Market Snapshot - June 10th 2018
Top 10 Cryptos
At the moment of writing top 10 assets were sharply bearish, with all of them in red, and 4 assets posting double digit losses.
There was a very sharp dip on Bitcoin a few hours ago, and the entire market reacts fast.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $2.02 on Coinmarketcap, sharply down from yesterday both in fiat and in Bitcoin.
The 1 hour chart shows a very sudden drop in which STEEM lost 2k satoshis in just a couple of hours.
The 1 day chart suggests the price is testing a new resistance, around28k satoshis, turning back to the April levels
SBD was trading, at the moment of writing, at $1.50, , down from yesterday.
The 1 hour chart reveals the same dip pattern, following the Bitcoin drop
The 1 day chart is also at the April lowest level
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 0.737 STEEM for 1 SBD, up from yesterday, and under parity.
Overall opinion: Although we were expecting a move after the last few days / weeks sideways trading, I'm not very pleased with this sudden drop. It remains to be seen if Bitcoin will hit again the $6,000 level and what happens there. If it doesn't get that low, then this may be the last chance to get in before a new bull rally. As for STEEM / SBD, the only good news is that SBD is so, so close to the peg.
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.
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 |
What is the reason behind this sudden drop...
Sunday blody sunday!.
We had a sudden sharp downtrend last night and all cryptos are red this morning.
Bitcoin crossed the $7500 support line and now is heading towards $7000. Still not reaching the low it got at the end of May so maybe that level will hold the downtrend.
EOS was forming an ascending triangle these past days and it broke going down. We are in voting phase for the Mainnet so we can expect anything in the following days but I am confident the price will resume up.
Steem is also down sharply and now approaching $2. Next support is at $1,7 but I expect market reverses before reaching those levels.
everything at discount right now well no one can understand a whales mind
Everything is red and I think steem is all way going down to 20k satoshi. Bitcoin is also in bear trend. Not very good time for crypto market these days.
Really the best currency to invest
Special Price Offer
But the market is in decline now
It is really very alarming situation that with in hour market go down rapidly, if the Steem cross down the resistance line then its very bad behavior specially for new comers because they fed up of such dipping. anyways thanks @dragosroua for always updating the market position and scenario.
With the dip, I just hope Steem doesn't fall below $2 but I already pegged SBD to $1 on my mind
Does someone can predict if steem continues dipping down to $1.80 at least?
I don't think so. Markers will always do what markets want to do...
Ok thx a lot, I pulled the trigger now :)
Most cryptos in the downtrend. What is the reason?
Market is now freefall...
Steem is now almost only 2 USD....and SBD is 1.5 USD
What is the future of steem and SBD...