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RE: Market Snapshot - Day Seventeen

in #steem7 years ago

Isn't it because Bitcoin Futures Contracts are expiring tomorrow that is causing all this dip?

Overall opinion: STEEM and SBD took the hit along with the entire market and are trading almost 50% lower than a week ago. Parity was reached and SBD continues the downward trend. The sell pressure seems to keep the momentum and, despite some minor correction today, we may see further depreciation during the next couple of days.

If this expiration of contracts is the main reason of this dip, we see BTC price going up from tomorrow onward and that automatically means that altcoins price will also go up. What's your take on it @dragosroua?

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Bitcoin futures contracts certainly have an impact, but I'd say it's minimal. I'd say it's more of a "natural" correction after December spike.

What's December spike?

The rise in price that happened in December.

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STEEM 0.18
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JST 0.030
BTC 68383.66
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SBD 2.72