STEEM & SBD Price Update & Prediction 💸
So everything is way up and it's another somewhat decent time to trade in your excess STEEM into SBD for a nice extra profit with the current difference in value. Why does this matter? Well, because for little to no effort you will have more coins overall and then when the values normalize again you sell back into STEEM or do whatever you want. The difference being that you are now more wealthy!
I have now decided to keep some extra STEEM and SBD always on hand in my account to trade between the two to make profits. Previously I always invested into power.
24 Hour Spectrum - $STEEM
STEEM went on a nice little bull run over the last 24 hours going from under $2 to over $3. It's currently $2.91. When you look at the YTD chart you can see that it's gradually rising and I'm confident it will continue to do so.
Year To Date Spectrum - $STEEM
You can see how it was up with Bitcoin's rise and then obviously was affected by the crash. It's been recovering faster and faster in bull runs and in the past 24 hours or so it went from under $2 to over 3$ as I shared before given it used to be over $10, I'm assuming by the end of the year it will be at least $20 or more.
Year To Date Spectrum - $SBD
The year to date chart runs pretty much the same as Steem as it is supposed to be pegged to the dollar but is heavily influenced by Steem's activity.
24 Hour Spectrum - $SBD
This pretty much runs the same as STEEM so it's not as easy to illustrate but typically when one rises in value it tends to have a gap between the two while they normalize and I now keep extra SBD and STEEM for trading between the two when there is a big difference. I traded my STEEM into SBD for $0.30 for more per coin and as I hold more overall I will be able to benefit off the changes. I realize that given the witnesses have such a strong effect, I need to follow their updates much more closely at https://steemd.com/witnesses
Thoughts
Bitcoin is leading the way on this rise it seems with a 13.5% increase over the last 24 hours which is my assumption as to why the value has gone up for STEEM and SBD. Also about 3 days ago Bloomberg did an article about Steemit and there has been more hype having surpassed 1 million users. Personally I just got some STEEM and then transferred it into SBD and kept half. This way in the future when SBD goes above STEEM then I pour that back into STEEM and keep slowly getting gains and keeping all my money within Steemit and keeping the infrastructure strong.
Prediction
It may just be hope, it may be long overdue, but I think that STEEM and SBD will start to climb back up closer to it's old standing and I think it's headed to 5$ before the year is over as a minimum prediction. My optimistic prediction is at least 10$, but assume-ably if that were to happen I would expect it to surpass its previous standing because of the hype that would go along with the bull run that would happen. I am optimistic as long as we continue to moderate the community and give a good first impression to the new users coming on the platform now that we have over 1 million and are gaining more traction. I think as we move forward, fixing the flagging abuse issues will solidify people's faith in the platform and help bring us to the next milestone.
THIS IS JUST THE BEGINNING!
Let me know what you think about all this, your prediction, and anything else you'd like to add in the comments below!
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@ScottCBusiness
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Proxy
Proxying your vote is pretty simple you just go to https://steemit.com/~witnesses navigate to the bottom and type in a username here:
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Delegation
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Ohhh..today increased sbd price
yeah!
Great post @scottcbusiness. I admit this is my weak point. Still trying to wrap my head around this end of things. I am sure STEEM will be back over $5 before the end of the year.
On one hand I would love it to, but as I am finding out it's ok where it's at even a little lower. It actually enhances payouts for the minnows and such. It isn't so much in favor of the whales. This gives me time to save up and work towards investing .
Yeah when it's low we can buy in easier too
The outlook seems to be very positive for the space. In fact, I read CNBC call 2018 "the best year yet" for cryptocurrencies. Hopefully, Bitcoin continues with its rise and brings the rest of the cryptocurrencies, including Steem, with it.
Me, I'll just be here enjoying the ride.
:)
Nice,going to be exciting!
Thanks @scottcbusiness!
:)
Truly great to see it back on the rize!!
Yeah always a good thing indeed!
Again It raised again.
Yeah right now it's evening out, if SBD goes above STEEM, massive profits reconverting back!
I'm staying optimistic for a decent rise pretty soon. Thanks for the update and great links you've provided here. Will try to join as many as I can via your ref links. Cheers!
Hey thanks! They should all be pretty beneficial too :D
Yes conversion between SBD and STEEM can give you profit from inbuilt Market aka Exchange of Steemit. Its nice way to boost stock in hand.
Cheers @scottcbusiness
exactly :)
Hopefully it'll keep growing. I find most people I introduce to Steemit seem to give up after just a few posts. I get it,it's slow at first but c'mon lol You get what you give with Steemit. I had to cash out some Steem to help make ends meet this month since the doctors told me not to paint or play guitar for 2 weeks after I pinched a nerve. Glad it jumped and I was able to take advantage of that! Onward and upwards~!
True yeah I mean it's cause when they hear you can make money they don't come on for the platform they think it's like a get rich quick thing. When they find out it isn't, they bail
I don;t really even mention the money anymore, I just tell other content creators it has a better newsfeed where people see your content in chronological order and that you can format posts much better and add links that don;t get hidden etc... and OH ya, there's some ways you can earn money in crypto on there, but I don't even focus on that I mainly use it because it drives more traffic to my website than FB and IG combined
yeah for sure, I find it's best to start with Minds, then transition them onto Steemit which is more complex to the average user and a bit overwhelming at first
On Minds I usually get people saying "It's full of Nazi's" lol They're both working for me! You can lead a horse to water, but can't make it drink as the saying goes lol
haha yeah, well to be fair there are some neo nazis there, but it has a block feature for that very reason. Also for all I know it's Facebook on there slandering.
Its good that steem is gaining some "steem", I hope that my friends will not give up on the platform and thanks to more implementations ( apps that are easy to use and a better interface I think its going there ! 2018 is the delivery year of a lot of projects on the blockchain.
Yeah eh, I've been searching around all the time for new blockchain tech