Market Snapshot - March 10th 2018

in steem •  7 months ago

Top 10 Cryptos

At the moment of writing top 10 assets were all in green, 6 of them posting double digit gains.


Screen Shot 2018-03-10 at 9.59.29 AM.png


Bitcoin bounced back to above $9,000 after it went as low as $8,500 yesterday. The market bounce, although encouraging, doesn't ye make for the losses of the precedent days.

STEEM And SBD

At the moment of writing, STEEM was trading, on average, at $2.68 on Coinmarketcap, sharply up from yesterday.

On Bittrex, the 30 minutes chart shows a consistent upwards slope, on increasing volume


Screen Shot 2018-03-10 at 9.59.43 AM.png


The 1 hour chart shows that yesterday dive is almost completely recovered.


Screen Shot 2018-03-10 at 9.59.43 AM.png


The 1 day chart is very slightly bullish: after a small red candle with a very long downside wick, today seems to form a longer green candle.


Screen Shot 2018-03-10 at 9.59.57 AM.png


SBD was trading, at the moment of writing, at $2.66 on average, up from yesterday. The 30 minutes chart on Bittrex shows an upwards slope, but with a smaller angle than STEEM and much bumpier.


Screen Shot 2018-03-10 at 10.00.21 AM.png


The 1 hour chart indicates potential stabilization below previous high.


Screen Shot 2018-03-10 at 10.00.28 AM.png


The 1 day chart confirms the decoupling of SBD from STEEM noticed a couple of days ago: SBD is still going down, while STEEM is slightly bullish:


Screen Shot 2018-03-10 at 10.00.42 AM.png


SBD to STEEM Ratio

At the moment of writing, according to steem.supply, you could buy 1 STEEM with 1.011 SBD, down from yesterday and we're slightly under parity.


Screen Shot 2018-03-10 at 10.01.11 AM.png


Overall opinion: Markets are bouncing back after last week carnage. STEEM and SBD recovered both in Bitcoin and fiat, which indicates bullish sentiment. SBD is decoupled from STEEM and heading back to the peg.

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.


Dragos Roua


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Thanks for the info @dragosroua, Thank God the market is going green again, but I'm sacred, why? Steem is beating sbd now. What will happen to the payout formation and what If sbd falls back to $1, will it rise again?

Happy to see end of bearish market at-least for now...Hope it continues the bull run!

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I wouldn't call this a bull run, more of a bouncing back. It has to go over the previous highs of last week to be called a bull run, IMHO.

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True, we were in the market that's why can easily interpret it as a bounce back but the new investors can see as a start of bull run, hence may jump in harder.

Panic over? I understand the Mtgox trustees are selling off bitcoin and that could be depressing the markets. I'm just happy that steem is holding position in the charts. I hope to see it rise in time. I can wait

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I don't think the panic is over, I think it's just an effect of people buying "the dips". We may still see hairy developments until all the MtGoxx remaining stake is absorbed by the markets.

But after that I expect a really high jump.

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@dragosroua Thanks for that comment, this was really helpful to me as I read about the drop was because of the rumors about binance being hacked, which made no sense to me because the drop started before the rumors. By this i know it will make sense buying more and more the next times it goes down and hodl long term.

Nice to see a sea of green!

SBD going back to the peg. I don't know if that should excite us keep make one feel bad. Good for the market recovering so far though.

Good to see the market is trending.

Let's hope for the best.

I think it's going to be roller coaster for 2-3 months and it's gonna grow in December just like last year. What do you think?

A textbook bounce back after hitting the support around 8500-8800$~

These greens come as a sigh of relief to me. It was also good to know that this collapse and the previous collapses were due to the mt Gox trustees selling off their cryptos. This helped keep our minds cool in circumstances like these. Even after this some people have panic sold their alts taking a huge loss.

Also i am among the worst hit in this case. I have lost most of my portfolio. I own some pirl and bytecoin. They both took a huge hit. Since i hodl them as investment i am not that much bothered.

I also own some steem and SBD that i earned here but i am confident that the steem and sbd will continue to perform better.

This dip was also the best time to buy but unfortunate my KYC is still pending with exchanges. I looks like it will take another 2 weeks to complete this KYC process.

Hope btc will go up,fed up with this crashes.

Based on the company's indicative marketing sales that are below our coverage (excluding ASRI as they have not provided any guidance), marketing sales in 2M18 reached Rp3.4 trillion, up more than 20% yoy. This figure is 15.9% of the management target and 16.1% of our estimates. On a monthly basis, we note that marketing sales in February 2018 reached Rp1.9 trillion, with BSDE and CTRA posting the largest increases of Rp1.0tn and Rp580bn, with marketing sales both supported by new product launches.

SBD is decoupled from STEEM and heading back to the peg.

Sanity is restored.

Finally a sigh of relief that cryptos is again on track.It may be due to people high investment due to low price of cryptos, but it's helping. Hopefully it will strengthen the cryptos. keep sharing @dragosroua

Finally shackles are broken... Red red go away. Green come our way.

after all the hard times finally recovering back up :)

Market back in the wave of green good to see this :)

things seems to be getting separated from now on sbd coming back to the earth after the lift off

steem picked up prices after the downfall in speed too which is great :)

Excellent update information, nice post, thanks for sharing