After I finished my 30 days January challenge, I decided to continue to post these articles about the markets, but now without the pressure of a challenge. I will try to make them daily, but there's no guarantee. It would be nice to have a string of 365 articles, but I sense this would be rather difficult.
Anyways, let's go.
Top 10 Cryptos
At the moment of writing, top 10 cryptos were all in red, with 3 of them posting double digit losses.
This may be caused by two news: one about the US Government subpoena to Bitfinex and the other one about Facebook banning crypto related ads. Tokens with the highest growth: Ripple, Cardano and NEM, are the ones posting double digit losses.The bottom seems to have been hit a few hours ago, though and we can see a small reversal trend.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $5.09 on Coinmarketcap, sharply down from yesterday.
On Bittrex, the 30 minutes chart shows a steep downtrend, down to 42k satoshis, followed by a small indecision interval, then a sharp recovery, up to 50k satoshis, about 6 hours ago.
The 1 hour chart shows the same sharp recovery, on significant volume.
The 1 day chart reveals the first green candle after 5 days of correction. The size and type of the candle may be indicative of a reversal trend (or at least stabilization).
SBD was trading, at the moment of writing, at $5.36 on average, sharply down from yesterday. The 30 minutes chart on Bittrex shows the same steep downtrend, followed by a sharp recovery.
The 1 hour chart the same recovery pattern, but the gains are still below the losses of the previous interval.
The 1 day chart shows the same stabilization pattern as for the STEEM chart.
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, you could buy 1.059 STEEM with 1 SBD, down from yesterday and basically at parity.
Overall opinion: STEEM and SBD have been hit by the recent FUD news and the lower price of Bitcoin in fiat is making them feel cheaper, but their value in Bitcoin wasn't too much affected. SBD is basically at parity with STEEM and we may see it trading below it in the next couple of days.
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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