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RE: STEEM BACKED DOLLARS PUMPING AGAIN! 💵 💵📈
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 won’t be sustainable and selloffs at the top are going to be sharp like that?
I’ve 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.