📈STEEM Investor Report 19 April 2018 (Bitcoin Creeping Up, STEEM Over $3)
Trading Recommendation:
HOLD, STEEM and SBD wait to see for trend direction, significant risk of STEEM falling if SBD returns to $1
Investment Recommendation:
HOLD, expecting to be much higher after the release of communities (coming soon), SMTs, and partner applications
Analyst Commentary:
The STEEM price is up 7.40% verse the USD over the past 24 hours on higher volume ($26,789,400) as Bitcoin is up slightly at $8.21k on average volume as the rally is still trying to find its legs. STEEM has risen verse Bitcoin with Korean trading maintaining 62% of the trading volume. I recommend maintaining your position but not adding to it until we see where the broader market wants to go. Set your stop loss at $2.50 because that will indicate a reversal downwards. New account creation is slow at 400 new accounts created in the past 24 hours. The % vested indicator is up slightly at 71.32% as the ratio between STEEM/SBD is falling back towards 1.0 which is increasing investment. Daily active accounts is up slightly to 64,370 active users over the past 24 hours. SBD is at $2.92 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 even after 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 STEEM below the $3 level.
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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Thank you for your analysis. Today Steem several times punched the support line on 3 dollars. I hope that it will still grow now, getting to the next line. Of all the variety of crypto currencies, Steem seems to me the most promising.
One big flaw with many programs running on the ethereum platform is how any time you wish to alter the blockchain you have to pay gas. So for example, every coment on a steemit post i write would actually cost me money <-[correct me if im wrong] . The fact that I am not paying any gas price to write my blogs or comments is what gives me fate in this platform. That and the awesome community:)
The use of bandwidth and voting to control the blockchain spam issue is what makes Steem possible.
set the stop loss at 2.5 ??? that would mean going long
I would short steem right now if i could
we did go up nicely but look at the volume behind it...
rising price and dropping volume is dangerous in my mind. I fear another drop
At this point we are tied to the movements of Bitcoin, if it continues to rise STEEM will likely rise as well.
that is true, this whole scene will change once a coin starts to behave independent of bitcoin. Who knows, steem might be it
This is a very nice post. After reading this, i believe that I can now invest in steem. However, I am afraid of bitcoin because of its unpredictable trends.