Market Snapshot - May 2nd 2018
Top 10 Cryptos
At the moment of writing top 10 assets were predominantly bullish, with 9 of them in green and 1 of them in red.
Bitcoin jumped back to $9,000 after briefly floating underneath that level and all the alts seem to breath a little today.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $3.95 on Coinmarketcap, up from yesterday.
The 1 hour chart shows a steady recovery from yesterday's losses, with 43.5k satoshis level touched again.
The 1 day chart shows a that yesterday's red candle turned into a green "hanging man", signaling reversal, and today's candle, while undecided, it's in green as well.
SBD was trading, at the moment of writing, at $3.34 on average, up from yesterday.
The 1 hour chart shows the same recovery pattern as for STEEM.
The 1 day chart indicates the new stabilization level would be around 36k satoshis
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, for 1 SBD you get 0.845 STEEM, slightly up from yesterday and below parity
Overall opinion: After a shaky Tuesday, markets seems to come back up. Bitcoin survival above $9,000 seems to be the key of this uptrend. STEEM is correcting upwards and SBD follows suit, but the parity is still broken.
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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SBD is slowly recovering back. But the difference between Steem and SBD may decrease in next few days.
This comment has received a 0.30 % upvote from @booster thanks to: @amity123.
BTC seems to be stabilized at support level of $9000.
So many comments on this post upvoted their own comment instead of upvoting the post, this is a bit concerning!
Quite worrisome if you may ask me and so annoying, such acts deserves some flagging. I mean how do you confidently upvote your comment on a post and leave the post without upvoting it too.
And why do you even upvote your comment in the first place when this is not even a contest post, maybe I would've said okay, perhaps you're trying to increase visibility for your comment. But this was wasn't even a contest or challenge post, such behaviors only reflect the true state of the user, which is greed and selfishness.
It is annoying indeed - I sometimes get people comment on my posts saying how great it is and they just upvote their own comment from 10 different accounts without upvoting the post. If we want Steemit to become a major player - we really do need to be a bit more generous towards other Steemians. I mean seriously, it will hardly break our bank if we upvote a post with our few cents.
Green is always great to see for those holding but it is just the reaction from yesterday bear move. Bitcoin is on a clear trading range around $9000 and It may be in this range for a while.
EOS seems to have ended its correction from the previous bull run and last night broke the downtrend channel. Still early to be sure the uptrend is back in but it is a nice indication it bulls are pushing strong again.
Finally, Steem remains basically on the same position form the past two days. Still inside the uptrend channel with a very low volume on the STEEM/BTC 1hr chart, but it seems to have started a smooth rebound up.
What do you think about the steem to SBD ratio in the future?
Since I showed up on the blockchain, the ratio was always between 0.9 and 1.1. These days it floats around 1.2. I do believe that Steem will leave SBD behind! Steem is registered on much more exchanges than SBD, so it will attract much more interest!
What are your ideas about this?
SBD should go back to the $1 peg. It worked like this for a long time and that's the initial design. As a witness, I support this trend by adjusting my price feed bias, so as to increase the SBD supply.
Thx for the response. Do I understand it correctly that it will become harder to grow in steem when the SBD is going back to $1?
Now the pay-out in SBD is 50% of what we are receiving, which is much more than the 50% in Steem.
I was wondering what I had to do with the SBD. But because I want to grow to Minnow status I am powering up as much as I can!
Happy moments :)
The markets are holding steady. It’s nice to see Steem flirting with $4 again. Thanks for the update!
This is good for steem bitcoin keeps leading the way for the altcoins, we may never know how long the correction will last though hodl still
Looking at sbd and steem this morning. there hasn't been an significant growth in steem as we can see with sbd. It seems steem has remained a bit stagnant while sbd is getting a bit bilullish. Well let's see what happens in few hours time.
steem and SBD is gradually flying upwards. It is a good sign.