Can SBD/BTC & SBD/USDT pair on HitBTC catch the eyes of traders again, is 0.02 BTC still possible? Let talk HitBTC
Despite the negative press HitBTC has been receiving, it still remains one of my favorite exchanges to trade cryptocurrency. The platform is among the very best, with very little down time, excellent liquidity and to date I have had no issues. The trollbox is still around with chatroom dedicated to traders who want to "ToTheMoon", "Bloodbath", "Uncensored" and "WorstExchange". It has one of the best interface and to date one of the few exchanges where you can place trades by simple clicking on the charts and getting your desired entry and exit points. One of the challenges however has been wallets that always seems to be in "Maintenance" and withdrawal of large sums of money that always trigger security lockdown which can become problematic if you are not verified. You are guaranteed to find some of your favorite altcoin there but be sure to check out the withdrawal limit for some of these coins as they can be on the high side in some cases. HitBTC is the place where I trade SBD and it has been very profitable and enjoyable one, bringing memories of charts I show below
The kind of chart that sets "ToTheMoon" chatroom on the trollbox on fire
The pump of all pumps
Within hours SBD pump from 0.0009 all the way to 0.02 with a USD value of over 200 USD per SBD, the trollbox was pure excitement as the speculators called for higher prices. In fact, SBD at the time were among the hottest trade coin and it brought in a lot of outside speculators who added fuel to the pair. The end result was quite obvious as it is one of the coin with its wallet in "Maintenance".
The bigger question I have for readers and speculators/ traders, can this events happen again? The trollbox has been itchy looking for the next big move. Altcoins have been quite painful for many, with folks stomaching huge losses but has the enthusiasm of a coin on the move gone? Given the engagement I see on varying social media and the trollbox, I believe its a matter of someone adding some fuel to the fire to get things going. For full disclosure, I have a small position on SBD and regular trader on the exchange. This kind of trading is not and I repeat not for the weak, it can result in huge losses and likewise life changing profits. Only trade what you can afford to lose. HitBTC has taken a lot of negative press but if you provide all the documents required especially some of the KYC requirement, you get the full toolkit of the platform and unlimited withdrawal.
Steem Dollars (SBD) remains an interesting experiment by design I continue to examine, it shows aspect of our nature, tendency of some to follow the script (binary thinkers) and the adaptability of others to change views base on expectation of traders on a platform. The lifeline of SBD on HitBTC gives a very different perspective compared to other exchanges, I remain engaged and excited to see what can happen in the future.
SBD is clearly underappreciated. As a speculative vehicle it is superb. These pumps are incredible.
Its really an interesting experiment, 'underappreciated' still does not capture the magnitude of the impact it can have on the Steem ecosystem. I enjoy trading it on HitBTC and whenever an opportunity present itself on Bittrex. Its a toolkit of the Steem platform that has not really been used to for these very benefits, I believe also the problem really, is the fact that most people hold large amount of Steem and would rather see Steem rise but Steem itself has so much sellers it would take someone of deep pockets to move the price up and maintain it there. Also make sense if the large holders of Steem give the token some time to rise, probably it can work out.
Lets hope SBD offers some opportunity soon on HitBTC, lets see if it can break the 0.02 all-time high or get even close to it. I suspect once it starts moving again, I expect the speculators to to run with it