Market Snapshot - April 16th 2018
Top 10 Cryptos
At the moment of writing top 10 assets were relatively bullish, with 6 of them in green and 4 in red.
After the market held rather well during the weekend, we're starting to see a small correction.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $2.59 on Coinmarketcap, down from yesterday.
On Bittrex , the 30 minutes chart is showing a small descending channel hitting resistance at 32k satoshis
The 1 hour chart puts the downtrend in perspective: if the 32k level won't hold, there's a lot of room to go down
The 1 day chart shows that the gains of the last week are still above the unfolding correction
SBD was trading, at the moment of writing, at $2.40 on average, slightly up from yesterday.
The 30 minutes chart on Bittrex shows a similar descending wave, hitting 29.5k satoshis:
The 1 hour chart suggests the next resistance level is now at 28.5k satoshis
The 1 day chart is mostly flat for the last two days
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, for 1 SBD you get 0.928 STEEM, up from yesterday but we're below parity.
Overall opinion: The markets are starting the week with a small correction. STEEM and SBD are holding relatively well to the previous gains.
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 look stable, making strong base for bull run....
STEEM and SBD always seem to spike, then pull back slowly. This was true in the bull market and during the recent pullback.
It'd be nice to see both, or either on a steady (what I'd call "strong") rise, where day after day they were rising - even if only a little.
The spikes feel like pumps, which considering the community & activity on the blockchain (and generally good ratings from outside agencies) doesn't add up for me.
I'm confident in the platform, especially long-term (and I'm not overly concerned about price), but it'd sure be nice to see the market performance showing some sustained strength.
We did have some of this patterns you mention at the end of last year, mostly related - probably - to new players entering the system, combined with some positive news about the advancement of the platform (the announcements of AppBase and SMT, specifically).
I agree that recent rises looks like pumps, which I find especially true about SBD. Given its very small market cap it was -again, probably - taken for a ride by some speculators.
Yea they are sure holding relatively well which is a good thing. And btc is also trying so hard not to go below the $8000 Mark.
Yep, thats correct, they are still holding well after the correction. Hodl all the way
Even that in the end of the days there is no much of a change in the rate , the market was very interesting yesterday and for some part the prices went up very strong , i assume we will have a green day today
Happy Monday @dragosroua! Thanks for the daily update!
Hello Dragos!
Since we are talking about the Market i want to ask you about jsecoin. As you notice as well we all have been rewarded with 2000% of the coins that we were holding and the mining as well from 0.05 to 1.
Is this a sign that the coin will be ranked very low in the market? I notice on their whitepaper that 1jsecoin will be 1 usd but still all this major changes... what do you think?
As well i hope you are not going to see what i am writting now as a spam but if you have time take a look on my page as i am writting about a new coin PRE which is a search engine on the blockchain and rewards the users for their searches... i think it's a very interesting project that you will find interesting!
Take care have a great week and looking forward to read your answer about the changes with jsecoin!
Re: JSEcoin modifications is just a move of the decimal point, it doesn't affect the supply. It is explained in one of their blog posts: https://jsecoin.com/token-economics-proposal/. I don't see how this will impact the token now, when it's not even listed.
As for PRE, looks interesting, I'll try to have a look later on.
Thanks a lot for the link... everything is very well explained on their blog. Glad to see that this will not affect the supply!
Looking forward to see the coin listed then the time will come...
BTC will cross 10K soon in 2 or 3 days.
Any insider info? Or just wishful thinking? :)
Hope to see BTC break 8,300 today this can take the market up very strong
9800 is going to be the next resistance for BTC...