Steem Price Still Steady Around ~$0.88
I am shocked the SBD to steem ratio is still below 1. It has had such a strong track record of being over 1, typically around 1.2-1.3. It has been below 1 for several weeks now. I would have bet good money that it would have recovered, but here we are I guess. Part of the reason is the price of Steem has remained below $1. Here is a chart of the recent steem price action from coingeicko.com.
The price of Steem has struggled to recover. I would have thought it would have been going up with Bitcoin, but maybe all of the money right now is in Bitcoin and not in other cryptos? I will need to think about that a little more, but I could easily see how this would be the case.
What are your thoughts on this? Do you think Steem is going higher in the near near or is sub $1 the new norm for a while until Steemit becomes a little more mature? Initially, I thought it was going to recover, but now Inam leaning toward sub $1 being the norm for a while.
My guess is that steemisns are currently spending a lot for beers and BBQs in steemfest haha
img credz: pixabay.com
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I don't know enough about coins yet to guess on what it's going to do, right now I'm just in that world of posting and hoping to keep earning.
And wishing on every star I see.
I think under November 16th's bitcoin fork there will be a lot of money staying in bitcoin. The fork will give all BTC holders an extra token, which has equated to free money in the past... after that I would hope to see steem rise in value back above $1.