STEEM BACKED DOLLARS PUMPING AGAIN! ๐ต ๐ต๐
GOOD EVENING STEEMIT,
I bet you thought that the SBD above $1.00 was done, right? I have to admit that I did too... I even sold a whole bunch of SBD for STEEM as the ratio went 1:1 again. Doh!
Take a look a the chart and youโll see the latest pump;
SBD/USD Daily
BOOM! Off we go again.
With the entire market having a breather today, SBD has found itself not losing ground like everything else, but definitely capped by trend line resistance.
If the broader market wasnโt down, price would have ripped. See what tomorrow brings.
And remember little brother, STEEM? Isnโt it hilarious that Iโm now referring to actual STEEM as the little brother? ๐ Shows just how far SBD has come in its own right as a stand-alone coin.
STEEM/USD Daily
A nice retest of previous resistance as support, followed by another nice pump. Not as nice as SBD, but nice ๐.
Enjoy the rest of your Sunday, legends.
Peace โ๐ป.
Instagram: @forexbrokr
Website: www.forexbrokr.com
I believe that there are people interested in artificially pump SBD for some reason. Maybe to artificially and temporally increase the posts rewards.
Is it really artificial.... let's stop and think about that?
I donโt think the pumps have anything to do with Steemit and rewards. Just simply because itโs a low market cap coin, with relatively low supply.
But for those of us here on Steemit, isnโt it great! Enjoy accumulating for posting.
Yes, that is true. For us here posting on Steemit nothing can be better than a strong SBD.
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In my opinion people speculate on SBD because of its low marketcap and people don't really know what SBD is. People have also take into account that inflation of SBD rises with its price. And inflation then causes downward pressure.
Here I have a chart where you see the price of SBD versus the inflation:
Its from my weekly steem statistics. https://steemit.com/steem/@sevenseals/steem-statistic-charts-week-03
Hey mate, thanks for the great comment. I share the opinion that the pump is just from traders unrelated to the steemit platform, purely driven by its relatively low supply.
So if inflation rises with price, are you saying that with every pump like this, it simply wonโt be sustainable and selloffs at the top are going to be sharp like that?
Iโve given your stats blog an upvote and am now following. Looking forward to reading more!
Thanks for following. Followed you back. I plan to make some additional charts in the weekly statistiks. Some people want to have a linear chart with the activity values.
There is a lot of peace in seeing the increase
If youโre just starting out on the platform, my advice is to ignore the price of STEEM and even to ignore how much money you make on each post. Just work on posting consistently and building relationships through your activity here. This will put you in a good position for the future when price will be higher anyway.
Good luck!
It is easy to manipulate SBD because of the low market cap.
Yep, probably nothing to do with steemit at all. Just enjoy picking SBD up at these prices for blogging ๐
Awesome Job My Friend...
Cheers lad.
All I know is not many people are complaining about the price of SBD and STEEM. This is GREAT !!
None of us here who are putting in the time to blog and engage in the community ๐.
Anything above $1 is actually still a huge bonus. Just enjoy it!
Yes, SBD is climbing. But I can't help but wonder that the bulk of transactions are being driven by the Korean markets only. The odds are pretty high that people are trying to use SBD as a pump and dump.
Even if it were, what difference does it make? Steem has a dedicated community of authors which form its backbone.
Yes itโs driven by people outside of steemit, but I donโt think itโs a pump and dump. Itโs just that itโs a low market cap, low supply coin. A good investment.
All this trading activity puts those of us earning SBD on Steemit in a great place. Smile :)
Agreed that is a possibility. But then it might just be me, but I think there's a disconnect between participation on Steemit. I mean the trades just don't reflect the presence of respective nationalities on Steemit. Again, its a wild guess because going by trading volumes, we should have a good number posts from South Korea; don't you think?
The South Koreans buying the coin donโt care about the Steemit platform. Steem (and SBD as a result) are so much more than Steemit. They are quality cryptocurrencies with real world uses and investment value independently.
Wow Enjoy your life friend.
Haha you too, mate!
Thank u
Up up and away! May steem dollar continue to go up and we all again. Thanks for posting!
Not a problem. Thank you for coming over to my blog :)
It's really cool to see SBD doing so well, even when the entire market is not in the best condition currently. How far can SBD rise? I wonder if it's going to be like this forever, or will it come back to 1$ some day and stay there? Haha, well I definitely wouldn't want to see it going down to 1$, because the rewards are quite nice at this price :)
Itโs definitely nice for those of us here writing on steemit, isnโt it :D
It seems as though SBD has taken on a life of its own, traded by those outside of the platform simply because of its low market cap and supply. Exciting!