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RE: STEEM DOLLAR (SBD) Target $31.45
None of those factors are considered when projecting the price pathway.....it is 100% purely based on price action. Market Cap, circulation, etc honestly have nothing to do with it's trade price, despite popular opinion. This has been proven over and over and over in this blog with coins that were never supposed to be able to get above a certain amount, or because the coin has a huge daily inflation (EOS)......believe it or not, it just doesn't drive the market, sentiment does....and that's what we're measuring here.
I believe that 1$ pegging applies to steemit only. If you withdraw 1 SBD from your Steemit account only 1 USD is removed from your balance. So it's only 1$ on steemit and it can be any amount outside of it.
Right....best to sell it at market value.
I'd like to see the links to this information if you know where they are. I'm not saying you're wrong, as I know it's deeper than simple supply and demand. I have a hard time wrapping my head around the concept that it plays no role at all. I don't think all movement is purely technical, but I'm open to competing ideas.
I will be completely candid about this. It is a very hard concept to get the human mind to bind to, and absolutely there are many many people who wholeheartedly disagree with pure Technical Analysis.
As humans, we NEED to attach meaning to everything to make sense of the environment around us, and we NEED to have a cause and effect, if for nothing other than to keep us sane in many cases.
Ohhh man....this could get pretty long and deep....let's start here...this is an essay that Haejin, the author of this blog, wrote a while back that explains much of what I would be getting at here: https://steemit.com/bitcoin/@haejin/essay-is-technical-analysis-a-quantum-event
I personally would love to discuss it with you, but I am about to leave work at this moment. Do you have Telegram? This is more of a conversation than just a statement. Check your wallet.
Are you on Discord?