SBD was predicted to touch $1 in last weeks.
I have written three blogs in last two weeks about SBD hitting 1 USD. Now it is almost 90 cents and trending to touch one USD within a week.
During my blog writing it was 63 cents, 68 cents and 74 cents. SBD was supposed to peg 1 USD, however, it acted more volatile than Steem. It once peaked at $20 and went down 52 cents.
Interestingly, due to its low market cap and pegging history it is supposed to correct fast. In fact, BTC has not moved that much during SBD rise from 65 cents to 90 cents. Probably investors have found an opportunity to make trust in Stable coin, SBD.
Overall, if it reaches close to 1 USD by few days, it can be a bullish sign for Steem. In fact SBD, will be the best performing currency in last month rising almost 100%, while ETH has risen 40% and TRON 60% from their respective bottom.
In the meantime, Steem is feeling bullish after @ned's sudden hyper-activity and STINC's hivemind release. If @ned and STINC can keep up their performance, then Steem can also correct its ranking within 40 in the CMC and reach 50 cents considering BTC stays around $3600-4000. If BTC reaches above $5K, then Steem may reach 80 cents to $1.
Let's first enjoy SBD's recovery!
Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.
Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.
Thanks for reading.
@riseofth
Cryptominer since 2013, occasional trader and tech blogger
The best is to Steem On no matter the price. ;)
Posted using Partiko Android
Yes ... it will be very good when we get back are 1 $ one steem :)
Lets hope BTC also try move up so this steem move gets more energy to move up.
And if we get this month 1$ back, then I don't want to be a professional, but I believe we have then a very strong beginning of the year. And this is good sign .
It seems like it very well might make it as the price of both go up it puts the conversion feature closer to be profitable for those buying at the discounted price. While that will drive inflation and Steem supply higher, it will bring SBD supply much lower which should make it more valuable as they get burnt for conversion.
Posted using Partiko iOS
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