📉STEEM Investor Report 12 July 2017 (Down Slightly, Consolidation or Turn Around?)

Trading Recommendation:

Hold, Bitcoin price action is may trend lower

Investment Recommendation:

Buy, expecting to be much higher in 6 months!

Analyst Commentary:

The STEEM price fell 2.85% verse the USD over the past 24 hours on lower volume but still strong volume ($2,994,010) as the STEEM price consolidated after yesterday's significant decline. Bitcoin and the market as a whole has started to stabilize at this level and is down slightly over the past 24 hours. Yesterday, Bitcoin and many altcoins overextended to the downside and now appear to be consolidating, this doesn't mean we have broken the downtrend as the declining volume on the upticks shows a lack of conviction among the bulls. I expect the Bitcoin uncertainty to last through the next week as the next big news isn't expected until 21 July when the miners should begin announcing their implementations of Segwit. The rewards pool decline appears to be slowly leveling off (it is hard to see so I drew a trend line to help show it). I plan to post my analysis of the rewards pool tomorrow (I keep getting tied up with other projects). New account creation is down again with 350 new accounts created in the last 24 hours probably due to down days in the market scaring off new users. The % vested indicator rose to 71.51% and is starting to show an uptrend which combined with the flow of STEEM off of the exchanges is a great sign for our future price levels (reduced liquid STEEM levels). Daily active accounts is down to 20,720 probably due to down days on the market lower rewards and lower account creation. The SBD inflation is down with 1 SBD worth about $0.998 and therefore maintaining the peg.

For traders, believe STEEM has significant upside potential due to fundamentals, however Bitcoin's slide could take us much lower. I advise holding and looking to buy in before the recovery starts. 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 look for opportunities to buy at current price levels.

Payout Recommendation

I am expecting the SBD premium to return when the crypto market picks back up, therefore, 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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