📈STEEM Investor Report 7 September 2017 (Crypto Consolidating, STEEM Gaining verse BTC)

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

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 6.74% verse the USD over the past 24 hours on higher volume ($3,196,530) as the broader Crypto market continues to rally and STEEM trading picks up as STEEM continues to gain ground verse Bitcoin. I recommend traders are more careful at this level because the major move upward has probably occurred but this is still a good level for long term investment. If you are a trader at this level you should have a stop loss in at the $1.50 to $1.55 level. New account creation data is strong at about 1,400 new accounts created in the past 24 hours. The % vested indicator is down to 71.80% on a moderate power down day and lower investment. Pending power downs remain at very low levels and appear to be lower next week. Daily active accounts is down slightly with 27,108 accounts active in the past 24 hours. The SBD value is up to $1.05 on Bittrex which is slightly above the peg.

For traders, I believe STEEM has significant upside potential due to fundamentals and I would watch for a possible correction and buy the dip or continue to play this rally with a good stop loss. 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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