View this post on Hive: 🎬 Steemy EP. 42: Steem Dollar Price 100% Up to $2 - Price Shock!
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🎬 Steemy EP. 42: Steem Dollar Price 100% Up to $2 - Price Shock!
7 years ago by flauwy (73)
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I wonder will someone be able to explain what really happened in steem world? For so long both steem and SBD were tumbling around ~$1. And tonight steem jumped +25% while SBD +230%. Why is this? Why this SHARP jump? And what makes sbd to walk so much away from it's native $1 where it should sit all the time ? This SBD price crazy fluctuations is a total
mystery to me.
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It is indeed mysterious but that is how it goes in the free market of cryptocurrency. Someone invested big probably. I hope the SBD stays there until the end of the month!
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It might have to do with all the negative news around another USD pegged crypto: Tether. Some people are selling their Tether and need to go somewhere?
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Hey, that's interesting. I heard before that SBD would be a great alternative to Tether. Let's hope that is the case. However, the fact that the price went up is not as Tether works. Both are pegged to the Dollar but Tether seems to do a better job. I haven't heard the news yet.
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True, SBD doesn't seem to have enough volume to remain as steady as Tether. Maybe recent event increase demand and therefore volume of SBD on a structural basis ;-)
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I've heard some people talking it's because Korea coin market started to trade STEEM last night. So, it might the be the very likely reason.
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Markets are small. It could be easy to manipulate markets this small by dumping and causing people to sell for a loss or pumping and causing others to FOMO and buy. Also, since the market is so small a decimal point in the wrong place could have started FOMO as well.
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@flauwy am very happy to see steem/ sbd soaring higher. As time goes on it will keep on increasing. The best investment is to invest your money on steem ecosystem.
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I traded a few extra SBD for steem when I saw that and put it all into my SP.
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Nice move!
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You right It's a shock , I thought I was seeing things ;)
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To the moooooooooon..... and back.
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Hopefully, it will slowly increase since the steamit.com is getting more popular by the day... we all hope it will grow each day....WE ARE STEEM PEOPLE AND WE BELIEVE IN GROWTH
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Yeah I also believe that Steem will go up. But the Steem Dollar is actually not meant to be that high (not that I complain). So I think that it will not stay like this for long and it will go down slowly over a few weeks.
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Thanks For Your Good News Its really Happy for all steemit user @flauwy
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That is great everyone will hopefull for an increase in value.
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Good news are to be celebrated, and this is just the beginning :)
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Was not able to change a lot to steem !
but looking good for Steem as well !
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I think SBD would be back to around $1 again. We have seen even way bigger short (few hours lasting) jump in May this year when SBD reached even $22. That was crazy! - lol -
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the sbd at the present time is 79.2 while steem is 16.3
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Heard there was a Tether hack and panic during the market correction and SBD was the closest replacement.
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Hahaha! How cute this Steemy! I love it! Keep doing these kind of videos! So much fun! And of course how great about the SBD spike, let's keep it rising it people!
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It will collapse. The price of steem will go back down as well. This was just a small amount of fomo, but glad it happened because I think this will help prop Steem back above the $1 amount. It needed this to break that strong resisitance.
What will be interesting to see if Steem has another big bounce off the $1.
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Converted my Steem Dollars to Steem Power today.
Feels fucking good man.
Thanks for the news Flauwy.
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by flauwy from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
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This post has received a 2.52 % upvote from @buildawhale thanks to: @flauwy. Send at least 1 SBD to @buildawhale with a post link in the memo field for a portion of the next vote.
To support our daily curation initiative, please vote on my owner, @themarkymark, as a Steem Witness
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