Market Snapshot - April 20th 2018
Top 10 Cryptos
At the moment of writing top 10 assets were bullish, with all of them in green and 2 of them, Bitcoin Cash and Ripple, posting double digit growth.
Bitcoin kept the gains pocketed at the beginning of the week and prepares for the weekend in a stable shape. Building on this stability, the bullish sentiment grows across the altcoins, which are seeing bigger gains.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $3.06 on Coinmarketcap, up from yesterday, breaking over $3 for the third time in the last 7 days.
The 1 hour chart shows a sideways-to-bullish pattern, with flat intervals and with higher lows on corrections, suggesting the token may try to lock in a new resistance level at 37k satoshis
The 1 day chart shows consolidation around 37k satoshis after the last 3 consecutive spikes.
SBD was trading, at the moment of writing, at $3.06 on average, up from yesterday and basically at parity with STEEM.
The 1 hour chart shows a similar patter with STEEM, only the upper wicks are longer and candle bodies smaller, indicating that, while still appreciating, there is a relevant bearish pressure on the token
The 1 day chart suggests consolidation around 36.5k satoshis
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, for 1 SBD you get 1.005 STEEM, up from yesterday and slightly above parity
Overall opinion: Overall, markets are ending the week on a very positive vibe, although the gains are not spectacular. The consistency showed by all the major crypto assets is encouraging. SBD appreciated slightly and reached parity again with STEEM. Both tokens are advancing in a less hairy way, which indicates more constant interest and less pump and dump behavior.
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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Dear Lord! I sold my ripples at 8000sats. Hopefully we will witness slight retracement.
Oh, they're now equal again. I thought Steem was gaining ground in front of SBD. What has happened to the efforts that had been going into pegging SBD? Is it an issue with "peggers" being outnumbered or the fluidity of the market?
Most likely. But, as I pointed out in the article, SBD is advancing with a different pattern than STEEM. It's a token that is still having a downward pressure and, in time, this should level it down to the peg. At least IMHO.
wow very excellent
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markets are ending the week on a very positive vibe, although the gains are not spectacular. The consistency showed by all the major crypto assets is encouraging
I agree, very encouraging, up we go
Growth has been organic, kind of.
Yea , if steem can be seen as an investment platform, then we need consistency rather than pump which would eventually lead to dumps. This is good for the ecosystem and I am very positive .
In crypto, dump is not a respecter of consistent or sharp positive price action.
I wonder at where will Steem be in few years time. although most people I referred to don't make past a month. How much do you think Steem will hit by the end of the year.
Only the market knows :)
That how i like to see the market i have a feeling we will have it for a while now
I'm keeping an eye on EOS as it seems to be recovering quite fast from the downtrend. Last week airdrop plus the rollout announcement of the first feature-complete pre-release version of EOSIO, Dawn 3.0 pushed the price up. But the fact that we are approaching the end of their 1-year ICO may be pushing the value up quite fast. Today the price is just touching the $10 resistance.
Thanks so much for the amazing work on the block chain.
You are the reason some of us are here on the platform.
I just wrote this to appreciate the amazing work.
God bless you.
As always, excellent analysis!
Thank you @dragosroua for steem.supply. It is really useful tool to know the account statistics.