📉STEEM Investor Report 21 November 2017 (Bitcoin Rises to $8,200, STEEM Down Slightly)

Trading Recommendation:

BUY, the end of the hard fork chain may allow STEEM to rally

Investment Recommendation:

BUY, expecting to be much higher in 6 months due to the release of communities, SMTs, and partner applications

Analyst Commentary:

The STEEM price is down 0.69% verse the USD over the past 24 hours on higher volume ($1,222,180) as Bitcoin advances to $8,200 and STEEM falls slightly verse Bitcoin. I expect this trend to continue as long as Bitcoin slowly advances. The opportunity to pickup STEEM with Bitcoin is still excellent, either buy here or hold out to see if it goes lower. I'm excited the STEEM team is discussing the 2018 roadmap although the fact that the 2017 roadmap will probably not be completed is disappointing. New account creation data is strong at 2,000 accounts created in the past 24 hours. The % vested indicator is up slightly at 73.95% on a light power down day and big power ups from @gavvet, @justbone, and @bramd. Pending power downs remain at very low levels and appears to be continuing to decline in future projections. Daily active accounts is up at 28,548 active users over the past 24 hours. The SBD value is down at $0.979 on Bittrex as it maintains the peg.

For traders, I believe STEEM has the ability to move much higher with an estimated fair value at $1.60 to $1.80. 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 at current value levels.

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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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