NEWS
In today's STEEM Report we will feature interesting Social Media news that could be a good sign for STEEM
Facebook loses US users for the first time ever and the rest spend 50 million fewer hours a day on the site (but profits are STILL climbing)
"Facebook's profits continued to climb over the course of 2017, despite a dramatic fall-off in the amount of time users spend on the site, according to the social media giant's fourth quarter earnings report today. For the first time ever, the social network has lost users in its most lucrative market, the US and Canada, dropping from 185 million last quarter to 184 million - indicating the potential for growth might have finally petered out."
Facebook earnings send stock to record after massive ad price increase
"Facebook Inc. shares reversed course to record highs after Wednesday’s earnings report, when the company reported double-digit advertising price growth amid massive changes to its core product."
Facebook Really Wants You to Come Back
"The social network is getting aggressive with people who don’t log in often, working to keep up its engagement numbers."
Market Overview
Before we begin to take a look at the STEEM and SBD market it is important to note that nearly all Altcoin markets are being driven by the Bitcoin price crashing. BTC was in desperate need of a correction and there is a good probability that we test lower levels, unfortunately Bitcoin is the ocean upon which all the Altcoins sail (at least for now). Some of the favorite Altcoins were hit hard today, Ripple was below $1.00 USD, Verge went to $0.05, and Cardano fell 20%. If you checked coinmarket cap then you know it is just a big red page. It does one well to remember Rothschild's quote, ""the time to buy is when there's blood in the streets" and he should know. Rothschild made a fortune buying in the panic that followed the Battle of Waterloo against Napoleon. So do your due diligence, read whitepapers, check on development team and if you feel it has value then you might find some good buys.
There was heavy trading volume over the past 24 hours. The trendline we have been referencing the past few days is still holding, however, the current daily bar is not considered bullish at all. Expect a retest of the trendline around the 0.00045000 STEEM/BTC. It is important to note that price did retest the 0.00057542 STEEM/BTC level we dicussed yesterday and Sellers violently rejected it. It will be interesting to see if Buyers can hold the trendline. If Sellers successfully push price through the trendline then we can expect a retest of the 0.0003450-0.00028606 STEEM/BTC level.
The Steem Dollar also saw slightly increased trading volume over the past 24 hours. We again tested the 0.00054125 SBD/BTC level and Sellers rejected it. There is a high probability that we will retest the 0.00033968-0.00035000 level.
This article is intended for educational purposes only and not meant to convey any financial advice. Trading can be a risky venture and personal due diligence is required.