$STEEM/BTC Daily Poloniex+Bittrex Technical Analysis / Market Report Update #71, "Drifting further every day" Oct. 11, 2016.
Hello Steemers!
POLONIEX
4 hour Poloniex chart - Oct. 10, 2016
4 hour Poloniex chart - Oct. 11, 2016
1 day Poloniex chart - Oct. 10, 2016
1 day Poloniex chart - Oct. 11, 2016
The price went even further down without any hesitation, reaching 0.000415 BTC just recently, where it is traded around right now.
BITTREX
4 hour Bittrex chart - Oct. 10, 2016
4 hour Bittrex chart - Oct. 11, 2016
The Bittrex price made a brief stop at the 0.00045 support line but then kept going lower like Poloniex, making the 0.000415 local low and is traded right above it now.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Oct. 10, 2016
STEEM/BTC volume Bittrex Oct. 11, 2016
STEEM/BTC volume Poloniex Oct. 10, 2016
STEEM/BTC volume Poloniex Oct. 11, 2016
STEEM indexed global volume Oct. 10, 2016
STEEM indexed global volume Oct. 11, 2016
Coinmarketcap top volume cryptos Oct. 10, 2016
Coinmarketcap top volume cryptos Oct. 11, 2016
Overall volume about 60% lower then yesterday, $STEEM on 26th place on the volume rankings.
Poloniex volume about 200% lower then yesterday, ~108 BTC.
Bittrex volume about 40% lower then yesterday, ~37 BTC.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
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DISCLAIMER
I am showing multiple scenarios on the price movement, in the post itself I do not take any stance, either bullish or bearish. I am not responsible for neither you’re winning nor you're losses upon trading! the "comment" section is my personal opinion and does not mean I have to or do hold any positions in the given market.
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COMMENT
The price reached and dipped below what in my eyes was the lowest point it should hit, thus would make me think we might have a good chance for a bounce, but from what I saw recently on STEEM I would be prepared for some more downtrend.
Still in a heavy downtrend mood, looks like the price is aiming for as low as ~0.00033, which i Lined few days ago
Hopefully we will see a trend change coming soon.
This is getting seriously depressing.. Every purchase I've made had been immediately followed with a drop.. I had been really hoping for a bounce but couldn't justify hodling onto @steemleak funds any more and dumped just before it went down even further :(
Despite all the doomy talk I would still be buying this up if I could afford it
Man, I called this bitcoin rally 4 days ago.. Until this calms down all alts are in trouble.
I'm hurting a bit, got hardly any btc left and way overloaded on steem :(
Have mercy whales, you can buy that extra lambo next year stahp
IT WILL RISE HOLD
Wonder how much longer this Steem will go down in price. Perhaps good time to buy now.
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I would not buy unless I saw an upward trend myself, too many whales dumping there load because @ned and @dan are too (a bad sign they are more interested in money than they are in their project's success).
Why are the founders and whales dumping their loads? Not a good sign, I agree. The love of money always clouds any one's vision and goals, unfortunately.
I guess they doubt the value will go up, really only a guess as to why. It's a shame.
They are causing the value to go down by dumping it.
Exactly.
I wonder what would happen to the steem price if everyone simultaneously stopped powering down just for 24hr's?
follow daily publications, I see that you liked the subject of statistics, I Do It a query. which do you think is the problem of the falling price of steem, I hce three months sapped in a page and osilab a dollar value to this depreciation is? Thanks congratulations on the post valuable information
imho the biggest factor is whales powering down, but that will also, have a limit where the price will be abble to support those dumps, accumulate and then start going upwards again
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In my mind something needs to be done to slow the slide because we are caught in a death spiral... everyone is selling what they can while they can as the price goes lower every day. The only thing to snap something like this is a fundamental change... what that looks like I'll let the founders decide...
@jrcornel Maybe the saving account feature is a step in the right direction as it delays withdraws for 3 day's
It might be! But there is no explanation... does it pay interest? If so, how much? Does that mean just holding SBD will no longer pay interest? We need some better communication between the founders and the community...
@jrcornel I agree, Also steemit will have competition soon so they better step it up! https://www.yours.network/
I hope the founders are aware... maybe do a post about the competition coming? I will read it and vote for it ;) If you do make sure you send me a reminder to check it out
Just sent my email to yours.net
Did u sign up on the preregistery?
Being new to this it's kind of depressing to think that there is a possibility of not being able to make almost anything
Well, all hope for the best, even if it goes down let it be remembered for what it did.
It is a great idea. And it has a significant influence among the lives of so many.
However, nothing goes down that fast, it will most likely rise again.
Very good post!
Steem is going to hit single digits before the end of the year as I said previously on my charting. We should start to see a bounce between 2 and 5 cts.
good!