📉 STEEM Investor Report 10 April 2017

Trading Recommendation:

Look for trades on hourly trends

Investment Recommendation:

SELL or HOLD, fundamentals continue to decline, pending power downs look lower for next week

Analyst Commentary:

The STEEM price fell 3.89% verse the USD over the past 24 hours on lower volume as Bitcoin renewed it's rally and pulled traders out of altcoins. The % vested figure dropped sharply due to the @steemit Monday power down but future power downs appear to be lower over the next week. Active accounts over the last 7 days have also dropped off sharply most likely due to the reduced reward payouts. For traders, the STEEM/BTC price has broken lower due to the Bitcoin rally but appears to be stable at this level. Another 1.5 million STEEM is scheduled for power down over the next 48 hours so expect at large supply of STEEM for sale. I recommend looking for a new trend to start on the hourly charts. On the investor side, no change, the fundamentals have been consistently declining which tells me that the price level will break to catch up with fundamentals or the decline is built into the price level. Either way, I don't see long term improvement until after full payouts resume.

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.