Good morning steemians. We are all aware that the price of Steem Dollar drops from 5 USD to 1.9 USD today. This is the biggest drop down in just a month. We all wonder why the value becomes this low so I did some research on this. I found something that really made me worry.
As we know that alcoins price is always affected by the bitcoin price. When bitcoin drops, 95% of all altcoins also drop and if bitcoin goes up, all alcoins also goes up. So we can consider the value of bitcoin as one reason for SBD to drops.
Next is the law of supply and demand.
One of the factor that affects SBD price is the law of supply and demand. Most of steemians convert their SBD into STEEM to powered up their accounts. Some are selling their account and withdrawed it. So the result will decrease the price of SBD faster than bitcoin.
Here is the list of chart where I will predict the price of SBD. In the 1st graph which monitored in 24hrs. For the last part of the graph, you can see the big increase and sudden decrease which this continue, the price of SBD will increase slowly by 12 to 17 % daily.
In the second graph which is monitored in 7 days or 1 week. It show a sign of increase that is almost the same with daily graph. So I can say that this coming days, the price of SBD will continue to increase again but I can't say it how much it will goes up unless we see the monthly graph.
This is the monthly graph where we can see and analyze that the price will continues to drop slowly. But at the end of the graph, we can see a slight line circling to price going up. Is the sign of SBD going up again or it will continues to drop?
Conclusion
Base on the collected data, I can consider it, the price of SBD will increase this week. But since bitcoin continues to drop, all I can say is it depends on the bitcoin price.
Information Source: www.coingecko.com
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