This is my twentieth day from the 30 days writing challenge I'm doing during January. Basically, I'm writing each day an article on a topic that I'm interested in, or something that I'm just learning. I tag these posts with #challenge30days, if you want to join, all you have to do is to use the same tag. Each day I will also pick 3 articles and give them a full upsteem. For all the details and the motivation, have a look at the introductory post.
Top 10 Cryptos
At the moment of writing, top 10 cryptos were predominantly green, with only two tokens in red.
Bitcoin has the most consistent growth, with 9%, also marking the crossing of the $12.5k psychological layer, which may signal the beginning of a bull trend. ETH and Cardano both show 7% growth, while Ripple and Neo are seeing minor corrections. Although still in red territory, Bitcoin growth seems sustainable.
STEEM And SBD
At the moment of writing, STEEM was trading, on average at $5.32 on Coinmarketcap, sharply up from yesterday. On Bittrex, the 30 minutes chart shows two consecutive breaking up attempts, going as high as 50k satoshis, then stabilizing around 42k satoshis.
The 1 hour chart shows more clearly the two attempts and the stabilization almost at the previous value before the pumps.
The 1 day chart shows 4 consecutive days of upwards correction, but the last candle has a very long wick, suggesting downwards pressure, or bearish sentiment, still strong.
SBD was trading, at the moment of writing, at $6.72 on average, sharply up from yesterday, with almost 50% growth. The 30 minutes chart on Bittrex shows two breakouts similar to STEEM's, showing how SBD and STEEM are very closely coupled. The pump went as high as 65k satoshis, stabilizing around 53.5k satoshis.
The 1 hour chart shows renewed bull strength and the formation of an upward trend, on significant volume.
The 1 day chart shows two solid days of growth, suggesting that SBD may stabilize around 55k satoshis, or even break up this level.
Overall opinion: After another SBD pump, STEEM is seeing higher levels and both tokens seem to be supported by very positive sentiment. There is a pattern unfolding for the last 5-6 weeks, in which, during the weekend, SBD pumps, and for the rest of the week is stabilizing or correcting down. That suggests a lot of weekend activity, which doesn't come, usually, from institutional investors. This information, coupled with the latest news, may mean SBD/STEEM are, probably, very popular among domestic traders in South Korea. Just speculation, obviously.
Previous Posts In The Challenge
- Markets Snapshot - Day One
- Markets Snapshot - Day Two
- Markets Snapshot - Day Three
- Markets Snapshot - Day Four
- Markets Snapshot - Day Five
- Markets Snapshot - Day Six
- Market Snapshot - Day Seven
- Market Snapshot - Day Eight
- Market Snapshot - Day Nine
- Market Snapshot - Day Ten
- Market Snapshot - Day Eleven
- Market Snapshot - Day Twelve
- Market Snapshot - Day Thirteen
- Market Snapshot - Day Fourteen
- Market Snapshot - Day Fifteen
- Market Snapshot - Day Sixteen
- Market Snapshot - Day Seventeen
- Market Snapshot - Day Eighteen
- Market Snapshot - Day Nineteen
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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