Market Snapshot - August 9th 2018
Top 10 Cryptos
At the moment of writing, top 10 assets were predominantly bearish, with 8 of them in red and 2 in green.
Bitcoin stopped from its free fall around $6,300 and it shows a small bounce. The rest of the assets are following the same pattern but still to early to tell if the dive has ended.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $1.04 on Coinmarketcap, down from yesterday in fiat but up in BTC
On the 1 hour chart, STEEM is conserving the position it gained a few days ago, trading at around 16k satoshis
The 1 day chart is flat for the last 5 days around the same level
SBD was trading, at the moment of writing, at $1.05, almost identical with yesterday, in fiat but up in BTC.
The 1 hour chart shows that SBD is appreciating in Bitcoin (which is normal, since the USD value of BTC is going down).
The 1 day chart is again very stable
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 0.980 STEEM for 1 SBD, up from yesterday, and still under parity. SBD printing rate is 7%, down from yesterday.
Overall opinion: Yesterday's market move seemed extremely irrational to me and I still think it was a huge speculative move from some whales piggybacking the "bad" news from SEC (which wasn't neither bad, or news, for what matters, it was just business as usual). So, I believe the market will bounce back rather sooner than later. The fact that STEEM and SBD are reacting in a very healthy way to this situation is also positive, in my view.
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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Markets may be ready to bounce after a bloody journey.
Bitcoin had a third dowtrend leg which send the price to levels as low as $6150. The market bounced and is trading around the 78 Fib Retracement level. Stochastic shows strong oversold in the 4hr chart and volume is considerable let's see if bulls start taking control.
EOS had one of the strongest loses. Prince is back into the downtrend channel trading around $5.6 after bouncing last night. Strong volume in place and stochastic showing clear oversold.
STEEM finally hit $1 levels before ending the bear run and bouncing up. Volume is also considerable and stochastic shows oversold. All markets are giving clear signs of a reversal.
Steem and SBD are demonstrating their stability...
Perhaps This is a very good departing point up...
I see 5 Elliott waves forming... It's time for steem to bounce back and it will, trust me.
No signs of recovery there still bitcoin playing short and long games
Speculation is what makes the difference at the moment. Which shows that not real investors are in the game for now...just sharks
In any case these dives will probably lead to the exit those who were not supposed to be here in the first place...
Are steem and sbd really reacting in a positive way?really wana know what you mean coz all I could see was a constant down trend in steem most especially.
In fiat, yes, because Bitcoin was down. But look at the value of STEEM in BTC: it's stable. As for SBD, it's even increasing in BTC, to keep the peg.
thanks for the latest information
Going down and down.... bad situation.
btc price will fall more in some days.....it may go 5.7k
what is happening around :( :( Now we will have to wait for November to come with a good news.