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SBD is trading below 1 USD right now because select groups are taking advantage of the SBD into STEEM conversion.
Remember when SBD was at $12? The big groups and whale-like individuals who manipulated the steem economy to that point knew about it. It was all set up.
That's why steem is so "low" now. In my opinion, it shouldn't stop losing value any time soon, either. Unless someone starts buying a lot of our blockchain's currency. STEEM is give and take. It's illogical to expect prices to hold if noone is actively investing back.
This is why it's important to link other sources of income with steemit, like I've suggested posting your YouTube videos on steemit instead of using dapp services.