Analyst Chart: STEEM vs Active Users

STEEM vs Active Users

@digicrypt requested information about the correlation between active users and the price of STEEM. I produced this chart tonight to demonstrate what I'm seeing:

The Data

Candlesticks: Produced from the open, low, high, and close prices recorded from my daily reports
Volume Bars: The blue vertical bars show the relative volume between trading days
Active Users (last 7 days): The blue line shows the number of active users over the last 7 days. The number peaked at 23,735 before the data set became unavailable
Daily Active Users: The yellow line is the replacement data set. It tends to be lower because it drops everyone has not posted, voted, or commented in the last 24 hours

Analysis

The correlation between Active Users is not perfect but my assessment is that tracking active user accounts provides a valuable piece of information for the fundamental analysis of Steem blockchain health which will govern long term price patterns.

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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