Markets Snapshots - Day One
As I already announced, I'm starting a 30 days writing challenge. Basically, I will write each day an article on a topic that I'm interested in, or something that I'm just learning. I will tag these posts with #challenge30days, if you want to join, all you have to do is to use the same tag. Each day I will also pick 3 articles and give them a full upsteem. For all the details and the motivation, have a look at the introductory post.
Top 10 Cryptos
At the moment of writing, all top 10 cryptos were in green.
Bitcoin is stationary around $14k, Ripple is maintaining its newly conquered position as the 2nd largest crypto currency in the world by market cap, but Ethereum, probably following the announcement of the Casper PoS testnet launch, is catching up. Stellar is up one position and it continues the strong bull trend, pushing Monero out of top 10.
STEEM And SBD
At the moment of writing, STEEM was trading, on average at $3.13 on Coinmarketcap. On Bittrex, the 30 minutes charts shows 3 consecutive green candles, with upwards wick, on a moderate volume, which may indicate the price action may head towards testing the next 24k satoshi level.
The 1 hour chart paints a similar picture, with 3 consecutive green candles, recovering after a sharp decrease and making room for a cautious breakout. There doesn't seem to be enough volume for a quick trip upwards, though.
The 1 day chart gives more context and puts this small rally in perspective. After a consistent bull week, STEEM was correcting from levels as high as 25k satoshis, with a few days of touching below 20k satoshis, and now it looks prepared to start the climb. Again, not a very significant volume, so the trend may not be strong.
SBD was trading, at the moment of writing, at $7.94 on average. The 30 minutes chart on Bittrex shows high amplitude swings, on significant volume.
The 1 hour chart supports this pattern, but given the almost non-existent wicks on the last few candles, it may signify more price consistency, which may translate in a stronger trend. But this may also be because of low activity following holidays, so I don't think it's enough of an indicator.
The 1 day chart puts everything in perspective and shows, in fact, a sideways trading pattern, with small variations on small volume.
Overall opinion: cautiously testing 24k satoshi levels for STEEM, stationary with a small downtrend potential for SBD.
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.
https://steemit.com/~witnesses
If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
Very positive start for the first day of new year.... Happy New Year @dragosroua ...
We've come a long way...
we did... :)
Always love your crypto analysis posts. I have been thinking about Stellar & also read about it. Is it a great time to invest? 🤔
I don't know :)
It's Discovery Time then. 😎
Day 1: An introduction on how i got to know about bitcoin. https://steemit.com/bitcoin/@yukimaru/crypto-diary-of-a-newbie-day-1-my-30-day-challenge
This 30 days post challenge will it be on any topic?
Yes, whatever topic you learn about these days.
Okay sweet initiative sir, I will certainly have a shot at it.
i see stellar and ripple are on a steady rise, this two will be something to watch this year as more banks join the blockchain. i will join you in the 30 day challenge
...I have about as much to offer to financial speculation, as rock with a particularly low IQ, suffering from sleep deprivation....
I hope this description give you an indication of any input I could give.
Does this 30 day challenge allow for other areas of life? Or fiction writing, for example?
Happy new year!
Yes, of course! Write about something it's interesting to you, or something that you're learning about. Just write every day for 30 days straight. :)
Ok, cheers!
consider it done - my first lighthearted post in approx 10 minutes!(but serious)
i tinking sbd will bee 12$this month and steem maxim 4$
do you have any arguments for that, or it's just a hunch?
This is really important that you will start a 30 day writing challenge.I appreciate it because it will develop the writing skills actually steemit platform needed to writing skills to be a positive blogger.I guess it's the great work.Thank you so much@dragosroua
Lol.. i expected it.Whatever if the market thought it was pulling off something so new. Most people predicted this. So we are going, bitcoin you are still slow. Don't disappoint us.