible to see that the estimation of steem is relatively equivalent to the estimation of sbd, however,I envision when the estimation of steem would be more prominent than the estimation of sbd