📈STEEM Investor Report 25 August 2017 (Broader Market Up, Recommendation Upgrade)

Trading Recommendation:

HOLD, release of future front-end features could drive the STEEM price much higher, announcement of hiring of additional developers

Investment Recommendation:

HOLD, expecting to be much higher in 6 months due to the release of communities and partner applications, but I expect the price to move to a lower investment point

Analyst Commentary:

The STEEM price is up 2.35% verse the USD over the past 24 hours on lower volume ($1,385,360) as the broader market is up and STEEM volume is falling back to normal levels. The pump and dump appears to be over but the price level is staying high for now. The rewards pool is down slightly over the past 24 hours due increased voting activity. New account creation data is not available at this time. The % vested indicator is up today at 72.14% with a 600k power up from Hive account@blocktrades. Pending power downs remain at very low levels and appear to have leveled off for the next week. Daily active accounts information is not available today. The SBD value is at $1.04 on Bittrex which is very close to the peg. We are therefore maintaining the peg and no action is required.

I have raised by recommendation to short term hold because the dump appears to be soft and development updates from the new front end Steemit team could quickly boost the STEEM price. For traders, believe STEEM has significant upside potential due to fundamentals but I would hold and look for opportunities to buy at value levels. 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 value price levels.

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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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