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I thought maybe most people will panic and start selling and many would just buy it cheaply off the market.

There's nothing to panic when SBD drops below 1 USD because it should quickly recover since there are alternative ways of converting it to STEEM at the 1 USD rate such as the 100% Power Up option for new SBDs and the internal CONVERT option for existing SBDs which takes 3.5 days.

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STEEM 0.28
TRX 0.12
JST 0.033
BTC 71181.66
ETH 3647.17
USDT 1.00
SBD 3.75