Market Snapshot - June 23rd 2018
Top 10 Cryptos
At the moment of writing, top 10 assets were bearish, all of them in red, and one asset, EOS, was displaying double digit losses
There's been a very sharp decrease across all assets and now Bitcoin is struggling to stay above $5,000. EOS lost more than 10% in one day.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $1.35 on Coinmarketcap, sharply down from yesterday in fiat, and in BTC.
The 1 hour chart shows a sharp decline around 6 hours ago, which took the price from 23.5k satoshis to just above 22k satoshis, where it currently trying to maintain its ground
On the 1 day chart there are 3 consecutive red candles with increasing size and small wicks (downtrend is solid) and looks like it's going to continue on the same vibe
SBD was trading, at the moment of writing, at $1.07, down from yesterday in fiat, and in BTC.
The 1 hour chart shows the same dive as in STEEM, which took the price from 18.5k satoshis to 17.5k satoshis
The 1 day chart is looking bearish as well, on relatively low volume
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 0.799 STEEM for 1 SBD, slightly up from yesterday, and under parity.
Overall opinion: We're seeing a bloody weekend unfolding across the entire crypto spectrum. The only good news is that SBD is finally back at the peg, but STEEM is losing ground as well.
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 know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
The regulations requirement in Japan have very bad impact on the market
Tough weekend again for those expecting the market to finally turn around. It seems not to be prepared yet. Today I will focus on daily charts.
Bitcoin had a big bear day reaching February and November lows. If those levels do not support the bear trend we may see the price go down to $5000 which is September 17 high.
EOS also had a very bearish day but is still far from the lows from late March and early April. EOSNewYork announced a possible first airdrop which could reverse the trend.
No different news for Steem, the market has also reached early April lows. If that level does not support we may be reaching the values from the end of last year, around $0,9.
prices go down, I think it is a beautifull chanse to pick up some steem and/or sbd before the liftoff.
After the news of Mt. Gox ends Bitcoin sell offs, we can hope for some recovery in the markets...
Since SBD is so close to the peg, do you think the function allowing you to trade 1 sbd for 1$ worth of steem will be re-enabled soon?
You mean conversion? The one that takes 3 days to complete. Probably yes.
What are you thinking now about my 4K Bitcoin prediction from 3 days ago? :D
Same thing: markets are always right :)
For a certain usage of the word "right" lol
@dragosroua Sir i want you a question, as told that sbd is pegged to 1 $, now It almost reached to 1 $, my question is that, if the market goes future down like BTC reaches to 4000$, sbd will remain at 1 $ or it will also be affected?
Good question, my thoughts as well
Would probably be affected, in which case witnesses may resort to negative price feed biases, meaning printing less SBD.
But these day crypto goes to hell
OMG! what the hell is going on. Still bad news for crypto.... I don't know why?
Why?
The price comes down from overly optimistic fantasies.
or in other words, a little bubble plopped.
Still a little one.
Another day there is bloodbath in crypto market. SBD & steem ratio is creeping up like a trotoise. Let's hope for the best otherwise the situation is very poor. Thanks for the info @dragosroua