I am shocked the SBD to steem ratio is still below 1. It has had such a strong track record of being over 1, typically around 1.2-1.3. It has been below 1 for several weeks now. I would have bet good money that it would have recovered, but here we are I guess. Part of the reason is the price of Steem has remained below $1. Here is a chart of the recent steem price action from coingeicko.com.
The price of Steem has struggled to recover. I would have thought it would have been going up with Bitcoin, but maybe all of the money right now is in Bitcoin and not in other cryptos? I will need to think about that a little more, but I could easily see how this would be the case.
What are your thoughts on this? Do you think Steem is going higher in the near near or is sub $1 the new norm for a while until Steemit becomes a little more mature? Initially, I thought it was going to recover, but now Inam leaning toward sub $1 being the norm for a while.