Market Snapshot - August 10th 2018
Top 10 Cryptos
At the moment of writing, top 10 assets were predominantly bullish, with 7 of them in green and 3 in red.
Markets are bouncing back, as expected, but it doesn't look like a rally, yet, more like a technical correction.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $1.06 on Coinmarketcap, slightly up from yesterday in fiat but slightly down in BTC
On the 1 hour chart, STEEM is at the same level (very small loss), which is 16.2k satoshis
The 1 day chart is remaining flat for 6 days in a row at the same level
SBD was trading, at the moment of writing, at $1.06, almost identical with yesterday, in fiat and in BTC.
The 1 hour chart shows SBD maintaining the 6k satoshis level
The 1 day chart is remaining stable, no sudden spike up or down
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 0.968 STEEM for 1 SBD, down from yesterday, and still under parity.
Overall opinion: Markets are correcting slowly and I expect the weekend to look a lot more greener than today. STEEM and SBD are extremely stable in all this turmoil.
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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Little bounce from bitcoin but Altcoins still suffering.
The market shows a clear reversal on Bitcoin on the 4hr chart. Volume is still strong and stochastic not yet reaching overbought. Little by little price is moving towards the 61% Fib Retracement level but we will need the bulls to keep pushing up during the weekend to finally reverse the downtrend.
EOS also showed a bouncing pattern but the market reversed again this morning creating what could be the beginning of a trading range around $5,5. There is a big bear candle developing right now on the 4hr chart and volume still quite strong.
STEEM is developing the same pattern as EOS, it bounced after the strong bear trend but reversed again this morning, volume slightly declining here and stochastic seems to start showing overbought signs. We will need to see how the day unfolds and the correlation with Bitcoin will determine the trend of the day.
I was thinking you will say something abiut the 0% printing rate of sbd, payouts are no more in sbd anymore. What's in it for us, what are we to look out for, what is coming next.
I don't really see anything to be worried about here. STEEM is (and was) the main currency of the blockchain.
How come tether is doing better than other coins. What could be the reason? Any ideas?
Tether is a "stablecoin", pegged to 1USD. As Bitcoin gets cheaper in fiat, Tether must go up, to keep the peg.
Happy to see positive change in bitcoin.
Ripple had an absolute bloodbath. I am not sure if it can recover............ nevertheless I am glad to see that Lumens is shining through at least :-)
Slightly bullish but not a very clear picture where the crypto is heading towards the short and long play of bitcoin is too much now
Nice inform , thank you so much for your information @dragosroua
thanks for the latest information
I am glad to see this positive change in bitcoin...thanks for sharing great information..
After some bad days where the markets were all in the red, its good to see them going up. Will wait one more day for trend reversal :)