What will happen to Steem Based Dollar once it goes below 1 USD?

in steemit •  7 years ago 

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Almost every Cryptocurrency has been going through rough Times and the same goes for STEEM and Steem Based Dollars. The price of STEEM at the current moment is around 1.32 USD but the Price of Steem Based Dollar is 1.08 USD which is very close to 1 USD.

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Now, most of you should know that SBD is supposed to be priced at 1 USD and since the price is once again coming closer to that level SBD could be once again Soft Pegged to 1 USD which would be kind of a bad situation for many Peoples including me.

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I have around 35000 SP Delegated from others to whom I pay from the SBD my Posts make so if the SBD gets Pegged to 1 USD that would be troublesome to me. That being said I am still Optimistic on the overall Market and still HOLDING my Bag.

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7 years ago by

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      ·  7 years ago 

    well you can buy steem with SBD for a good deal.

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      ·  7 years ago 

    Markets typically most exchanges are forward driven and sensitive - Its just the news that is currently impacting the SBD - I reckon - for anything to rise it first has to come down! Echo your optimism - this probably is the time to buy.

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        ·  7 years ago (edited)

      There is a strong restisance line at $1 so I’m just hoping that will keep it from going below a dollar.

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          ·  7 years ago 

        I hope the market rise again because I don't seems to understand why it went down this low.

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            ·  7 years ago 

          Whales manipulate the market to make people lose hope and sell their coins. Once they do that they buy tons of coins for very cheep and the price returns to normal.

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              ·  7 years ago 

            it will recover , all the market will recover

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              [-]
                ·  7 years ago 

              You have to have faith that everything will return to normal

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