Market Snapshot - April 6th 2018
Top 10 Cryptos
At the moment of writing top 10 assets were bearish, with 9 in red and only one in green.
The only green asset is EOS, this time and it's worth noting the re-entrance of Monero in top 10. After maintaining itself flat yesterday, Bitcoin seems to be heading down, dragging the alts with it. Bear pressure doesn't seem that big, though.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $1.74 on Coinmarketcap, slightly up from yesterday.
On Bittrex, the 30 minutes chart shows two upswings followed by a mild correction, between 25.5k and 29k satoshis.
The 1 hour chart shows mostly sideways trading, if we don't look at the two upswings:
The 1 day chart shows a potential stabilization around 25.5k satoshis.
SBD was trading, at the moment of writing, at $1.86 on average, significantly down from yesterday.
The 30 minutes chart on Bittrex shows a single upswing, followed by a mild correction:
The 1 hour chart shows a clear recalibration on a new corridor, from 37k satoshis to 27k satoshis.
The 1 day chart indicates a SBD correction is still in place:
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, for 1 SBD you get 1.071 STEEM, down from yesterday and trending lower.
Overall opinion: Markets are rearranging again, but bear pressure doesn't seem too big. STEEM and SBD are showing some signs of decoupling in valuation, with SBD trending down and STEEM trending up, but we need more days and a bigger volume to consider this a trend.
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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I really wonder where all of the bear market will stop. I mean it can't keep going down to zero, can't it?
Another question, let's assume nobody is cashing out, but just trading their assets for lower values, is it possible to decrease the market cap of the coins this way? Because people are selling their coins for lower values than usual, and buying back, making this a loss trade?
I hate to answer like this, but a thorough (and painful) experience as a FOREX trader taught me that:
Only the market knows when it will stop.
If you give up any impulses to control it, and just ride it, then you have higher chances to get out of it sane in the head.
Pff, it is sad to read that, but at least it was funny the part with getting out sane in the head :)
The original saying was a bit different: "getting out with both your balls intact", but I thought "sane in the head" might be a bit more politically correct :)
Ah, that was a funny one, indeed :)) but how you said it sounds more professional, I must admit
I think sbd and steem are gaining against btc this time around because they are not what they uses to be if btc goes as low as it is right now so it's still looking good to me.
The market is a bit more of the same with yesterday's. Hopefully we will see a gradual and stable increase in the price of Sbd. Thanks for the info
Steem and SBD will probably remain around this range until a proper date is given for the release of Hiveminds, unless there's another pump and dump like a few days ago or a huge bull run from bitcoin, price shouldn't move around that much.
Steady as she goes. Steem and SBD have held up well the past 3 months in the bear markets, poised for a good future. You think we will see a June like last year with lots of money flowing in?
Yes. As a matter of fact, I even take into account a scenario in which platform updates are throttled (or even delayed, put on hold) for a more favorable moment, to get a bigger bull impulse.
Everything back to the nov. price points nearly time is it time to explode
A positive feedback regarding the Steem going up in a prevailing bearish trend. Kinda breather and delight.
I used to miss the details regarding crypto market. Thanks for coming back with the daily updates... Anyways we hope for the best...
BTC and other crypto currency are our future & as price is going up and i hope that it will upgrade soon. But when it grows down we should be frustrated...because of their decentralized charataristics ..
Thanks for current update @dragosroua
I think the market will jump over the weekend