📉STEEM Investor Report 7 January 2018 (Altcoins Rising Even As Bitcoin Slips)

Trading Recommendation:

SELL, STEEM is experiencing a pump may stabilize at the $3 level

Investment Recommendation:

HOLD, 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 0.17% verse the USD over the past 24 hours on lower volume ($25,554,200) as Bitcoin falls slightly to $16.8k and the broader market is up as altcoins continue to advance. STEEM is holding ground versus Bitcoin and may be finding a new floor. The SBD pump is continuing with the over inflated value of SBD helping to drive STEEM higher. New account creation data is not available today. The % vested indicator is down slightly at 75.46% as the inflated SBD value continues to drive investment. SteemDB power down statistics has been down for the past week and I no longer have enough data to track pending power downs. Daily active account data is not available today. SBD is at $8.62 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 and can not continue higher without the actual launch of new features or a audience expanding partner project. 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 after STEEM corrects to the $3 level.

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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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