📉STEEM Investor Report 4 February 2018 (Bitcoin Falling Again, STEEM Following Down)

Trading Recommendation:

HOLD, STEEM could break up or down from here; significant risk of STEEM falling if SBD returns to $1

Investment Recommendation:

HOLD, expecting to be much higher after the release of communities, SMTs, and partner applications

Analyst Commentary:

The STEEM price is down 11.41% verse the USD over the past 24 hours on lower volume ($41,174,900) as Bitcoin falls back to $8k after attempting to mount a recovery yesterday. STEEM continues to fall verse Bitcoin over the past 24 hours with technicals that show there could be more room to fall. Korean trading is still leading the volume as panic appears to have set in as the price of STEEM falls toward the $3 fair value price. New account creation data is not available today. The % vested indicator is up at 74.26% as the elevated price of SBD continues to drive investment. The Hive account@steemit account is still powering down 5.5 million STEEM per week. Daily active accounts data is not available today. SBD is at $3.12 on Bittrex which is still very elevated over the peg, receive you rewards in 50% SBD and then use the SBDs to buy STEEM on the exchange. SBD conversions are a waste of money again!

For traders, I believe STEEM is fairly valued around the $3 level, but we will remain elevated until SBD returns to the $1 peg. On the investor side, I believe we will be significantly higher after communities are released and the account creation problem is solved (the timeline for this is currently unknown). I would power up your rewards and buy after STEEM corrects to the $3 level.

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Data Credit:

Coinmarketcap.com
Hive account@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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