Markets Snapshot - Day Four
This is my fourth 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 mixed 50 /50, with the green ones showing double digits growth, except for ETH.
Bitcoin is stationary around the 15k level and it seems the bear pressure is starting to weaken (lightning network implementation, which resulted in lower transaction fees across the BTC ecosystem, may have something to do with this). ETH is continuing to grow, amid increased interest for similar technologies (like NEO or ADA) aiming to reach $1000. Ripple and Stellar both showing over 30% increases, and the gap between Ripple and ETH is widening even more: there are $45 billion between the two currencies, although Ripple just overtook ETH less than a week ago. Speed appreciation of both, combined with limited knowledge about the nature of them, seems unsustainable. Same opinion about ADA. Litecoin, Dash and IOTA are stationary, with small downtrend pressure.
STEEM And SBD
At the moment of writing, STEEM was trading, on average at $7.66 on Coinmarketcap, higher than yesterday, after reaching levels as high as $8.2. On Bittrex, the 30 minutes charts shows sideways patterns, on a limited volume, which means traders are cautious for this time window.
The 1 hour chart supports this assumptions, showing very little variation for the last few hours, on limited volume. General sentiment seems to be "waiting to see what happens".
The 1 day chart marks the end of the recent bull run, with a small red candle following 3 consecutive green ones.
SBD was trading, at the moment of writing, at $9.65 on average, down from yesterday. The 30 minutes chart on Bittrex shows bearish tendencies, with longer red candles and small volumes on green candles.
The 1 hour chart confirms the bearish pattern with low volume overall.
The 1 day chart supports the cautious tendency,with SBD sideways trading in the 68k - 75k satoshi corridor for the last week.
Overall opinion: recent increase in STEEM price seems to enter a correction stage. SBD seems stationary with bearish tendencies.
Previous Posts In The Challenge
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.
https://steemit.com/~witnesses
If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
Overall opinion: recent increase in STEEM price seems to enter a correction stage. SBD seems stationary with bearish tendencies
This is meant to happen as everything that goes up must come down "law of gravity"
Thanks for the post and thanks again for starting this challenge! I just finished my day 3 post and have decided to write on a different altcoin every day. It's been motivating, but makes me want to buy all of 'em, haha.
Thanks for this market update. It's good to know how other cryptocurrencies are performing against Steem.
this is great. I am so focus on steem and sbd and almost forgot the top 10 cryptos haha..
Looks like the good times with high SBD are ending :(
Yes, you are also teaching us by your learning.......great work!! @dragosroua
thanks for shareing this important chart
it would be interesting to see the prices today after bittrex too has disabled deposit in the wallet on exchange due to maintenance
this is my 2nd day on steemit and im still learning the things around.so these kind of posts is a good relief for me to understand the situation and to deal with it.so thank you very much
steem and sbd have been on an impressive run lately, I personally hope it keeps soaring because steemit is a wonderful platform with a great initiative.
Here is my entry for the #challenge30days contest; https://steemit.com/ripple/@handsome9ice/cryptocurrencies-ripple-xrp-the-continuous-rise-challenge30days-with-dragosroua.
I had a brief look at ripple today with respect to its recent rapid growth.