Top 10 Cryptos
At the moment of writing, top 10 assets were bearish, with all of them in red.
Bitcoin is holding its ground - for now - above $6,100, but the bear pressure seems consistent and there aren't many factors to point in the direction of a stabilization, let aside a reversal. The other assets are reacting to the market with various amplitudes, the highest loss is on BCH. To be noted that, along with the decrease of the total crypto market capitalization, Tether is making its way in top 10. As stated by the founders, Tether is backed 1 to 1 with real fiat and it's intended to be a replacement for dollars, a "stabecoin".
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $1.28 on Coinmarketcap, down from yesterday in fiat, and in BTC.
The 1 hour chart shows that yesterday's spike was corrected immediately and now STEEM is hovering around 21k satoshis again
The 1 day chart suggests stabilization around 21k satoshis, as the last few days didn't move too high or too low, but given the very low volume, the probability is not that big
SBD was trading, at the moment of writing, at $1.05, down from yesterday in fiat and in BTC.
The 1 hour chart shows the same correction as in STEEM, with SBD trading again slightly above 17k satoshis.
The 1 day chart is relatively stable and no consistent signs for ups or downs are displayed at the moment
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 0.823 STEEM for 1 SBD, almost identical with yesterday, and under parity.
Overall opinion: The bear movement continues and I will personally prepare mentally for a $5,000 Bitcoin. That will impact the other assets as well, which means we may see again STEEM under $1.
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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