📈 STEEM Investor Report 16 April 2017 (New Pump, beware the dump)

Trading Recommendation:

Look for trades on hourly trends, rally has started, use stop loses in case it turns

Investment Recommendation:

SELL or HOLD, fundamentals continue to decay, no change expected for the next 2 weeks

Analyst Commentary:

The STEEM price rose a dramatic 15.95% verse the USD over the past 24 hours on a significant volume spike with no increase in the % vested figure which leads me to believe this is primarily short term trading activity. This represents a great opportunity for those holding STEEM on exchanges to cash in at good prices but without actual investment into the Steem blockchain I don't see how it can last. Steem is trading mostly in line with other major altcoins which suggests that if Bitcoin rallies again that STEEM will drop with the other altcoins. Active accounts rose an insignificant amount; I expect it to rise over time due to slowly increasing rewards. For traders, I do not advise joining the trend at this level, if you are already in, make sure you have stop limit orders to capture your profits because this will likely crash quickly. On the investor side, the % vested indicator does not appear to be breaking out of its downtrend, therefore, I expect the STEEM price to return to the $0.15 to $0.18 level after this altcoin pump ends.

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.