Market Snapshot - May 16th 2018

in steemit •  7 months ago

Top 10 Cryptos

At the moment of writing top 10 assets were bearish, with half of them posting double digits corrections.


Screen Shot 2018-05-16 at 9.58.56 AM.png


There's quite a sharp dip in the markets a the moment, but Bitcoin is still holding on above $8,000.

STEEM And SBD

At the moment of writing, STEEM was trading, on average, at $2.77 on Coinmarketcap, sharply down from yesterday.

The 1 hour chart shows a very consistent drop from 37k satoshis to 33k satoshis during the last 24 hours


Screen Shot 2018-05-16 at 9.59.17 AM.png


On the 1 day char, the reversal trend is stopped, the last green candle turned red and we're now in the middle of another red candle.


Screen Shot 2018-05-16 at 9.59.25 AM.png


SBD was trading, at the moment of writing, at $2.30 on average, sharply down from yesterday.

The 1 hour chart shows the same journey down, from 31k satoshis to 26.5k satoshis.


Screen Shot 2018-05-16 at 9.59.40 AM.png


The 1 day chart shows the same downtrend pattern as in STEEM


Screen Shot 2018-05-16 at 9.59.55 AM.png


SBD to STEEM Ratio

At the moment of writing, according to steem.supply, for 1 SBD you get 0.829 STEEM, down from yesterday and below parity


Screen Shot 2018-05-16 at 10.16.04 AM.png


Overall opinion: There's a very sudden dip in the markets now and some of the assets, including STEEM and SBD, are also losing value in BTC.

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.


Dragos Roua


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

It's free to use, but if you think this is a useful addition, I'd appreciate your witness vote.

Thank you!

Psst: new to Steemit? Start Here

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

What is the reason behind this sudden dip?

This is pretty sad and weird, taking into account that we are in the middle of consensus, we should be having a slight raise in prices at least :-P

·

I agree with you. The market is so unpredicatable

·
·

Well you could say its also part of why the market sometimes gets really fun and exciting to be apart of, but you never get what you expect with crypto and thats fun too!

On the 1 day char, the reversal trend is stopped, the last green candle turned red and we're now in the middle of another red candle.
Hope it gets on the track soon. Just hoping for best to come.

But I see that all the encryption sites are in a big drop
Is this a sign of a new upturn
M.Sc. the case of decline

Consensus's conference is doing so good even with entey ticket of 2000$.
Its a huge success!
You can see this recent pump is only due to Consensus's conference!

I can see cryptography market is at it's deep and this the best time to buy more coin to get profit

All cryptocurrencies moving down............OMG

Thanks my friend for the daily market update. Have a nice day

Thanks for the daily update my friend. It would be nice to someday see steem on the top ten crypto list

Just wait till the launch of SMT, that will give a kick start to the steem and Steem will flourish.

This update is just too timely for me, my account is about 2hours old, you can just imagine I know almost nothing yet about Steem and SBD.
I will follow you right away, so as to get get daily education and updates about the blockchain.

we are back on the red zone , this correction (if its really a correction) is taking to long, all major coins are down

Bitcoin is really making the trades worse now :(

I saw the hope that steem and SBD have been in the last 2 days
Today they are decrease...But , don't worry . Top all currency are freefall now..

Last night Bitcoin had a new downtrend approaching the price to the $8000 levels (4hr graph). This seems to be the fifth wave and price could reverse afterward, once reaching the support. Markets are extremely difficult to trade at present time so it is much better to stay away and wait for a clear high probability scenario.

 

EOS had a similar behavior and is now pointing towards the $10 mark after crossing the 200 moving average which did not hold the price.

STEEM almost punched the 32K satoshi support again and just bounced up with very low volumes, I think once volume comes in, the market will strongly react upwards.

When I see steem coming down, I say 'come on baby!'

That's quite a dip. Any ideas what's driving it? At least Steem is holding position. I reckon I'm a year we'll be laughing about these times, but what do I know?