What's good Steemit? What's good Team Australia? Hope you've all been notching plenty of upgoats and welcome to another overnight wrap. Was a little busy "modding" the MinnowBooster Discord channel yesterday and didn't get around to posting.
Congratulations to the minor draw winners of my SP delegation contest: @Walterz bagged him self a 4 week delegation of 300 SP and runner up @speedygonzales was stoked with his 4 week 100 SP delegation. Entries have closed, but the major prize is still in play and will be drawn next week. If you want to prop up the prize pool, swing by the post and drop an upgoat or two.
Here's the latest goings on in ...
Crypto Markets
Bitcoin traded as low as 2477 Wednesday, before finding a solid bid and bouncing back to end the day higher, just shy of 2600. Bulls will be looking to break above 2600 today, targeting 2700, followed by 2800. Still calling for 3000, though it's taking a little longer than I would have hoped:
It's a tough decision exiting a long based on technicals alone when you're fundamentally bullish, but looking at the ETHBTC chart this morning, I know I did the right thing. Pair finished both Tuesday and Wednesday lower and still looks a little heavy, having said that, I expect the bottom of the .085 - .097 zone to hold and I'm ready to go long again when she finds her wings:
Ether remains in slightly better shape against the USD, but still rather uninspiring and soggy looking:
Steem put in a beaut little rally out of support on Tuesday, taking Wednesday off to consolidate. Whether we're talking technicals or fundamentals, this is by far my favourite pair at the moment. It is extremely undervalued. When it does eventually break higher, equal legs target is .00128 (+110% from the lows).
Trading at 2.42 against the Aussie Dollar this morning and 1.84 against the greenback. Steem Dollars have recovered substantially, fetching $1.21 at Bittrex ... doesn't look like we'll be getting interest payments again just yet.
Like charts? Two of my colleagues from the forex world are now on Steemit and you should check out their blogs for more. Mostly forex charts at the moment, but I sense they are coming over to the darkside. Shout out to @forexbrokr and @furious-one.
Crypto News
Peak Bitcoin? I don't think so, but this snapshot of my morning google is pretty good:
I mentioned Goldman's +50% call on Tuesday and said it was a little cautious, now US equity research firm Standpoint Research is out with a call of 5K in "next few months" - CNBC had a chat with Standpoint founder Ronny Moas and it's worth a look.
In the US, a class action has been brought against Kraken exchange, with 5 of their (former) clients accusing the exchange of negligence. The exchange came under DDoS attack in May, causing a flash crash in the Ether markets, with clients losing hundreds of thousands of dollars. Kraken refused to cough up, saying they can't be held accountable for losses resulting from "unavoidable DDoS attacks" ... I have a feeling a judge might have a slightly different take on the matter. Coindesk has the full story
In related news, the biggest Ether exchange in the world, South Korean company Bithumb, has agreed to reimburse clients after a data breach resulted in widespread theft of client funds. (cc @Kraken). Coindesk has more.
Aussie News
Nothing really caught my eye in the way of local news this morning. There was a(nother) story about a peado priest, and the Acting Director of a Queensland hospital is saying this security guard just 'lost his balance', when he tackled a mentally ill woman trying to leave the hospital with her husband. This excuse always sounds a little dodgy and the CCTV footage is pretty damning. Both of those stories via ABC.
That's me for the day. If you enjoyed today's wrap, please swing me an upgoat and resteem. Also, if you're going to go around posting pictures of goats on Steemit, you should always attribute your source. Every time you don't give a picture credit, somewhere in the world a baby goat dies.
(pixabay.com)
( @bearone )