This is my sixteenth 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 almost all red, amidst news about China continuing clampdown on cryptos. Surprisingly enough, only one coin is in green, NEO, or the Chinese Ethereum. I find it somehow hilarious.

---

---

The biggest losses are recorded by Ripple, Cardano, NEM and Stellar, with double digit losses. They seem to be the most volatile cryptos these weeks. Bitcoin and Litecoin seem to contain better this pressure, with 3%, respectively 5% depreciation. Ethereum corrected harder and it shows an 8% loss.

STEEM And SBD

At the moment of writing, STEEM was trading, on average at $4.89 on Coinmarketcap, sharply down from yesterday. On Bittrex, the 30 minutes chart shows two consecutive selloffs, on significant volumes, with the second one posting a more consistent correction.

---

---

The 1 hour chart suggests the resistance level is tested around 37k satoshis.

---

---

The 1 day chart shows a third consecutive correction day, but the outlook is still bullish.

---

---

SBD was trading, at the moment of writing, at $5.38 on average, sharply down from yesterday. The 30 minutes chart on Bittrex shows a significant volume between 43k and 45k satoshis, but the fight was lost and the bears have driven the price around 40k satoshis.

---

---

The 1 hour chart supports a scenario in which 40k satoshis could be the new resistance..

---

---

The 1 day chart is still on the sideways trading pattern of the last 3-4 days, but the corridor lowered a bit, with about 1k satoshis.

---

---

Overall opinion: STEEM and SBD look more damaged than they really are, because of the significant depreciation of BTC. But even if we factor in the BTC dive, they've still been hit by the recent news. Looks like a correction is unfolding but I don't see consistent trends, in any direction. Interestingly, STEEM and SBD lost parity, with SBD still trading higher.

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
• Market Snapshot - Day Fourteen
• Market Snapshot - Day Fifteen

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?

	I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards

It's free to use, but if you think this is a useful addition, I'd appreciate your witness vote.

Thank you!

---