Over the past week, we have been watching Bitcoin slowly fall (down ~12.5 since this time on December 21). After Bitcoin briefly passed 20K USD, the market began a large pullback- bitcoin has dropped ~28% since- which it has yet to recover from. Both Steem and SBD (Steem Dollars) have been strongly affected by this pullback and, in the last week, have fallen much more than BTC.
Over the last week, Steem has fallen by ~15% (from ~23,700 Satoshi to ~20,000 Satoshi) and shows no clear sign of stopping. In fact, my short term prediction- based off of technical analysis- is that Steem/BTC will fall at least another 5% over the next week.
Sadly, Steem's drop is greatly over-shadowed by SBD's drop of ~35% (from ~85,000 Satoshi to ~55,000 Satoshi). In the short term, I predict that SBD/BTC will fall at least another 5% over the next week, however, SBD show a few signs of a coming spike in the slightly longer term. I predict that in ~1-3 weeks, SBD/BTC will gain back some of its lost percentage and gain at least 20% (it is possible for it to raise above 85,000 Satoshi (where it started) but it is very unlikely).
That's all for this analysis,
Thank you for reading and Steem on!
~Jack
Remember: This is only my analysis, you should always do your own research as well before making any investing decision! This post is not telling you to buy or sell! Trade at your own risk!