Yesterday and specially today we are finally seeing a good move upwards on the STEEM price action and also on other “traditional” altcoins as MONERO, SIACOIN and NEM that were stagnant lately.
Despite we are still far below the 50 Days Moving Average (50DMA) it is really a good signal.
The 50DMA is one of the main tools/indicators used by the traders. STEEM will need to break that line for a few days in order to reaffirm a consolidation state and a initial indication of a possible Reversal.
Typically people used to trade around this line, because a breakout upwards very often indicates a Bullish Scenario while downwards is, of course Bearish, however we have to be very careful here because there are many traps already “programmed ” around the breakout.
So, in order to consider STEEM out of “Bears Jaws” we have to break that line and stay around or above for a 3 or 4 days more.
I’m not trading STEEM at all but buying small quantities these days however I am crossing fingers to see this scenario occurring soon.
@toofasteddie
Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
Been a long time since I did an analysis of the steem price chart. However, a loyal reader and fellow steemian @chrisrice put in a request and I am happy to oblige.
The More Things Change The More They Stay the Same
If you look at the top of the post you will see a zoomed out view of the daily price chart for steem. The good news is the price action and levels are rather obvious even to the naked eye once the support/resistance lines are laid out as in that chart.
So here’s the thing. We can see long-term price levels when looking at that chart. We can see how they have come into play and to be honest how all of them have been reached with the exception of the level roughly around 10 cents.
At this point, can we expect price to make a full round trip? As in go all the way back to the low it start its prior upward journey from?
Looking at this price action is sort of feels like a self-fulling prophecy.
I say this even with all the good thing going on with steem right now. I think there are some many projects and initiatives (steemleo, splinterlands, etc.) that are pro steem value. However, it takes time for these things to have an impact on the actual demand for and price of steem.
Crypto Market is Weak
The entire crypto market is weak right now to boot. Steem is at 12 cents while a write this. 10 cents is just a mere move away.
Daily chart zoomed in makes it more clear
I’m fine with it hitting ten cents. My worry is that won’t be the bottom. That support area goes into the 9 cent area, but if we go sub 9 cents then the only downside target left is the all time low around 5-6 cents.
So basically I’m rooting for us to test 10 cents and create a bottom there, again.
Then we can focus on upside targets – which would start with this 16 cent area that is now our last little consolidation area before trying to make a run at 20 cents.
Champions League Finals 2021 will be held in Petersburg but it has not yet been confirmed yet. But as for the 2022 the finals of the Champions will be moved back in Munich. For so many years since Bayern Munich played Chelsea at the Final la in Munich the Finals of the UEFA champions league has not been moved there but now it has been confirmed that they will play the 2022 Finals in Munich. UEFA has organized alot of seasons of the UEFA. champions league at first the name wasn’t UEFA champions league but it was European Champions Clubs Cup and then later on was changed to the UEFA Champions League. It has been a great tournament since. When the name was changed they have played almost 30 seasons since it was changed to UEFA Champions League. This has been the greatest League of all. Nice job to all those who voted for the 2022 Finals to be played in Munich thank you very for stepping by have a great day.
Racism has rise up again in football and this is making some of the footballers feel uncomfortable when playing because they always hut at them. So before the Fifa President will deliver the plaque to Messi as the Best Fifa Mens Player he made a speech on the racism matter that it should be out to a stop because it has been so long and is about time they stop it and remove it from soccer. I am very happy to hear that from the Fifa President. Because football is fun so there shouldn’t be any form of racism in soccer. He also added that people should to kick the racism out of soccer so that everything will move on smoothly. What is your opinion on what the Fifa President said. Share it in the comments below. Thank you very much ….
I do not know about you but I think we have lost something important lately due most likely to the new reward system…
Don’t get me wrong, this is not a complaint at all about the new code of STEEM but, in my opinion, since a couple of weeks ago the comments received on my posts have reduced in number drastically…
Honestly, I am not the kind of person willing to “earn” something by commenting but if I feel I have to express my opinion, feelings or gratitude I am commenting always, not expecting an upvote there but maybe building a good relationship with the author.
Perhaps, the aim of this attitude is to find authors-steemians that you like or you are mostly aligned with their thoughts and so, obtaining mutual “engagement” as a reward.
Aversely, having a look to the steem.supply tool from @dragosroua , my level of “engagement” has increased substantially, being the quotient between upsteemers (people that have upvoted me lately) divided by my total number of followers of about 18% while 1 month ago was around 11%.
Suddenly I am receiving a lot of upvotes, sometimes more than a hundred per post despite 90% of them are at the dust level threshold, I think this is good fro me since there is people that likes my posts…
Also, another tool which evaluates the attention rate of an author is the SNAX rank. Here my rank is high, I suppose, since I am located at the 327th place of the steemians active and registered at the SNAX blockchain…
17 posts done in a week, 514 upvotes, 47 comments and 1 resteem…
17 posts and 47 comments in total, this is 2.7 comments per post, the majority of them are related with @actifit or BEER or@runningproject resteem service…
I think that, as an average, I am getting 1 or 2 comments lately per post while 1 month ago they were much more…
As a summary, HF21 / 22 has brought me more upvoters but also has taken the comments … And it’s the second thing that I’m missing the most lately…
I have not changed my behavior in front of my commenters, I used to reply and give them and upvote on the majority of them and, sometimes, I offer some BEER token in order to balance the small lost on rewards due to the new rewarding system which for sure has something to do in order to explain the reduction of comments but, maybe, I was not expecting such a huge reduction at all.
Anyway, perhaps would be better to do this analysis in a better period of time, once we escape from the claws of the bears…
By my side, I am going to keep commenting, upvoting and supporting others since networking and engagement are the most valuable assets for the sake of oneself and the STEEM blockchain success.
Hong Kong-based venture capital group CMCC Global launched its Liberty Bitcoin Fund to provide crypto currency access to accredited investors in Asia who are very interested but have been slow to buy the coins directly.
The Liberty Bitcoin Fund is a single-asset passive tracker of Bitcoin and offers services including buying and safekeeping coins.
“We have received more and more questions over the years from our existing investor base about whether we could help them buy Bitcoin,” Martin Baumann, managing partner of CMCC Global, told CoinDesk. “The new fund is really a demand-driven.”
EOS is the world’s seventh-largest blockchain by market cap, with a value topping $3 billion since February 2019. However, the project has long been plagued by fears that its structure was too centralized, and now the lion’s share of entities that govern the chain are in China, prompting fears of state intervention.
EOS contributors devoted to building decentralized apps (dapps) and development tools for the blockchain are losing clout – and making little or no money from contributing to the health of the ecosystem. One of them publicly disavowed the blockchain earlier this month, citing the excessive power of the largest EOS token holders.
Block.One, the company that launched the code behind EOS following a $4.1 billion ICO, is the largest token holder. Critics say it could easily redefine governance on the chain but has yet to take action.
For the past few days, the price of Bitcoin (BTC) has been hovering above the 20 Moving Average (MA) and drawing closer to the moving average as volume continued to taper off and lower highs were set each day.
The digital asset began to look bearish on multiple time frames and it seemed that a downward move was more likely than any other outcome. Once the 12 Exponential Moving Average (EMA) dropped below the 26-EMA on Sept. 16, aggressive intraday traders correctly predicted a double bottom bounce at $10,075.
Crypto exchange Binance is planning to add over-the-counter (OTC) trading to its platform in a month to provide users with fiat currency gateways.
Binance’s co-founder and chief marketing officer He Yi said at a media session on Tuesday during the Shanghai Blockchain Week that the exchange will specifically support fiat on-ramp via OTC for Chinese yuan.
He added that the new service will be part of Binance’s plan in the coming months to dedicate more time and resources to compete in the Chinese market. Further, the exchange is also rolling out a payment service to allow users from 170 countries to buy crypto assets using fiat currencies at Binance.com.
Fiat-to-crypto OTC trading has been a critical part in terms of fiat on-ramp for crypto traders based in China as local authorities prevent the direct connection of exchanges to banks and fiat deposits as part of the ban on initial coin offerings in September 2017.
The United States Securities and Exchange Commission (SEC) has sued ICOBox and its founder Nikolay Evdokimov for conducting an illegal securities offering and for acting as unregistered brokers.
SEC says ICOBox’s digital tokens are worthless
In a press release on Sept. 18, the SEC claimed that ICOBox and Evdokimov sold the firm’s ICO tokens to more than 2,000 investors in an unregistered coin offering in 2017.
The SEC goes on to say that the defendants claimed that the tokens would increase in value upon trading and that ICO token holders would be able to swap them at a discount for other tokens promoted on the ICOBox platform. The SEC claims that the ICO tokens are now virtually worthless, adding:
“By ignoring the registration requirements of the federal securities laws, ICOBox and Evdokimov exposed investors to investments, which are now virtually worthless, without providing information that is critical to making informed investment decisions.”
“The next meeting is to be held at LTO office, and results to be presented on September 19.”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
Yesterday I was talking to you about a W pattern which is a bullish signal. Look today the acceleration of the move. We could go test the resistance line at 0.178$ very soon and it would be a very good news if we can break it. Let’s wait my friends and let’s hope the BTC won’t correct in the coming days.
Bitcoin (BTC) could soon shoot to $20,000 as a result of emergency measures from the United States Federal Reserve, also known as The Fed, one of the industry’s biggest firms has said.
Fed echoes 2008 crisis moves
In a tweet on Sept. 18, Arthur Hayes, CEO of derivatives giant BitMEX, forecast that fresh quantitative easing (QE) would further decrease faith in fiat currency.
The comments come a day after the Fed swooped to decrease interest rates on some loans which reached more than 10%, or four times its target. More than $53 billion was pumped into the economy.
“QE4eva is coming. Once the Fed gets religion again, get ready for #bitcoin $20,000,” Hayes wrote.
The Fed’s QE injection marked its first emergency intervention since the end of the 2008 financial crisis, an event directly leading to Bitcoin’s creation.
Bitcoin has dived out of a narrowing price range and may see a deeper drop if key trendline support near $10,120 is breached.
Acceptance below $10,120 would expose the recent low of $9,855.
Some notable observers believe the decline may be reversed following Wednesday’s Federal Reserve rate cut, although historical data suggests otherwise.
On the higher side, $10,956 (Aug. 20 high) remains the level to beat for the bulls.
The number of Bitcoin (BTC) wallet addresses holding a minimum of 10 BTC — worth over $100,000 to press time — has hit an all-time high, multiple data sources reveal.
According to BitInfoCharts’ Bitcoin Rich List, as of Sept. 17, there are 157,210 addresses holding between 10 and 1,000,000 BTC.
Earlier this month, Coin Metrics’ State of the Network report had plotted the latest data historically to reveal that these mega-holders are at an all-time high for the network.
Binance.US, United States branch of major cryptocurrency exchange Binance, announced that the opening of accounts registration, scheduled for Wednesday, will not include New York, Washington, Florida and 10 more states.
According to the blog post published on Sept. 17, registration will start at 8 a.m. ET on Sept. 18 in most U.S. states, excluding the following: Alabama, Alaska, Connecticut, Florida, Georgia, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas, Vermont and Washington. The post continues:
“Although it is upsetting that we cannot offer Binance.US in [these] states […] at this time, please rest assured that this is just the beginning, and it is our mission to bring access to those of you in these states many of us call home.”
Employees at cryptocurrency news publication CoinDesk were told Tuesday that the firm is moving into office space in the same building as its parent company, Digital Currency Group (DCG), a transition that will take place in March 2020.
In an email sent to employees, his first ever to CoinDesk’s entire staff, DCG founder and CEO Barry Silbert outlined four reasons for the move, vowing that while seeking to create new business synergies with the media company, one of three wholly-owned subsidiaries, the parent would continue to respect and strengthen the editorial independence of the publication, founded in 2013.
The other two subsidiaries, Grayscale Investments and Genesis Trading, work out of the DCG office building in Manhattan.
DeFi Asia in Shanghai from 2:30 – 5:30 PM (CST), co-hosted by Harmony, Findora, and Algorand.
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
What a nice pattern that we have on the STEEM. We have a W pattern or a double low if you prefer that we can clearly see on the chart. For the one who still don’t know that pattern, it is a bullish pattern ! It looks like that the Alt Coins are taking back some percenst of the global market compared to BTC. We are still far from the Alt Season that we experienced back but it could be the start… why not ? Regarding the STEEM, let’s see if we can go test the resistance line in red around 0.178$.
As I wrote in previous blog posts, I reinvested in STEEM ahead and after the HFs.
After cruising, interacting and curating Steemians posts, I can say now I like the #newsteem better than the old one. This is a feeling but I believe people came back to the platform and interractions / payouts are less skewed thanks to some bots switching to curation and some whales “playing the game”.
Below I am going to share with you some datas that I believe should make us optimistic about STEEM future.
The number of Bitcoin (BTC) wallet addresses holding a minimum of 10 BTC — worth over $100,000 to press time — has hit an all-time high, multiple data sources reveal.
According to BitInfoCharts’ Bitcoin Rich List, as of Sept. 17, there are 157,210 addresses holding between 10 and 1,000,000 BTC.
Earlier this month, Coin Metrics’ State of the Network report had plotted the latest data historically to reveal that these mega-holders are at an all-time high for the network.
Cryptocurrency exchange Binance, the world’s largest by trading volume, has made a strategic investment in Chinese media and data source Mars Finance.
According to a report from Bloomberg citing a press release, the investment amount was not disclosed, but values the company at $200 million.
Aside from Binance, which reportedly made its first strategic investment in China with the round, Beijing-based Mars Finance was also backed by Ceyuan Ventures and Matrixport, a financial services startup founded by co-founder of bitcoin mining firm Bitmain, Jihan Wu.incorrectly applied.
The United States Army Contracting Command (ACC) of New Jersey has issued a pre-solicitation notice for cryptocurrency investigation service providers.
As a pre-solicitation, posted on July 25, the notice and the ACC’s responses do not bind ACC to solicit or award a contract.
For use in criminal investigations
According to the ACC, the cryptocurrency analytics solution is being sought for use by the U.S. Army Criminal Investigation Command (USACIDC) for use in criminal investigations and other missions.
The notice outlines that the contractor must provide a cloud-based, online service — not reliant on hardware or software — that can assist law enforcement in identifying and pursuing actors using cryptocurrencies for illicit purposes such as fraud, extortion and money laundering.
“We are proud to announce that BiblePay will be listed on TOKOK on September 17th!”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
Today, we tested and broke the support line at 0.155$ during some hours but it looks like the market want come back upper than this line. We need to check now if this is not a pull back before the continuation of the drop or if that break was just a trap from the market to buy some steems at a very good prive. Let’s see if the current candle will close upper or lower than the support line at 0.155$.
As I wrote in previous blog posts, I reinvested in STEEM ahead and after the HFs.
After cruising, interacting and curation Steemians posts, I can say now I like the #newsteem better than the old one. This is a feeling but I believe people came back to the platform and interractions / payouts are less skewed thanks to some bots switching to curation and some whales “playing the game”.
Below I am going to share with you some datas that I believe should make us optimistic about STEEM future.
As seen in @penguinpablo ‘s statistics (link here)
Accounts transacting are increasing steadily since last week to reach 39,647 on week 36 of 2019 (vs 34,958 the previous week)
STEEM Power up !
Most importantly, the Net Power up was STRONGLY positive last week at +977,939 ! Something we didn’t see for months !
As shown in the tables below, Week 33 saw the biggest net power up at 363,873 STEEM over the past 8 weeks.
To add to these great numbers, other Steemians (as myself) have been BUYING STEEM on Exchanges ! More than 1,145,000 STEEM have been purchased FROM exchanges
In addition, do not forget that @steemit inc. announced they would pause their power down for a few weeks which should help STEEM prices.
Daily Users
Looking into @arcange statistics I could also some good news, Active users remain stable and sit at the top range of the past weeks (c.40k daily). If we continue to promote and curate good contents, these numbers could be finally increasing and sit passed 50k as it used to a few months ago
Transactions
Transactions on the STEEM blockchain are also healthy and should remain high as many projects continue to onboard users (@steemmonsters, @actifit, @steemhunt, @appics, @esteem …)
Inflation
As stated by @jrcornel, STEEM inflation is quite reasonable versus other altcoins and is supposed to decrease below 8% in 2020 to reach 0.95% in 2037.
Current Price and Market Cap (53,472,257 USD). Sits at Rank 80
Maybe we are sitting at the bottom, only time will tell, but overall I want to emphasize that this #newsteem as much higher changes to go up than before for all the points mentionned above.
I know that you all probably believe in STEEM if you read this, we have to continue to get the words out as some of us are doing on Twitter or other social medias.
What do you think?
I would love to hear your opinion on this subject. I will set a 10 STEEM @steem-bounty to open the discussion.
History looks to be repeating itself in the bitcoin market, as a key indicator’s bullish turn could mark the beginning of the next meteoric price rally.
The world’s most valuable cryptocurrency’s price action seen over the last eight months is very similar to the moves seen in 2015, according to Bitstamp data. For instance, the bitcoin bear market ended near $3,100 in mid-December 2018 and prices built a base below $4,000 in the following three months before breaking into a bull market on April 2.
Notably, the bear market drop ran out of steam two months before the 50- and 10-week moving averages confirmed a bearish crossover (in February 2019).
The CEO of cryptocurrency exchange Binance has dispelled fears a bad actor had attacked its newly-launched Bitcoin futures platform.
Technical error crashed Bitcoin price
In a series of tweets on Sept. 16, Changpeng Zhao, also known as CZ, initially warned that the exchange’s futures were under attack from one of its own market makers.
The perpetrator allegedly crashed the BTC/USD order book from $10,324 to $10,024, in what Zhao said was the second such attempt at an attack.
Binance launched its futures platform in invite-only mode following a user testing period earlier this month. Two platforms were originally available, with users voting for their preferred choice.
The computing power dedicated to mining bitcoin has hit yet another new high, suggesting that more than 600,000 powerful new machines may have come online in the last three months.
According to data from crypto mining pool BTC.com, bitcoin’s two-week average hash rate has crossed another major threshold, reaching 85 exahashes per second (EH/s) around 19:00 UTC last Friday. Meanwhile, mining difficulty also adjusted to a new record of nearly 12 trillion.
Notably, both figures have jumped 60 percent since June 14, the data shows.
Bitcoin’s mining difficulty – a measure of how hard it is to create a block of transactions – adjusts after 2,016 blocks, or roughly every two weeks. This is to ensure the time to produce a block remains around 10 minutes, even as the amount of hashing power, deployed by machines around the globe competing to win freshly minted bitcoins, fluctuates.
Most of us think we understand the term “volatility.”
We digest headlines about tense political situations around the world; we are wary of explosive chemical compounds; some of us have had relationships with their fair share of ups and downs.
“Volatility” implies sharp and unpredictable changes, and usually has negative connotations. Even when it comes to financial markets, we intuitively shy away from investments that would produce wild swings in our wealth.
But volatility, in finance, is usually misunderstood. Even the most commonly accepted calculation is often incorrectly applied.
The South Korean arm of cryptocurrency exchange OKEx is removing support for five major altcoins due to new international regulations.
FATF rules halt privacy coins trading
According to crypto news outlet The Block on Sept. 16, OKEx’s Korea unit will halt trading of Monero (XMR), Dash (DASH), Zcash (ZEC), Horizen (ZEN) and Super Bitcoin (SBTC) on Oct. 10.
The reason, says the exchange, is that as since they are focused on privacy, the coins fall foul of new guidelines set out by the intergovernmental body the Financial Action Task Force, or FATF.
As Cointelegraph reported, the sweeping changes to crypto transaction rules demand businesses to identify the two parties sending funds to each other if a transaction is worth more than around $1,000.
“I would like to inform you regarding the upcoming hard fork. I have decided to implement it on block 216000 (approx 16th of sept).”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
Today, we continued the bounce started yesterday. We have higher lows so the trend is not broken, even we have a low volatility. I think most of altcoins are also waiting to see the direction that the BTC will take and this is why most of coins are very quiet these last hours. However, there is nothing negative for the STEEM today, exactly like yesterday, se we can again enjoy about these positive news.