SBD Has Taken a Life of its own!

in cryptocurrency •  4 months ago

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Recent surges for SBD indicate that many crypto decisions are being made without rational reason. The technical analysis performed by some traders and bots will project price out based on past trends, however, if the currency is not fully understood (such as SBD being linked to USD over time), then trading may be more about the short term technical swings than the actual fundamental values.

All Time Price Chart Clearly Shows Timing of Spike

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So what is the true current value of SBD? Well the market system tells us it's whatever someone is willing to pay for it. Of course, that someone may have extra info not available to the rest of us...or they may be missing relevant info that would force the rest of us to sell at these prices. In the end, the buyers will be right if say next week, the price was even higher! So as with all investment in the (brave new) crypto space, do your homework.

My personal prediction is that there will be a classic fibonacci pattern over the next weeks. Corrections (of say up to 50%, followed by increases). The pattern will continue until the info that is driving this trend merges with true underlying value. The fact that there is no incentive to hold SBD for interest payouts (unlike say NEO) indicates that investors are purely speculating on something that may come in the future (some advancement to the platform where SBD have more value for example).

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don't know what to expect any more! cryptocurrency has been going up like crazy and i don't know the logics behind it all

Thanks for your insight, so much to learn about cryptocurrency!