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My opinion is that buying Steem with your SBD is the better way to go in the long run. Steem, just like BTC goes up and down with its value, but you have more opportunity to make more with Steem. There was a time, when Steem was at $.07 cents....1000s of % differences when it rises in value.
I've never run a model to determine what the outcome would be if you bought BTC when it was lower and then turned around and bought Steem back during a dip. I think you'd have to be on the ball with your trading skills. It is something that folks here are doing, but you have to have nerves of steel to take those risks in trading.