📉STEEM Investor Report 17 May 2017 (Reminder: Bitcoin is Dominate)

Trading Recommendation:

Watch for Bitcoin/Ripple Dominance to subside, then look for new entry point for pending rally

Investment Recommendation:

BUY, fundamentals appear to have flattened, price pullback looks like good investment opportunity

Analyst Commentary:

The STEEM price fell 14.39% verse the USD over the past 24 hours on a strong but lower volume ($7,322,450) as STEEM took a beating due to a strong rally in Bitcoin and Ripple which drew traders out of STEEM. The last 24 hours has been a good reminder of why we establish stop loses. If you had stop loses in place you should have been protected your capital and you are ready to buy into the next rally setup. The % vested indicator dropped strongly due to the heavy Wednesday @Dan powerdown which has replaced the old Monday @steemit power down. Active accounts is still rising but the rate of rise has slowed over the last 24 hours. New account creation is still strong. For traders, watch for the Bitcoin and Ripple rally to stall out, then look for a rally in STEEM to resume because there is still significant hype and FOMO in our trading activity. On the investor side, I believe we will be going up from here, this pullback is probably a good investment opportunity.

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.

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.