📈 STEEM Investor Report 6 June 2017 (User Growth is Driving Price)
Trading Recommendation:
Buy, trade on hourly trends as there is money to be made on the fluctuations, mid term trends are up
Investment Recommendation:
Buy, fundamentals are turning positive, we could have room to run
Analyst Commentary:
The STEEM price rose 18.05% verse the USD over the past 24 hours on a volume spike to ($17,650,700) as STEEM experienced a volatile rally up to its current level at $1.82 . The broader crypto market is also continuing to advance which is providing support for the price increase. The % vested indicator fell as whales are seeking to cash out and investment is becoming more expensive. Active accounts has reached a new high since I began tracking it of 21,108. The spiking account growth is creating an interesting problem for the @steem account which is powering up to ensure it has enough Steem power to delegate. The account now has over 4 million Steem power locked up in delegation. The SBD inflation is rising again with 1 SBD worth about $1.986 at the time of this post. The inflation of our peg shows excitement in the Steem blockchain.
While the % vested indicator has risen slightly, I think there is enough user growth to continue to drive the price past $2.00. The current outstanding risks are new account retention and the trend towards increasing pending power downs. For traders, I think we are in a sustainable rally, I encourage you to jump in with a stop loss around $1.50 if this turns. I would remain careful of short time over-extensions like I wrote about yesterday. On the investor side, I believe we will be significantly higher at the end of the year after communities and the flatter rewards curve are implemented and the currently improving fundamentals are a good reason to buy in now.
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.
Marketing Trust
Please support the @marketing-trust by following and upvoting the daily posts. The project was created to generate capital for a paid advertising campaign to promote Steem.
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.
Discord Chat:
You can reach me on Discord on my private server or through private message to LeongKhan
Thank you for the analytics @leokhan We are in exciting times!
Especially for the long term!
Haha Yes you got it!
I say power up and think/play long term.
SP- POWER UP-POWER UP
(Youtube-Mario Bro sound)
God I'd love hearing that sound every time we powered up!
Just wanted to let you know I gave you a shout out in this post
https://steemit.com/steemit/@digicrypt/steem-hits-usd2-00-usd-price-forecast
Thanks for the mention. I agree that the future is looking good. I upvote your post :)
No problem, thanks!
thanks for the update.
very informative.