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RE: Weekly Analysis: Detailed Technical And Fundamental Analysis Of Steem, Steem Dollar, Bitcoin And USD
Hi @knircky , thanks for raising this point. The term "Steem is pegged to the USD" is not wrong because it is pegged "indirectly". Please refer to the "Relation" heading of my article again where I explained relation.
When USD will move in any direction, it will affect BTC at first, and since steem is priced against BTC like STEEM/BTC then BTC will then affect Steem and Steem dollar. If the effect of USD on Steem is good, Steem Dollar will rise in huge way. If the effect of USD on Steem is bad, Steem Dollar will fail to rise.
So, directly or indirectly, everything is pegged with USD.
You are right, everything is pegged with USD now)) You have considered the price of the dollar under an interesting angle. I like it and i follow you. I'll wait for the next analysis.
In my opinion
SBD is pegged but Steem is not pegged and steem price drop from 4$ to 1$
But that is a good opportunity to power up our steem power because we can buy steem on cheaper price.
Indirectly pegged. But I started to think that right word to use is "correlation" even if little and "pegged" might not be the right word in steem case. I will study this case and in my next analysis, I'll explain this part. Anyways, thanks guys.