📉STEEM Investor Report 17 October 2017 (Broader Market Mostly Down 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 down 1.78% verse the USD over the past 24 hours on slightly lower volume ($960,051) as the broader crypto market is mixed but mostly down. This is still a good opportunity to pick up STEEM with Bitcoin, I have an order in on Bittrex right now. New account creation is slow at only 200 accounts created in the last 24 hours which is probably an issue with account creation bottleneck. The % vested indicator is up significantly at 74.16% on a moderate power down day and big power ups from @steem, @grumlin, and @hr1. Pending power downs remain at very low levels and appear to be lower next week. Daily active accounts is up at 28,986 accounts active over the past 24 hours which is well below our recent ATH. The SBD value is down at $0.948 on Bittrex.
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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