📉STEEM Investor Report 8 July 2017 (Broader Market Down,Traders Sell, Investors Prepare to Buy)

Trading Recommendation:

Hold or Sell, Bitcoin may drag us much lower

Investment Recommendation:

Buy, expecting to be much higher in 6 months!

Analyst Commentary:

The STEEM price fell 5.02% verse the USD over the past 24 hours on low volume ($2,426,040) as the broader crypto market is down today on rising apprehension about Bitcoin's pending Hardfork and 1 August deadline. The rewards pool decline appears to be slowly leveling off (it is hard to see so I drew a trend line to help show it). I'm still gathering data in order to do a statistical analysis of where the rewards pool is headed. New account creation is remaining low with 300 new accounts created in the last 24 hours. The growth slowdown is already impacting the price and if it continues it will continue to have negative impacts on the STEEM price. The % vested indicator rose to 71.36% and continues to remain essentially flat over the past 2 weeks which indicates to me that investment is matching power downs. Daily active accounts is down to 21,936 probably due to account signup issues. The SBD inflation is down with 1 SBD worth about $1.006.

Bitcoin is currently dragging down the entire market, if Bitcoin can get its act together and inspire confidence again we could see a substantial rally in the whole crypto market. For traders, believe STEEM has significant upside potential due to fundamentals, however Bitcoin's slid could take us much lower. I advise selling and looking to buy in lower or holding what you have now. 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 look for opportunities to buy at current price levels.

New @psa post

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.

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Crypto Report

Done forget to check out the NEW Crypto Report which is a collaborative report written by @digicrypt and myself.

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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