📈STEEM Investor Report 9 November 2017 (Bitcoin Pulls Back, Altcoins Rise)

Trading Recommendation:

BUY, the end of the hard fork train may allow STEEM to rally

Investment Recommendation:

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

Analyst Commentary:

The STEEM price is up 11.08% verse the USD over the past 24 hours on significantly higher volume ($2,504,440) as Bitcoin pulled back on news that the upcoming Hard Fork is dead. STEEM and many other altcoins rallied on the news as traders who had piled into Bitcoin in preparation for the fork bailed to other opportunities. 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 stable at 73.51% on a moderate power down day and big powers up from @czechglobalhosts, @slowwalker, and @rockz. Pending power downs remain at very low levels and appears to be continuing to decline in future projects. Daily active accounts is up at 25,198 but is still far below the 30,000 level we achieved recently. The SBD value is up at $0.992 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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