📈 STEEM Investor Report 5 May 2017

Trading Recommendation:

Buy in to trade this trend, stop loss at $0.30

Investment Recommendation:

HOLD or BUY, fundamentals may have flattened and could indicate a pending turn around

Analyst Commentary:

The STEEM price rose a dramatic 15.16% verse the USD over the past 24 hours on heavy volume ($1,806,810) as most of the crypto market surged after Bitcoin broke through $1,600 and now sits at a new all time high! The % vested indicator fell slightly but is maintaining the lower rate of decline seen as overall power downs have slowed. Next week's power downs appear to be another million STEEM lower than this week which supports my prediction of a fundamentals turn around. Active accounts fell again due to the registration backlog. For traders, I would buy into this rally if you are not already in and if you are already in raise your stop to the $0.30 level to capture profits if this should crash. On the investor side, the possible flattening in the % vested indicator makes this a good point to jump in if you have a higher risk tolerance and want to catch the bottom of the trend.

The current uptrend is riding the developing crypto excitement wave, I believe it has further up to go but be aware that a crash in Bitcoin would also damage altcoins. Note that as long as Bitcoin continues to produce new all time highs, I would not expect excitement to taper off.

Payout Recommendation

Due to the SBD premium, I recommend taking your rewards in 50% SBD and using it to buy STEEM in the internal exchange.

Data Credit:

Steemchart.com
Coinmarketcap.com
Steemdb.com

Disclosure:

The report published above is based on my assessment of the cryptocurrency market. Investors should consider this report as only a single factor in making their investment decision. All investments involve market risk, including possible loss of principal invested. The author is a cryptocurrency investor and while he seeks to provide honest assessments to the best of his ability may have a conflict of interest that could affect the objectivity of this report.