Steemit is really been a active platform in which everyone gets paid for their contribution. It is one unique system in whole social networking space where rewards gets distributed among Developers, Authors and Curators. Sites like Facebook or Twitter are benefiting only there creators but Steemit is fairly apart from those.
Steem has two coins which are circulated and traded in market. These are Steem and SBD or Steem Backed Dolors.
From start of Steemit, Steem value is always ahead of SBD but from last one or two months SBD value nearly doubles or triples at point of time to the Steem value.
I do not know the reason behind that shift but currently steem value is souring or trying to catch up with sbd. Some people is in view that one should grab this shift in their advantage by converting SBD with STEEM.
Before commenting or suggesting something like that, I need to look at at chart of both coins......
Firstly SBD chart below:
Now STEEM Chart below:
Now the Comparison
Chart of SBD is suggesting a shifting of trend to slightly lower as it is creating Lower Highs Lower Lows Pattern. Though the momentum is still up as moving averages are still in expansion, but break of 10 Days EMA support is questioning the whole trend or momentum.
Chart of STEEM is suggesting a uptrend is still intact and is gaining momentum as currently Steem is up 42%. At one point of time Steem was up more than 90% today but nevertheless it has broken the previous all time high of around $5 which is very bullish sign for this script.
Conclusion
By comparing the charts of two coins, its clear that Steem is really has upper hand over SBD. Where SBD is showing some weakness STEEM is in full throttle mode. In that respect one should really grab this opportunity by converting their SBD to STEEM which is still has higher value of $9.94 as compare to STEEM's value of $5.70.
With that said I am signing off this update.
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