SBD to hit $80 by next Spring!
Did that catch your attention?
I visited a page on steemit by ol Haejin and that is exactly what he is claiming is in store for SBDs over the course of the coming year.
I am all for being bullish and I certainly would love for that to happen, but $80 seems a little extreme to me.
That being said, here is the current chart:
To me it looks like we have some sort of bull flag/bull pennant going on and it looks very likely that prices could breakout of that, and the measured move would take it to higher prices than seen at the recent high, in terms of BTC.
Which would call for a break of .001 BTC.
The interesting thing about SBD is that there isn't much supply out there and as prices go up there really won't be that many more sellers as the only way to get more SBD is to earn it on steemit, as much of the current SBD supply seems to be locked up.
Given that, if a pump and dump group with some firepower focused on running SBD as high as they could, then it is certainly possible that SBD could see some very high levels.
But it likely won't hold much, if any, of those gains.
It would be fast and it would be furious.
Again though, that likely only happens if a pump and dump group focuses on it, at least in my opinion.
SBD will not rise much more due its high inflation unless there is a pump.
https://steemit.com/steemit/@sevenseals/steem-statistic-charts-week-09-including-country-statistics
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I don't think, his analysis is accurate, he just posts something and then you know why he does so.
Yes that is probably true, though don't we all mostly post on here for the same reason?
SBD having huge opportunity as per price speculation. I hope your prediction is good.
Hi Jon, unfortunately this is not a likely outcome as SBD is convertible share of STEEM. SBD appreciating any more than it already has would actually be detrimental to STEEM's growth- as it is, interest payments for holding SBD have already stopped which creates increased incentive to sell SBD or convert it. I'd encourage you to read pg. 8-12 of the Steem whitepaper to better understand this. Cheers!
I do understand that, but SBD is also freely trading on exchanges, which means it can fluctuate with market forces in the short term. Look at the charts, it already hit $16-$17 a few months back...
I think it's more likely that SBD become more and more closely valued to $1 as time goes on. Currently when you go to exchange an SBD on poloniex for BTC, you're most likely trading with someone who's put minimal time into understanding what they're buying (maybe they've watched a few youtube videos on Steem and decide to invest equally in STEEM and SBD cuz "it's pretty much the same thing... right?") and just want to make a quick buck. As time goes on, there will be more and more info out about SBD and people won't be as willing to buy a convertible share of STEEM (which is what SBD is) at a premium. As always though, multiple opinions are better than just one. I may turn out to be wrong!