Markets Recovering - Green Thursday Which Is Still In Red
After two days of "falling knives", markets seem to recover.
I'm happy to see ETH over $1,000 again, but, to be honest, seeing 54% gains for Ripple kinda worries me (same for Stellar, with over 45%).
In other news, STEEM was trading, at the moment of writing, at $4.38, posting a gain of over 25%.
It's still early to celebrate a full recovery, IMHO, because, as you can clearly see from the screenshot, this upwards correction is barely touching the half of the losses from the last few days.
So, although we're green, we're technically still in red.
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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The bankers really want their Ripple toy to overtake bitcoin, don't they? Btw, there is another futures settlement on the 26th of this month (CME:http://www.cmegroup.com/education/cme-bitcoin-futures-frequently-asked-questions.html), so we may see another sell-off soon.
What's up with Stellar? I thought only Ripple is controlled by institutions...
It's kind of the same breed with Ripple.
Later edit: I'm not bitching, nor I'm against any of these two. They just seem over-evaluated, that's all. But I totally understand how from somebody who never heard of Bitcoin, it may seem "over-evaluated, money out of nothing, etc" too. So, there's definitely a possibility to be wrong here...
This volatility is making me nauseous. So extreme even for crypto
Great i was a bit worried yesterday. Today I like the green :)
I saw that BCC was up over 300% at one point in the day! I don't know if it has come down yet..
I am wondering if this is going to be a short term trap
Really nice to finally be back in the recovery phase. Everyone can stop losing their minds now :p.
@dragosroua
Although there are technical analysts saying bitcoin will form a lower Low than even two days ago, I do not really expect that to happen. This crypto-market is so much about psychology, so full of information and social influencers who provide their technical analysis (entry points etc.) to a big audience. Selffullfilling- as well as selfdestroying prophecies occur due to various factors, so that in this case, considering the last two days of price action in the crypto-market and technical analysts providing their new lows, I expect Bitcoin to do nothing but to just go sideways for the next days in January, until he rises again. Simply because a lot of panic selling happened already with most weak hands supposed to be shaken out by now and new potential private investors standing on the sideline, unsuccessfully waiting for a new Low/entry point to get into the game.
My expectations for January are mainly moderate action with steady growth in the altcoin-market and Bitcoin going sideways.
I got all excited when I saw that many coins were showing signs of recovery -- then I looked a little bit closer at the details of the downfall over the last week, and there were quite a few 'mini' recoveries before it went down further again. It's hard to say what it's going to do in the near or long term, but right now, I'm just excited to be earning STEEM a little bit faster than when it was $8USD/1STEEM a few days ago.
technically, we're still in red, but it's good to see $4 for a STEEM, instead of $3. But then again, I guess it depends from which side of the STEEM you're looking at it :))
I'm looking at it from $0.5...which is what the price of Steem bottomed out at after many months of decline..
Very interesting. At what point did STEEM hit $0.5? I'll admit that I'm pretty new around here so I may not have been around when this happened. I know it went from $8 to about $0.07 a while back, or something like that -- so I understand that such low values are certainly possible.
June of 17
If I recall the value of my account went from a couple of hundred dollars to over twenty K....in the space of a few hours...
I got preettty drunk that night...watching it gain in value.
Didn't sleep for two days...glued to the computer..
wasn't it $0.1? Like in 10 cents?
my bad...I left off a zero...it was five cents..
there was discussion about what would happen if it dropped to less than a penny
all the data is on the blockchain I presume, for those who can access it.
I used SteemWhales..but that site hasn't been updated for a month.
Definitely. I watched David Pakmans interview with @aggroed last night, and he made a pretty strong point that, the last time BTC was at the $11,000 level, STEEM was at $0.91.
BTC has been around the $11,000 point again in recent days, but STEEM seems to have stabilized and rebounded (for now) hitting a low of ~$3 I think it was? Which is about 300% it's value last time -- seems like a good sign to me.
Based on what you are all saying about where prices were before relative to where they bottomed out now (so far), I like what I'm hearing. To Aggroed's point made last night, the base is shifting up. As much as I would love to buy some $1 Steem, I'm more inclined to see it rise.
Pun not intended. Okay, maybe. :)
Why the worry for the Ripple rebound?
I just don't see "it". But that's just me :)
You mean you are suspicious that it gains more/quicker than the other cryptos?
No, the whole project seems over-evaluated to me.
I see, yes I agree, that's why I'm a bit suspicious about it....
many thanks for the info @dragosroua