Market Snapshot - March 11th 2018
Top 10 Cryptos
At the moment of writing top 10 assets were all in red, after an enthusiastic and "all green" Saturday.
Bitcoin and Ethereum lost around 5% and the bearish flag is still waving all over the markets.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $2.37 on Coinmarketcap, sharply down from yesterday.
On Bittrex, the 30 minutes chart shows a bearish slope between 28k and 26.6k satoshis, but the price action might trend up (long bottom wicks for the last 2 hours)
The 1 hour chart shows that, although the price went down, the buying volume is almost double than the selling volume
The 1 day chart is showing very little price variation, on a gentle bearish trend.
SBD was trading, at the moment of writing, at $2.41 on average, down from yesterday. The 30 minutes chart on Bittrex shows small variation between 27.5k and 26.5k satoshis.
The 1 hour chart shows relatively big volume on red candles
The 1 day chart shows an almost unchanged candle for the current day:
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, you could buy 1 STEEM with 1.004 SBD, down from yesterday and we're slightly under parity.
Overall opinion: Markets are taking another bearish turn, but STEEM and SBD continue to be resilient. SBD decoupling slowed a bit, but the trend is still identifiable.
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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Not looking good at the moment, but things can change very quickly in crypto market...
Am I right that bitcoin's downturn is linked to the SEC requesting oversight on exchanges? We can see that all the alt-coins are tightly linked to BTC and when any little nudge forces the value down .. well it's certainly a rollercoaster.
It says a lot about the precarious position of crypto that any move by the feds/big banks to regulate causes a crash in value. And it's ironic considering the SEC is pretty toothless with the coming legislation rolling back Dodd-Frank .. basically the big boys ir Goldman Sachs etc can do whatever the hell they want and the little fish have to get in line.
I think it's related more to the MtGox trustee dumping BTC at the market value. It's more sistemic than just news.
Steem trading below $2.5 is something to be really worried about. The market is really down right now. The recent plunge is something to worry about
All the market is down unfortunately... If the SBD somehow is going to the right direction on his way to one usd, the price of STEEM is way low that i was expecting.
But on a long run i think STEEM will grow and it will became a regular in the top 10 Cryptos!
STEEM / SBD are actually losing way less in BTC, the drop in fiat is because BTC is trading very low now.
Totally agree!
I still make this major mistake of thinking or comparing all the altcoins in fiat as i should look all the time of their price in BTC (or in satoshi)...
Wish you a great Sunday Dragos!
Aaaaah, so low!! When do you think it'll go back up?
No idea. When it's up, it's up :)
I hope see two greens numbers again soon
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
Yesterday was all green, What's going on!
Is there Any positive news for crypto market?
LTC kept me safe upto now... planning to go for ETH in long-term... what's your opinion
i dont like them in red!
i love green