📈STEEM Investor Report 7 November 2017 (Bitcoin Pulls Back, STEEM Rises Slightly)

Trading Recommendation:

BUY, temporary dip is caused by Bitcoin rally

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 0.98% verse the USD over the past 24 hours on lower volume ($887,282) as Bitcoin has pulled back to $7,200 and pushed traders back into altcoins. STEEM is up verse Bitcoin but will likely decline again if Bitcoin resumes its rally. The opportunity to pickup STEEM with Bitcoin is still excellent, either buy here or hold out to see if it goes lower. New account creation is slow at 200 accounts created in the past 24 hours. The % vested indicator is down at 73.54% on a moderate power down day and big powers up from @hr1, @danbain, and @lrock. Pending power downs remain at very low levels and appears to be continuing to decline in future projects. Daily active accounts is up at 24,627 but is still far below the 30,000 level we achieved recently. The SBD value is up slightly at $0.972 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 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 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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