SBD IS ON A BULL RUN ONCE AGAIN AND IS CURRENTLY AT 2.4$
Since I joined Steemit 5 months ago I have never seen SBD trade so high
RECORD BREAKING VOLUMES
As per usual most of the volume is coming from Bittrex and Poloniex but the numbers are record breaking. Never seen volumes so high for SBD before and I can't figure out the reason behind this and the massive price increase. What is causing SBD to be so volatile lately? Some SMT's being released maybe? Or has SBD/STEEM been offered at some big exchange we weren't on before?
As seen in the whitepaper SBD was created for assuring stability but is doing the complete oposite now being so volatile and unpredictable. As I thought of it before SBD is always supposed to be at around 1$ for 1 SBD but in the past few weeks we are witnessing a huge upward trend and I can't find a straight answer to why this is happening.
Stability is an important feature of successful global economies. Without stability, individuals across the
world could not have low cognitive costs while engaging in commerce and savings. Because stability is
an important feature of successful economies, Steem Dollars were designed as an attempt to bring
stability to the world of cryptocurrency and to the individuals who use the Steem network.
What do you expect to happen in the future? Will SBD correct back to 1$ as it should?
It is our belief that these rules will give market participants confidence that they are unlikely lose money
by holding SBD purchased at a price of $1.00. We fully expect there to be a narrow trading range between
$0.95 and $1.05 for SBD under normal market conditions.
My best guess is that it will correct sometime in the near future and until then I'm selling my SBD for STEEM and will buy back in when the correction happens as it's naturally supposed to go back down to around 1$.