📉STEEM Investor Report 9 September 2017 (Crypto Falling on more China Regulation)

Trading Recommendation:

HOLD for today, BUY in shortly, 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, there may be one more move higher

Investment Recommendation:

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

Analyst Commentary:

The STEEM price is down 12.55% verse the USD over the past 24 hours on lower volume ($1,621,430) as the broader Crypto market falls on news of possible Chinese shutdown of Crypto exchanges. If you had stop losses in place you could be looking at a good buy in point once the market stabilizes. I would wait to see how the Chinese news shakes out before you dive in though at which point I would strongly recommend buying in. New account creation data is strong at about 2,600 new accounts created in the past 24 hours. The % vested indicator is down to 71.70% on a heavy 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 unavailable today. The SBD value is steady at $0.986 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 the most recent decline to bottom in order to buy back in. 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 the bottom which will be 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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