The familiar path of Steem Dollars as speculators/ traders eye an opportunity

Longer time-frame paints an interesting narrative, can speculators/traders or ultimately Bitcoin determine its price action

This isn't investment advice, as usual your eyes should be on the 'heart' of the Blockchain and its underlying token Steem.

The trading volumes on Steem Dollars has been low and given Bitcoin price action it is understandable. Of late SBD price has primarily been volume driven or better word "demand driven". Given its unique nature and special characteristics it is often vulnerable to manipulation or pump if traders/ speculator are up to the task. While many may view this characteristic as a burden or liability the Steem blockchain could do without, it worthy to note these unique characteristics affords it specific advantage often realized in times of crisis and demand. Being a "percentage collateral commodity" whose supply is driven primarily by marketcapitalization of Steem it presents an interesting complexity to the market.

A lot has change within the Steem ecosystem, the realities of 1 USD peg would be difficult moving forward given the nature of market participants to speculate on assets with low supply and strong demand. The proposal of increasing debt burden risk having two assets with spiraling supply plummeting in prices during times of crisis given Bitcoin unpredictable nature. The discussion of Steem Dollar removal does carry some merit but whether that increases the value of Steem is another case that has to be given some thought. Given the attempts to control price, history often shows our action often results in the unlikely results, a good case of this is a spiraling fiat regimes around the world and the hands of Central bankers trying to pop them up. Ultimately the market arrives at fair value.

Given the assumption above and the charts, Steem Dollars is building an opportunity, ultimately that would be determine by Bitcoin and volumes on the asset. Ultimately the most effective use of SBD may be on Steem internal market as a mechanism of obtaining Steem for those interesting in obtaining it given a jump in prices. Ironically, it may be one of the best tools of soaking up Steem supply and indirectly increasing the value of Steem on the external markets.

Steem Dollars 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 new data. As Steem Dollars charts make another case, it would be interesting to see how price action follows and the reactions of Steemians to these data