📉STEEM Investor Report 10 November 2017 (Bitcoin down $1,000, Altcoins Follow)
Trading Recommendation:
BUY, the end of the hard fork train may allow STEEM to rally
Investment Recommendation:
BUY, expecting to be much higher in 6 months due to the release of communities, SMTs, and partner applications
Analyst Commentary:
The STEEM price is down 7.69% verse the USD over the past 24 hours on lower volume ($1,830,240) as Bitcoin continued to correct to $6,800 and brought the majority of the crypto market down with it. STEEM is gaining ground verse Bitcoin as traders move back into altcoins. The opportunity to pickup STEEM with Bitcoin is still excellent, either buy here or hold out to see if it goes lower. New account creation is picking up at 900 accounts created in the past 24 hours. The % vested indicator is up at 73.58% on a moderate power down day and big powers up from @blocktrades (259k), @steemaccess, and @triplej. Pending power downs remain at very low levels and appears to be continuing to decline in future projects. Daily active accounts is down at 24,256 and is still far below the 30,000 level we achieved recently. The SBD value is down at $0.951 on Bittrex as it barely maintains the peg.
For traders, I believe STEEM has the ability to move much higher with an estimated fair value at $1.60 to $1.80. On the investor side, I believe we will be significantly higher at the end of the year after communities are released and the account creation problem is solved. I would power up your rewards and buy at current value levels.
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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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