Simple supply and demand. Since hardfork 19 we have a lot more people selling on the open market, if supply is larger than demand the price will drop. Like a rock !
However, the SBD is meant to be a pegged asset, pegged to the USD. The USD is also dropping like a rock. Since the SBD has been trading over a dollar many witnesses have raised their BIAS to issue more SBD than steem when the 50 /50 payout is chosen.
My main concern for both the USD and the SBD is once it starts heading in one direction it's not easy to stop it....
Simple supply and demand. Since hardfork 19 we have a lot more people selling on the open market, if supply is larger than demand the price will drop. Like a rock !
However, the SBD is meant to be a pegged asset, pegged to the USD. The USD is also dropping like a rock. Since the SBD has been trading over a dollar many witnesses have raised their BIAS to issue more SBD than steem when the 50 /50 payout is chosen.
My main concern for both the USD and the SBD is once it starts heading in one direction it's not easy to stop it....