Market Snapshot - March 3rd 2018
Top 10 Cryptos
At the moment of writing top 10 assets were predominantly bearish, with 3 in green and 7 in red.
It's interesting to note that the only bullish assets are the "good ol' ones": Bitcoin, Litecoin, Monero. The recent "stars": Cardano, Ripple, Stellar, EOS, are all posting losses.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $3.44 on Coinmarketcap, up from yesterday.
On Bittrex, the 30 minutes chart shows sideways trading in a 1k satoshis corridor, between 29.2k and 30.2k satoshis.
The 1 hour chart shows a small upward correction after consistent losses.
The 1 day chart shows very small variation around 29k-30k satoshis.
SBD was trading, at the moment of writing, at $3.72 on average, up from yesterday. The 30 minutes chart on Bittrex shows a sudden spike in the last half an hour.
The 1 hour chart confirms the pump, with a long, solid green candle.
The 1 day chart puts the pump in perspective: it's still very small, compared with previous weeks losses.
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, you could buy 1.073 STEEM with 1 SBD, slightly down from yesterday and still on a bearish trend.
Overall opinion: Seems like only the "old fashion traders" are playing these days (Bitcoin, Litecoin, Monero are looking upwards). The recent hype seems to vanish, which I consider to be a good thing, because it's odd to see in top 10 cryptos 2 tokens which are not yet fully released (Cardano and EOS). STEEM and SBD are pumped again on Korean exchanges, it remains to be seen how much stamina is behind this new attempt to drive the price higher.
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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BTC seems to be again dominating the crypto market cap , which is constantly growing...
As far as Steem and SBD are concerned, I've mostly been noticing that the daily trading volume seems to be getting smaller and smaller... the downward trend almost has the feel of a small trickle of people trying to "leave the game," and nobody stepping in to take up the slack. But hey, I'm no analyst!
Me neither :)
But I dare to disagree. Small volume shows caution, not necessarily the desire to leave. This usually happens with bigger "dumps". The sentiment is obviously different from what we had in December / January, but I don't think is yet at the "leave it" level.
Really I think the recent pumps hasn't been so significant enough to keep the prices that way. They pump it this minute and the next minute it is going down again.
Thats true @sistem. The recent highs could turn to lows by the next minute, all we can do is hope
I used to be a crypto novice but by consistently reading your posts, I'm getting enlightened more and more. I've been seeing bullish and bearish for some time but decided not to ask for the meaning. Never even checked a dictionary for it. With this post, I have gotten it. Thanks.
There is no cause for worrying if the old fashion coins are appreciating. It only means they rill get to a point and the newcomers so to speak will have space to grow too.
its certainly a good time to stock up on SBD at the moment, maybe not the best time for converting it into steem or steem power, but hopefully the SBD: steem ratio starts to creep up again soon!!
Good information....
.
informative post.....your analysis is perfect.....
in fact doing perfact analysis need more and more big ability....
thanks for sharing....
well i think steem is about to break out after the selling off in huge volumes
Bitcoin dominance increased 2% in past two days everyone now moving in to btc due to FOMO