STEEM Dollars (SBD): Strong Demand for SBD Could Bring In Triple Digits!
SUMMARY
Even if Steem Dollar (SBD) gets pegged or locked up or lassoed to $1 mark; unbridled demand will not allow it to be confined in valuation. We likely have a resumption of the original bull trend starting as it can be seen in Bitcoin. For SBD; the triangle pattern, counted as a complex combination, is about ready to breakout. Price is very proximal to the apex. The red abcde waves seem complete. The subwaves of red (a) are composed of wxyxz. The parts are fitting into place and the culmination of pattern and Waves are showing a probable, profitable setup. IF correct, it'll be a sight to behold for then the onset of Wave 3 would be seen.
The below chart shows the projection towards $14.04 and five waves (white) are designed to resume the original trend. Let's see if the breakout from the triangle occurs very soon.
And here is my Forest Count. This is wave HODLing works so well for Cryptos. Regardless of the depth of retracement, regardless of time it all takes....profitability translates to MASSIVE!
The video has more details. Not sure why audio is not clear for some as it comes out crisp and crystal on my replays.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
That would be wonderful.
Steem is still so new that with mainstream adoption coming this year and next year, the sky really is the limit. This platform has imense potential and every one of us just keeps adding to its value.
Keep up the great work Steemians, we will be rewarded greatly!
SBD = Saturn Boarding Departure!!! Get onboard!!!
Let help each other please follow upvote and comment, i will do the same job.@tokyoin
I heard a lot of talk about SBD being pegged to the dollar. That's hard to shallow of you purchased a good amount of SBD at 3-4 dollars per coin. Is it a good idea to cash out or move the SBD would you say? The whole concept is very confusing.
SBD is bottom-pegged from underneath to $1. This is because the blockchain allows you to trade 1 SBD for $1 worth of STEEM. This is essentially the peg that is currently on the blockchain. SBDs are essentially IOUs for $1 worth of STEEM. They have no real purpose otherwise, but can be used as a speculative asset which is why it is more than $1 now.
The production of SBD is tied to the STEEM token. For every STEEM token created (under the 50/50 option), SBDs are created with relationship to STEEM's price. If STEEM is $1, then 1 SBD is created for every STEEM awarded. If STEEM is $10, then 10 SBD are created for each STEEM. If STEEM is $100, then 100 SBD are created for each STEEM. As the price of STEEM goes up, the number of SBDs produced goes up.
This means the total supply of SBDs will blow up if the price of STEEM blows up. Thus, if you believe in $100 STEEM, you should have little faith in a high SBD as the inflation rate of SBD will increase as STEEM increases. The supply of SBDs will increase as long as the price is above $1, since no one will trade them in because they can only be traded in to blockchain for $1. That's in the code.
The reason SBDs are above $1 is that no one really understands SBDs and they speculate on them. The probability of SBDs rising to triple digits is so small that it is irresponsible to make such statements as it confuses new users and demonstrates a lack of understanding in the fundamentals.
That being said, STEEM might never go above $10 and SBD might never return to $1 because of its general scarcity and irrational speculation. But there is a "free market" downward pressure that is build into the token that most people never really understand because they don't research the tokens, but look at charts instead.
So, I try to keep my exposure to SBDs lower and trade them during spikes in the prize. But I wouldn't hold a bunch hoping for $100 SBD because it is probabilistically not going to happen. Even borderline bullish delusion will have trouble pushing the SBD past $20. Because the token's only utility is that it can be traded in the future for $1.
SBD already was pumped and dumped, but that helped the STEEM price to rise. I'm ok with that. 🙌
Thank you for the detailed response. I use it more for utility but I'll probably put it into Steem Power which has even more ultility for the community.
nice summary
I am already following you friend greetings blessings and success
@sjmstem -- Just came to say thanks for the vote today!!!!!
Sir
Please upvote me
Come to think of it I might wait till the price comes up a bit sell all my SBD, and quit Steem altogether until the price goes down to a dollar. I'd hate to lose 2/3 of my investment.
Excellent work. This should be its own post.
It look like that SBD being pegged to the dollar. 💵 ☺
I do not see this chart as a good news. It appears a dowtrend and will be necessary a big force to leave these low pivots behind.
hey there
click on my link to earn 2000 per month free
https://steemit.com/money/@wolf92/easy-job-from-home-earn-at-least-2000-dollers-per-month
vote and tell me if you like it
@pinesresumhelp Let help each other please followback upvote and comment, i will do the same job
hey there
click on my link to earn 2000 per month free
https://steemit.com/money/@wolf92/easy-job-from-home-earn-at-least-2000-dollers-per-month
vote and tell me if you like it
I agree with you, a break out is inevitable
@dammieyale Let help each other please followback upvote and comment, i will do the same job
From Greer184:
Everyone go look at my firecoin projections here
Increase from $1.76 to $2.27
This just dhows the flat ignorance of this guy. If you believe his bullshit TA's when he suggest buying a coin that has the potential to be over printed to oblivion and yet he thinks the value will go up... does he not understand inflation.
Haejin = dumbest piece of shit in the world.
I think that's too much to say. Besides him making a ton on posts (most of which he reposts) and hurting steemit community, Haejin is a skilled EW analyst. I would not offend his skills, just go back and check his analysis versus price, his success rate is at least 70%, skill or dumb luck, that's the question. EW is a mass psychology theory. Just because things don't make sense to happen on individual level, market is impacted by the mass.
I don't take investment advice, I do my own research before investing, so should everyone else. But from time to time I check his articles. I like to know does his waves line up with mine, and also kinda like his crazy predictions.
.... I could take a list of cryptocurrencies, randomly arrange them on a dart board, and throw a dart at it while blindfolded and there would be higher than a 70% chance that they have gone up in the past few months (I mean they all would have crashed in December/January during the BTC crash but still)
What that means is he is literally bullshitting all of you,
Hello, Good post. I'm new in this network. I'd like to know more about this theme. Thanks.