Market Snapshot - June 16th 2018
Top 10 Cryptos
At the moment of writing, top 10 assets were slightly bearish, bot none of them touched the previous low (yet)
The crypto marketcap is shrinking so fast that Tether is now on the 11th position (not captured in the picture above) ahead of assets like Dash, Monero or Ethereum Classic.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $1.66 on Coinmarketcap, down from yesterday.
The 1 hour chart is showing a gentle downtrend, wiping yesterday's gains and trading now around 25.5k satoshis
The 1 day chart is relatively flat around 25k-26k satoshis, for almost a week now, which may be a sign of stabilization (or indecision).
SBD was trading, at the moment of writing, at $1.31, slightly down from yesterday.
The 1 hour chart is flat at 20k satoshis
The 1 day chart is also flat for the last 6 days - which, for SBD, it's usually a good thing
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 0.789 STEEM for 1 SBD, slightly up from yesterday, and under parity.
Overall opinion: Markets are still looking down, but the last week bottom wasn't yet reached. If during the weekend that bottom is touched again, we may be in for another bearish week. STEEM lost a bit, but not too much, while SBD is remaining stable.
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.
Wanna know when you're getting paid?
|
I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
Markets seem to have entered a new trading range after the last small pump. Volumes are decreasing in a clear symptom of indecision. Moving averages are getting closer and closer
Bitcoin crossed the $6500 line and this morning started a very smooth approach uptrend to hit it again. Volume very low. We will see if the weekend brings any big moves this time.
EOS had a similar behavior but the $10,5 line acted as a support and was not crossed. The volume also decreasing and fast (50 periods) moving average crossed 100 periods one which may indicate slight uptrend tendency.
Steem has the same behavior. Very low volume and price just not moving in the past 12 hours. 50 and 100 moving average lines getting closer and closer
I'm not an expert, but reading around we are sure that a real rice will be only after August / September. I understand that you can not have the crystal ball and predict the future, but have you read similar news? If yes, what potentials do you support?
I don't have a crystal ball, as you wittingly pointed out, but from my brief experience as a FOREX trader (around a year) and crypto enthusiast (around 2 years) I know that everything is possible.
There are many potential explanations for this bear market, but my personal opinion is that we may see again a bull run once the "institutional" money (read Wall Street) has filled the space to the maximum. Meaning when all the Wall Street players gathered as much crypto as possible. This, obviously, is balanced by the HODL mentality of "small" players, which may, or may not, hold (pun intended).
The last bull run validated crypto as a trading asset and big sharks want a piece of this pie. Price suppression, along with FUD and other tactics, are in line with their intentions to buy cheap (who wouldn't want that, by the way?).
So, when this balance will be reached, and "institutional" money will come to a maximum, price will start climbing and this second bull run will be an order of magnitude higher than the last one (as always with Bitcoin).
It's hard to predict when this will happen, though. I would bet 2 cents that this will happen sometime at the end of this autumn / beginning of this winter.
But don't trade based on my 2 cents :)
Thank you for your answer. I take this opportunity to ask you a question: I have small amounts of BTC, LTC and ETH. Considering that in any case they follow all the trend of Bitcoin, does it make sense to diversify or focus on the main cryptocurrency?
Informative post .
Thanks for your information .
Good job , carry on .
Thanks for sharing @dragosroua
Upvote you .
Why is steem is falling down?and it will be good to invest in steem?
Very complete information, a lower price of Steem would allow new users to buy and buy more of our cryptocurrencies, which in theory accelerates the rate at which the power is rebalanced with respect to the fluctuating net value and the capitalization itself, but with an endless price of Steem in downward spiral, will be little motivation for new investors to enter. Greetings, you are very well
steem is falling down any idea when it will increase ?
Market price still a mater of think. Very whole records, a decrease charge of Steem could permit new customers to shop for and buy more of our cryptocurrencies, which in concept hurries up the price at which the power is rebalanced with admire to the fluctuating net value and the capitalization itself, but with an endless rate of steem in downward spiral, will be little motivation for new buyers to enter. We are sure that a actual rice may be handiest after August / September.
Again a little down from yesterday.
The markets are killing me. Thanks for the update
if this go more below then its a loot for the crypto to buy more hahah
Yes, now this view is really familiar because every moment we can find the volatility in Crypto Market and we don't know when we can see an Stable one. In my opinion the Institutional Investors can play that Stable role in Crypto Sphere so, Crypto Enthusiasts are waiting for the investments by Institutional Investors.
At this moment it's about the overall market and in my opinion for sure this is due to Dominance of Bitcoin and falling prices of Bitcoin.
Thanks for sharing this post with us and wishing you an great day. Stay blessed. 🙂