Top 10 Cryptos
At the moment of writing, the top 10 crypto assets were sharply bearish, with 9 of them in red and one in green (Tether).
After a nice and steady trend, the bleeding came in a few hours. All top 10 cryptos are posting double digit losses. This market plunge may be related to this dormant wallet suddenly becoming active after 4 years.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $0.80 on Coinmarketcap, sharply down from yesterday.
On the hourly chart, STEEM saw a steep sell-off, driving the price below 13k satoshis, but it seems to stabilize now around 12.8k satoshis
The daily chart is down for the first time in 2 weeks
SBD was trading, at the moment of writing, at $0.95, down from yesterday in fiat, but up in BTC, and, technically, still at the peg.
The 1 hour chart is showing a sudden burst, responding to Bitcoin's dip
The daily chart is looking a bit up, but not too much
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 1.153 STEEM for 1 SBD, significantly up from yesterday, and above parity. Since SBD printing rate is 0%, rewards are paid now in STEEM / Steem Power.
Overall opinion: Given the sudden move down of the Bitcoin, and the potential reasons for it, I think we may expect the downtrend to continue. STEEM is holding on relatively well and SBD is struggling to maintain the peg. My outlook short term is bearish, and medium term neutral.
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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