📈STEEM Investor Report 13 July 2017 (Continued Consolidation, not recovery)

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 rose 1.97% verse the USD over the past 24 hours on lower volume volume ($1,907,450) as the STEEM price continued to consolidate after Monday and Tuesday's decline. Bitcoin and the market as a whole has started to stabilize at this level and is up slightly over the past 24 hours, but the movement has not been strong enough to signal a recovery. 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, I know I've been saying this for almost a week now ...). New account creation is up with 2,350 new accounts created in the last 24 hours as we are now back on the growth track. The % vested indicator rose to 71.55% 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 up to 22,748 supported by the higher account creation numbers. The SBD inflation is down with 1 SBD worth about $0.986 and therefore slightly below 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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