Captain Obvious Strikes again with 20/20 Hind Sight and I told Ya So's
Yeah I did tell ya so. I said when STEEM and SBD were hovering at around .80 cents that it was likely a good time to buy. Now SBD is eclipsing 11 USD per coin, and I still think that it is undervalued. Proof I predicted this (just 1 of many articles and videos I have done on this): https://steemit.com/steemit/@titusfrost/crypto-currency-price-falling-back-to-earth-for-how-long
Not many Crypto Currencies have anything of value associated with them other than they are a means for an exchange of wealth. SBD and STEEM both have multiple sources of value for their currency, including this steemit platform and community. I believe the price of STEEM especially could be above $10 per STEEM coin in the not so distant future. I would like to get @StephenKendal on my Youtube show to discuss the price possibilities.
I always thought SBD would be lower than STEEM, but SBD right now is at $11.5 USD roughly, which is way off the charts just before Christmas time, which is like an early awesome present for all of us Steemians.
The chart are just incredible. All of a sudden SBD just jumped up out of nowhere. I did see this coming but, I did not see this massive increase coming so radidly...
The Market Cap is Now over 42 million USD just for the SBD coin, this makes me think that as Steemit nears 500K users (or has just surpassed it), and with this price increase, we are about to see a massive influx of people and value to the steemit blockchain. I don;t think now is the time to sell high, I think if you sell now you will be kicking yourself in a year or two from now when SBD and STEEM price are way up from current values.
STEEM which I think has more potential for long term value is at: 1.76 according to Coin Gecko
The Market Cap for Steem is 433 Million, and the STEEM value has been higher than it is currently now. I think STEEM is still WAY undervalued, and I think as STEEM can be used to make money (curation and voting on your own work), that STEEM should be worth more than SBD. It has a larger market cap, and can be used to generate more SBD and STEEM. So if I was going to buy into Steemit now, I would be buying STEEM not SBD.
As you can see from the chart, STEEM has not had the massive rapid increase in value out of nowhere, so I think it is very undervalued especially compared to SBD. However I could be wrong. I also feel like witht he launch of EOS and Smart Media Tokens that those will also help increase the value of steemit.
Coinbase and Bitfinex are both so over whelmed with new customers that they are having service outages article. I think Steemit is about to get flooded with more people soon as well. Especially with the price of BTC going up, just clearing 17K and now eyeing 20K according to Coindesk: https://www.coindesk.com/no-stopping-after-record-high-bitcoin-price-eyes-20000/
Anyways that is my take on the current SBD Price / STEEM Price increase. It is like an early awesome Christmas Present, and I think it is a sign of more good things to come for Steemit.
Charts from Coin Gecko:
- Charts and SBD / Steem Prices: https://www.coingecko.com/en
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