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<center>https://ipfs.busy.org/ipfs/QmTX2KP2hAhMv8m6D4ravgNpMCr1pGwK7VquCdpn7SMwNU</center>





<h3> While I love a high Steem-Backed Dollar (SBD) as much as any Steemian, it's not healthy for a coin that's supposed to be worth $1 to be worth more than that. After hitting a high of $12 a few months ago, SBD is now for the first time finally back to $1 worth of STEEM.</h3>

<center>https://cdn.steemitimages.com/DQmTdTogEsBP64wtTZD38triu4bHkmhUaGgnSNLYPLPwg34/dividerline%20cartooney3.png</center>

<h3>POSITIVE MARKET INDICATOR?</h3>

The high SBD price sparked a lot of discussion when it hit $12 last december and speculations were rampant on whether this was the result of bot-trading going out of control, or some kind of other trick. Others believed that it were the Koreans, mis-understanding the core principles of SBD and instead trading based on the charts alone.

Nobody really knows why the price was so high, but most people will agree that it was unnaturally so and that the fact it was so overpriced was perceived by many as a market indicator that the market overall needed cooling off. In reverse, a return to the normal price of SBD _could_ indicate that we've reached the end of the overbought cycle.

Now that the price of SBD is almost back to $1 worth of STEEM per SBD, it will be interesting to see how the market develops from here on. With Bitcoin dropping below $6000 we are likely to see a lot more (steep) bearish action in the market overall - but SBD can not drop any further. Perhaps the two bottoms are a little off, but I do think the return of SBD to $1 is a good and healthy sign for crypto overall. 

<center>https://ipfs.busy.org/ipfs/QmcQisTtYhQN4jbhkDgK8FAK3zh1EsYwTRSJ38F9HZoAPP</center>

A pity though that Steemians make a little less now! It does mean that right now is probably a great time to start powering up instead of cashing out, assuming you believe in the STEEM platform's future.


<center>https://cdn.steemitimages.com/DQmTdTogEsBP64wtTZD38triu4bHkmhUaGgnSNLYPLPwg34/dividerline%20cartooney3.png</center>

What do you think about the $1 SBD price? Do you think it's any indicator for market sentiment, or are the two completely unrelated?

<center>[![footercartoon new5.png](https://cdn.steemitimages.com/DQmXtn3TPJY7iQiZjPJq1NLh9MbgsCpT9rN6xKJLnPUu619/footercartoon%20new5.png)](https://steemit.com/@pandorasbox)<br><div class="pull-left">_(Art by: <a href="https://en.wikipedia.org/wiki/Roy_Lichtenstein">Roy Lichtenstein</a>)_</div>

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