📉STEEM Investor Report 11 June 2017 (Account Creation Problems Dragging Down Price)

Trading Recommendation:

Hold, chart pattern indicates possible short term correction

Investment Recommendation:

Hold or Buy, wait for possible pullback and then buy

Analyst Commentary:

The STEEM price fell 8.55% verse the USD over the past 24 hours lower but still strong volume ($9,528,480) as the STEEM price pulled back while the most of the crypto market rallied to $110 Billion with Ethereum, Dash, and Bitshares leading the way. A combination of 2 factors appear to be dragging on the STEEM price. The first is a breakdown in the account creation system which has seen new account generation drop to below 200 for the last 2 days. The second is a large number of whales who have found themselves rich and are starting to cash out. The % vested indicator fell as investment was low over the past 24 hours. Active account data was not available again today (if it is not available tomorrow I will need to switch to a new data source). The SBD inflation fell with 1 SBD worth about $1.931 at the time of this post. The inflation of our peg shows excitement in the Steem blockchain.

My recommendations for today remain unchanged and will likely remain that way until the account creation problem is fixed. The cashing out of early adopters can easily be overcome with sufficient growth (est. over 500 accounts per day). For traders, hold for a possible downward slide and then buy in. On the investor side, I believe we will be significantly higher at the end of the year after communities and the flatter rewards curve are implemented. I would wait for a pullback and then buy in.

Payout Recommendation

Due to the SBD premium, I recommend taking your rewards in 50% SBD and using it to buy STEEM in the internal exchange.

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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.

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