📈STEEM Investor Report 6 September 2017 (Crypto Wide Rally, STEEM Up 32%!)

Trading Recommendation:

BUY, release of future front-end features could drive the STEEM price much higher, announcement of hiring of additional developers is positive news which will have lagging impact on price, at possible bottom now

Investment Recommendation:

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

Analyst Commentary:

The STEEM price is up a massive 32% verse the USD over the past 24 hours on slightly higher volume ($1,674,050) as the broader Crypto market rallies. STEEM has completely recovered from the pounding it has taken over the past 3 days. I recommend continuing to buy in at this level because we may be able to generate the momentum to close in on our fair value which I believe is between $1.75 and $2.00. Traders should move their stop loss up to around $1.50 in case of new regulatory news that could pound the market. New account creation data is strong at about 1,900 new accounts created in the past 24 hours. The % vested indicator is down to 71.84% on a heavy power down day and big power ups from @minority-report and @pharesim. Pending power downs remain at very low levels and appear to be lower next week. Daily active accounts is up slightly with 27,413 accounts active in the past 24 hours. The SBD value is up to $1.06 on Bittrex which is slightly above the peg.

For traders, I believe STEEM has significant upside potential due to fundamentals and I would use the upward momentum to join a STEEM rally. On the investor side, I believe we will be significantly higher at the end of the year after communities are released and the account creation problem is solved. I would power up your rewards and buy at these levels which are far below where I think we will be at the end of the year.

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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.

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