The Crypto Market Crashing? And Could this be the End of the Long Soaring Price of SBD?
This is definitely not a good time for the cryptocurrency market that continue to witness a horrible downtrend, which makes it look like the whole market is going to crash to nothing. While the industry is upcoming and yet to mature enough to reject big dipping market such as this current one, we are sure that we will get there soon when more big money pours into the market.
Checking CoinMarketCap today shows a bloody and scaring bear cryptocurrency market with majority of the top coins losing double digit in percentage.
Since late last year, Steem Backed Dollars has seen an unprecedented increase in price that caused different opinions and wide discussion within the STEEM community as the coin that was created for stability went against design and begin to soar high even to an all time high of $15.
The increase in the price of SBD favored most people and made many others reimagine the potential of the steem platform. Of course, the soaring price has its good and bad side and then it supporters and non supporters.
I think a lot has really been done to bring back SBD to its genesis design, but nothing much as really happened to the price of SBD. Naturally with the current dipping price of most cryptocurrencies, SBD has got a big share of it and headed to it lowest price since the moon price running started last year.
Could SBD just finally crash from here and go back to it $1 pegged design? Or will it recover when the market does?
And what do you think is the reason behind this bear cryptocurrency market?
If this post inspired, motivates, or educate you, why not resteem so others can experience same? If you could upvote as well, I will be glad and your comment will make me believe you did one of the three.
Right now, the fall of SBD can be attributed to the general correction on crypto itself. However, that coin has a lot of potential. Its trading activities surpass that of Steem, mostly due to the fact that it is liquid in this platform. There's no telling how possible it is for the correction to genesis will happen and how long it can stay there. But there's one sure thing, Steem will overtake it soon.
I think I like this comment man. You have good facts and yeah, steem in the long run will be way up than SBD, but SBD will continue to unleash its potentials for the main time.
I know ...
I’ve been wondering if this will be the straw that resets SBD back to a dollar for good. Sure doesn’t help the newbies - sad face :(
This is only a turbulent period for cyptocurrency. It'll surely gather momentum again.
Oh I know - but my current investments are not anywhere close to where I need them to be....and I didn’t anticipate waiting this long lol but I’m not really complaining
Doesn't help most people and not only the newbies. And yeah I believe we are recovering soon.
I think people need money to pay taxes. That is my best guess.
And the government are coming over to regulate cryptocurrencies
Don't worry that the market will return to good.
Good luck@bania
I believe man
Good post freinds
This was a great read I think the market will recover once the speculative money leaves. I think this is the best time to invest in the crypto that you most believe in and hodl! Please leave a comment and follow my friend we are all we got!
Yeah. This Is one great opportunity to buy some cheap coins that one believes in.
Thanks for reading and stopping by. I will check out your blog
This is extreme short term volatility. We have a good chance of recovering the medium term (2-4 months) and for surely in the long term. This is the first big drop from all the sheep who bought at the top. The money that left the market had to go somewhere, and it will come in at the right price point. HODL!
That's right man, I hope the market recover soon and recover great
Is this the great shaking out of weak hands or are we going to see rock-bottom soon?
I don't think we will see rock bottom soon. I think we will recover soon :)
I would have been worried if it was just a SBD/STEEM thingly alone... Every coin is affected, even the mighty bitcoin! There is a great chace that they'll all rise again. Hopefully they do.
You're right, it's the whole market experiencing a breakdown. I think we're recovering soon
to many cryptos ..someones gonna have to come out on top of crypto reign and bitcoin may not be it
Bitcoin definitely has a lot limitations that provide room for other altcoins to take it place in the nearest future.