The markets really took a dive today, but let's keep our posting routine, nevertheless.
Top 10 Cryptos
At the moment of writing, top 10 cryptos were sharply in red, with record losses.
Bitcoin is down under $9000 for the first time this year, while Ethereum plunged below $900. But the biggest bloodbath is in the "divas" area: Cardano, Stellar and Ripple lost each a third of their value.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $3.72 on Coinmarketcap, looking like it's free falling (which it isn't).
On Bittrex, the 30 minutes chart shows a relatively stable, albeit looking downward pattern, between 55k and 46k satoshis.
The 1 hour chart shows the two upswings from STEEM's listing on Binance, followed by a severe correction.
The 1 day chart reveals the same severe correction, but on very low volume.
SBD was trading, at the moment of writing, at $3.12 on average, also "free falling". The 30 minutes chart on Bittrex shows quite a dramatic dive 10 hours ago, followed by mostly flat trading.
The 1 hour chart shows a steeper downward trend than visible on the 30 minutes chart.
The 1 day chart shows that all the gains from the last pump are now offset.
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, you could buy 0.855 STEEM with 1 SBD, sharply down from yesterday and well under parity.
Overall opinion: The panic sell infecting the markets in the last 24 hours affected STEEM and SBD, but again, much less than the fiat values are showing it. STEEM is still doing relatively well, while SBD is heading down (as the increase in supply started to function). The low volume on these price decreases makes me confident, though, in a much quicker recovery.
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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I can't decide whether I should sell my SBD for steem, or wait and see if it hits 1/1 with it again.
Everybody please sell even cheaper. I am buying as this is the best sale of the year ;)
Hallelujah :)
I'm not buying yet but I am watching steem and sbd very closely. I think the time to buy is soon.
One of the reasons cryptocurrency was invented was to escape from government control. The governments can't control cryptocurrency but they can scare people that don't understand blockchain and decentralized currency from investing.
Governments will have some very limited "control" of currencies like bitcoin due to electricity prices. Bitcoin uses lots of electricity which is why I think it will fail. Unfortunately all the cryptos are tied to bitcoin but hopefully that will end soon.
Still red, FUD is present yet... what’s going next?? I think it’s The beginning of the rise 😄.
Thanks for this post man
i look forward to consolidating a nice foundation based on these low prices, and just wait for the prices to rise again
Just woke up here in the U.S., opened Coinmarketcap to see BTC below $8,000 and in a steady downtrend still. Looks like the dip isn't over, the bottom isn't here yet.
Hello, thanks for the information, somewhere I read that those candles that have a small body and a long cordon, as shown by some of your graphics, are called hang candles and these are present before a rise in price or a stable period in the price, what is usually called recovery.
I am not an economist or anything like that, my knowledge is empirically, in my last publication, I also mention that we should be alert and calm.
Regrettable the situation of RIPPLE, STELLAR and CARDANO, greetings from Aztec lands.
I think most coins were overpriced anyway. We need a correction. I still have confidence in Steem as it has real utility. Keep on holding!
Oh, and what a dip this is... Absolutely delicious :)
And here I was hoping to buy a new electric toothbrush this month with all that SBD. Oh well, back to using a high speed drill and a mop.
:))))
jajaja
when this will all end .. and all the coins start up again .. i will wait for it ..
@dragosroua
Think positive! Take this as an opportunity to buy cryptos at cheap rates :)
Good job ser.
Please fresh mind picture or video uplod
thank you for this educational post, I'm confident about Steem and Sbd, and it doesn't matter if it goes dip now as I'm involved in this projecyt for the long run :)
importent information....... @dragosroua
federal government of different country are creating panic on people who want to invest on btc,sbd and others coins so I think that is what cause the panic sell.
So should I sell my SBD to buy more Steem or should I hold on to my SBD and buy Steem with fiat?
Thanks for the analysis @dragosroua I am feeling just like the market, down but your words give me hope.
its the shopping time for crypto maniacs