📈STEEM Investor Report 12 January 2018 (Bitcoin Continues to Fall, Broader Market Following)

Trading Recommendation:

SELL, STEEM is exiting a pump and may stabilize at the $3 level

Investment Recommendation:

HOLD, expecting to be much higher after the release of communities, SMTs, and partner applications

Analyst Commentary:

The STEEM price is up 5.84% verse the USD over the past 24 hours on higher volume ($19,620,100) as Bitcoin rises to $14.6k and the broader market moves upward. STEEM continues to gain ground versus Bitcoin as the SBD price is up slightly. The SBD pump has been supporting the elevated STEEM price but if it falls significantly, STEEM will fall as well. New account creation is strong at 1,800 new accounts created in the past 24 hours. The % vested indicator is up at 75.90% as the inflated SBD value continues to drive investment. SteemDB power down statistics are back online but it will take time for me to fix the power down graphs. Daily active account is down at 46,724 accounts active over the past 24 hours as falling STEEM may be driving new users away. SBD is at $6.86 on Bittrex which is still very elevated over the peg, receive you rewards in 50% SBD and then use the SBDs to buy STEEM on the exchange. SBD conversions are a waste of money again!

For traders, I believe STEEM is fairly valued around the $3 level and can not continue higher without the actual launch of new features or a audience expanding partner project. On the investor side, I believe we will be significantly higher after communities are released and the account creation problem is solved (the timeline for this is currently unknown). I would power up your rewards and buy after STEEM corrects to the $3 level.

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Data Credit:

Coinmarketcap.com
@penguinpablo Daily Report
Steemd.com
Steemdb.com
Coindesk.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.

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