@cryptographic after all I have read and listened about SBD growth this last 7 days, this is a great tecnhical analysis comparison with SBD and Bitcoin, and it shows clear similarities. Very smart from you for noticing this relation, and as you state it shows a clear probability that bitcoin sellers are the ones buying SBD. And for some reason they are buying SBD and not steem.
Something good to take into consideration is that since the system pays in SBD and Steem, and it does not look for the exterior market prices of SBD to calculate rewards, it is a great moment to exchange it for Steem x6 , 7 or even 10 times at some point.
As I read, it happened back in May, something similar with SBD, but it did not last this much.
I also read your opinion to save some SBD, and bitUSD from Bitshares to be prepared for corrections. Perhaps a medium between both is great, because if we can convert 10 SBD into 60 Steem, that is a good deal too power up more steem. Your thoughts on this?
Upvoted.
Regards, @gold84
Yeah, if I had more SBD, I'd most likely buy STEEM right now, but I doubt I'd be buying SBD in order to buy STEEM - I'd buy STEEM directly if that were the case. In regards to having some hedges against a big crypto correction, the USD or Euro equivalents are great instruments for that. I wouldn't be buying SBD at these levels though, but I do have some stink bids in on it.
Very good of you to point out the similar price action last spring! When comparing with STEEM from that same period, it looks like SBD was generally leading the way up, and then when STEEM really got moving, SBD cooled down. That could very possibly happen again.