Market Snapshot - Day Twenty Eight
This is my twenty eighth 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 all in green, on a sustained trend, with two tokens posting double digit growth.
Bitcoin almost recovered last week losses and it trades close to $12k. Ethereum is posting double digit growth, aiming for $1200. NEM recovered surprisingly well after the Coincheck hack 2 days ago and it trades basically at the same level before the loss. Overall, market seems relatively strong on the bull trend.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $6.24 on Coinmarketcap, slightly up from yesterday, marking the third consecutive day of growth (in fiat). On Bittrex, the 30 minutes chart shows a downwards slope, from 54k to 50k satoshis.
The 1 hour chart confirms the loss of value against Bitcoin, on a slow trend.
The 1 day chart makes everything clear and puts the downtrend in context: it's the third day of correction against Bitcoin, but after a very bullish run 5 days ago. The correction is just about 1/3 from the gains.
SBD was trading, at the moment of writing, at $7.11 on average, sightly up from yesterday. The 30 minutes chart on Bittrex shows a sustained, downwards correction to 57k satoshis
The 1 hour chart shows clearer the same downwards trend.
The 1 day chart shows a correcting downwards candle, keeping the SBD loss still at 1/2 of what it gained in the last bullish run.
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, you could buy 1.139 STEEM with 1 SBD, down from yesterday.
Overall opinion: STEEM and SBD both lost value against Bitcoin, while Bitcoin appreciated, in such a way that, in fiat, STEEM and SBD are slightly higher, or at least stable. It's a normal trend when BTC appreciates: value from alts go into BTC. The SBT to STEEM ratio is lower than yesterday suggesting that the "traditional" weekend SBD pump couldn't happen this time.
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
- Market Snapshot - Day Sixteen
- Market Snapshot - Day Seventeen
- Market Snapshot - Day Eighteen
- Market Snapshot - Day Nineteen
- Market Snapshot - Day Twenty
- Market Snapshot - Day Twenty One
- Market Snapshot - Day Twenty Two
- Market Snapshot - Day Twenty Three
- Market Snapshot - Day Twenty Four
- Market Snapshot - Day Twenty Five
- Market Snapshot - Day Twenty Six
- Market Snapshot - Day Twenty Seven
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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I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
It looks like bullish trend is back on crypto market!!
Excellent analysis friend and it's nice to see another green day in crypto space and especially for steem and sbd, i hope steem will gains more heights soon.
A SBD pump would have been nice as a weekend surprise :)
It actually was a surprise that it didn't happen :)
Can't burn bright when BTC is taking the fuel away...
Weekend isn't over yet though...
sbd on a great fall today but great to know that you are almost at finish line of the 30 day challenge :D
Oh Yeah!!I think this was a big surprise. hopefully the price of SBD will increase this week. But unfortunately I have losse for the past few days due to various reasons. . Anywaz,Great post dear @dragosroua
I prefer such days, not too much market action. Nothing suddenly rising or falling, just a slow trend upwards but that's the USP of cryptos: volatility, it can be both good and bad though.
thanks alot, atm of writing market goes up and up :) I hope the boom will start :)
Again thanks for the update. It's an easy read for me with not too technical stuff. So great for us beginners ;)
Great work @dragosroua. I wish SBD can go up to $8 today.
have a nice day...
That's a very nice surprise :-)
Great works