SBD: A Commonsense Analysis
The crypto world is, no doubt, presently facing a market deep. As expected, the prices of the major cryptos, alongside the altcoins, have crashed by an average of at least 25% to 30% in the last 7 days. And the correction is likely to continue into the weekend with Ethereum projected to fall below $490. Of course, ETH will not go down alone. It will, most likely, drag with it other altcoins.
Today I will be giving a commonsense analysis of an altcoin known as Steem Backed Dollars (SBD). I am doing this because some of the big guys here have failed us severally with their cumbersome charts. So, I want to reach out in a clear language, language that laymen will understand.
SBD, Time to Hold or Sell?
A golden rule in crypto trading is to never sell when there is a deep; you hold and wait, wait patiently. So, going by this rule, it is in your own interest to hold SBD and not to sell it.
However, beyond this golden rule, you should hold SBD now because the price is about to spring. I will tell you why:
Every coin has a unique personality. The personality of SBD from historical facts is that it goes vertical whenever it touches $1.5 to $1.6. For instance, in November 26th 2017 SBD traded for $1.6. Less than a month later, SBD went vertical and reached an all-time high of $13.7 which is about 850%.
Similarly, on April 2nd 2018, SBD touched a bottom of $1.5 and then went vertical to $3.8 in less than a month, delivering a profit of 250%. Presently, SBD trades for $1.7. So what does commonsense tell us? It is simple, that the price of SBD is about to go vertical, that history is about to repeat itself. I can only hope that you will not get missing in action.
What Happens When SBD Gets Listed on Binance?
There is an ongoing campaign on Steemit to list SBD on Binance. As you probably know, Binance is the third largest crypto exchange in the world. When this campaign succeeds, as I strongly believe it will, the price of SBD has the potential of going vertical into the orbits. This is because the demand for SBD will increase astronomically, creating scarcity and a concomitant increase in price.
From some insider hint, SBD will get listed on Binance in a few months time. I trust you will be here then to have a bounty harvest as SBD heads to the moon.
Disclaimer
The views expressed in this essay are my personal opinions and do not in anyway translate into a financial advice. Anyone who is willing to invest in cryptocurrencies should do proper assessment before he or she invests.
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The whole premise of SBD was to be pegged to the USD so why did the price get so out of whack? If the design of the system was for SBD to be with 1 USD, then isn't it good for SBD to go back to 1 USD?
It is pegged to lower bound (SBD should not go below one USD) but SBD has no upper bound limit. If anybody buys SBD at $1.50, maximum loss is calculated to 50% but gain is unbounded which is better than lots of other coins (even STEEM can go beyond one USD).
Well, the system has been designed to peg SBD at $1 but unfolding events have proven that the system has no power over price; the forces of demand and supply does. So, let's see what unfolds.
This is a very interesting and informative post. Brief and to the point, but it also contains sufficient info to give us an overview of the situation and various insights into it.
The facts about those times when SBD goes vertical is news to me, as is the possibility of Steem being listed on Binance.
I strongly suggest you make this an ongoing series (with one easily recognizable thumbnail icon.)
You'll surely get more and more return readers.
Thanks for taking your time to go through this post @majes.tytyty. Your comment means a lot to me, as I hold them in high regard. I am glad you find this post interesting. I will heed to your advice to make this a series once my friend helps me with the thumbnail design.
Regards sir.
Good advice. I admit it when it comes to crypto, I'm still relatively clueless, but learning.
Yes and I hope that you will learn fast. I like Steemit because of the opportunity it provides to learn a whole lot of amazing things including cryptos.
I agree. Hodling is the only option when prices dips. My own cryptocurrency invest has remain only 50% of the initial value. I made a mistake that I didn't sell my asset when the prices were high.
Anyway good advice my friend.
The great thing is that you've learnt your lessons on how not to invest in cryptos. There is a principle which says, run and don't look back when the profit comes overnight.
The good news is that you'll recover and do just well again. Regards.
what a slap hahaha :)
ps. isnt holding steem better than holding on to SBD?
obviously upvoted
Thanks Piotr for your comment and upvote. I appreciate you a lot. Holding Steem as Steem Power is, I believe, better than holding SBD in the long run. However, in the short run, holding SBD may prove more profitable.
Sound words of wisdom : -o Steem is the way to go as mastery of the bots and keywords are great ways to enhance your investment. I would like to combine effort on a project or two if your willing. I could be doing so much more with my SP. I would like to have a steem blog that comes out the same time every day with steemit news, tips, price updates, commentary and the such. Kind of like a steem school class. Your excellent blog needs consistency, timing, SP, and bots, to be trending. I think if people could see how bots are used and how to designate SP and being able to upvote a trending blog by signing in at the same time everyday it would make all the difference. I admittedly lack drive and consistency but work well with others. Its a matter of focusing. On another level we could eventually manage others blogs using our SP, giving many that initial boost. I think 2 can do better than one and soon could become a team as I have a couple other contributors in mind. What do you think?
Wow. I feel excited reading your proposal @brotherdave. I have this in mind too but didn't really know how to go about it. I am always happy to contribute my quota and to work with you on the proposed project. How do we get started? We may need to communicate on a different space about this collaboration. What do you think?
I thought you would have similar ideas. first off we need to pick post time. And you can pick chat space. How did you get your message on my wallet page? That worked well. I'm thinking we could use the same bots that are on the highest trending pages and maybe work in some type of interaction like a contest. For now lets gather ideas and compare notes. Think on the post management angle also as I think it can be a viable resource for many steemians that need help getting started. I have over 6000 SP we can put to work and more if I need it
It is good to hear this @brotherdave. The problem with the wallet chat is that it is open and not private. I am thinking of an email chat or even whatsapp. My email is [email protected]. You know there might be reasons for us to privately go through some articles before they are posted. We may also need to talk about other things in a private space before they are executed publicly. The post time for me will be about 3 hours from this time when I am back from work. That will be 10pm here. I don't know what time it will be in your own part of the world. If the time isn't viable, I am open to adjustments. As for bots, I've mastered their usage to get some profits. I will be looking forward to hearing from you sir.
Regards.
My email is [email protected] my 5pm is your 10pm this will be fun. We'll make a plan and give it a go. It would be wise to review some posts from gurus in the field . Bot riding might be a good place to start. I signed into WhatsApp but never used it. Facebook Instagram works well for
There is no problem. I will send you an email shortly and then we can pick up from there.
Cheerrsss sir!!!