📉STEEM Investor Report 18 February 2018 (Bitcoin Rally Stalled, STEEM Down)

Trading Recommendation:

HOLD, broader market direction is uncertain, significant risk of STEEM falling if SBD returns to $1

Investment Recommendation:

HOLD, expecting to be much higher after the release of communities, SMTs, and partner applications

Analyst Commentary:

The STEEM price is down 3.53% verse the USD over the past 24 hours lower volume ($20,383,700) as Bitcoin stalls out and remains at $10.8k and the broader market market is down in response. STEEM is down verse Bitcoin as the Bitcoin rally continues to draw away traders with Korean trading still leading the volume as it accounts for 80% of market volume. New account creation data is not available today. The % vested indicator is up at 70.19% on continued SBD reinvestment. Daily active account data is not available today. SBD is at $5.02 on Bittrex which is still very elevated over the peg, receive you rewards in 50% SBD and then use the SBDs to buy STEEM on the exchange. SBD conversions are a waste of money again!

For traders, I believe STEEM is fairly valued around the $3 level, but we will remain elevated until SBD returns to the $1 peg. On the investor side, I believe we will be significantly higher after communities are released and the account creation problem is solved (the timeline for this is currently unknown). I would power up your rewards and buy after STEEM corrects to the $3 level.

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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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