The Market Price of STEEM and SBD Just Became Equal
Not so ago, I thought I would never see it again. But, it just happened! The market price of STEEM and SBD just become equal, both worth $1.05 US.
What to expect next?
I really don't know! I'm not some cryptocurrency expert, but some sort of pattern that I noticed in recent behavior of Steem coin doesn't appear very pleasing to me if pleasing at all.
The pattern I'm talking about is about Steem value performance connected to Bitcoin. After the major Bitcoin dropdown which reflected on the whole crypto sphere and coins out there, and when Bitcoin established itself somewhere in between 6K and 7.5K (if we can even call such a significant value interspace as an establishment), Steem coin would follow Bitcoin ups and downs in some strange way.
Meaning, when Bitcoin would drop down, e.g., 10% or 20%, Steem would drop shortly after almost the same. But, when Bitcoin would at some point, later on, raise again in whatever percentage, unfortunately, Steem coin wouldn't follow the same way. Steem coin would increase but not in the full percentage amount that Bitcoin performed. At best, it would be 50% up to 75% of the percentage rise of the Bitcoin.
As in the past several months, Bitcoin performed several such ups and downs, every next time when it was going down Steem coin would sink deeper and deeper. So, the Steem coin value pattern that I'm talking about is the one in which Steem follows Bitcoin in its descending trends, but never in full in its upward trends what made Steem a lot weaker than it should be in my opinion.
I know that Bitcoin is not the only one that causes and influences the Steem price, but still, because of this undeniable connection, and the above-described pattern, unfortunately, I wouldn't be surprised if Steem value drops down even more (although maybe not right away) and becomes less worthy than SBD.
The question that arises by itself from that possibility is,
How Steem community is going to react if the value of SBD becomes more significantly bigger than Steem again?
Illustration source:
Own drivative work with screenshot of the displayed info on my browser brought by SteemToolBar, (a tool created by @arcange).
Posted on Friday, August 10, 2018
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Nice analisys @ana-maria and good solution by asking in the last paragraph. I dont much understanding about crypto but for me this world is a place to write for a while. Maybe next i must learn more about crypto. God bless you
Thank you, very much!
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I just stop using Facebook after I came to know about steemit. Except for messenger
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Me, too! I deleted the FB app from my phone, said a "good bye" post and told my FB friends about Steemit and why I had decided to put my energy into reading higher-quality posts and writing posts that could be appreciated by a more sophisticated audience. Occasionally I share Steemit posts on my FB account to get people to take a look. I think Steemit would benefit from a PR campaign where it is promoted as an alternative platform for social media, along with many more important uses.
If Steem would have been directly related with btc movement..thing would have been brighter. Steem is going down and down..
Very good post my friend @ana-maria
I like this post.
I don't think the Steem community will react in any way if SBD will be pricier than STEEM as it was in the past also. However you're right with the altcoins following Bitcoin in its ups and downs. They always do that. For about half an year I noticed that they follow Bitcoin closely while a year ago for example it was Bitcoin that changed the trend first and then being followed by alts.
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People are leaving as the price is going down and they will continue to do so, that is what is going to happen :) I am optimistic, things will get better and crypto will rise, you'll see :) This is a great time to invest in steem and turn sbd to steem. Steem will again be larger, much larger than sbd and then we will all celebrate. That time will come, we just need to be patient and wait for it.