📉STEEM Investor Report 10 April 2018 (Bitcoin Down Slightly, Broader Market Mixed)

• Data pulled 14 hours ago, just now getting to posting

Trading Recommendation:

HOLD, STEEM and SBD following broader market, significant risk of STEEM falling if SBD returns to $1

Investment Recommendation:

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

Analyst Commentary:

The STEEM price is down 1.10% verse the USD over the past 24 hours on lower volume ($2,554,200) as Bitcoin fell slightly to $6.75k and the broader market is mixed but mostly flat in response. STEEM is holding its ground verse Bitcoin over the past 6 days. New account creation weaker at 400 new accounts created in the past 24 hours. The % vested indicator is flat at 71.21% but I do not think this is a new trend. Daily active accounts is up at 58,522 and has been relatively stable over the past month. SBD is at $1.85 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 even after SBD returns to the $1 peg. 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 STEEM below the $3 level.

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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