BUY, 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, Crypto is currently tied up in China regulation news, may be a value buy opportunity
BUY, expecting to be much higher in 6 months due to the release of communities and partner applications
The STEEM price is up 3.40% verse the USD over the past 24 hours on higher but still low volume ($849,427) as the broader Crypto market stabilizes as well as STEEM verse Bitcoin. Bitcoin appears to be starting to recover which will bring STEEM along for the ride. We are still very sensitive to regulatory news so maintain a stop loss around $1.20. New account creation is strong at 1,500 new accounts created in the last 24 hours. The % vested indicator is down slightly to 71.67% on a moderate power down day and continued lower investment. Pending power downs remain at very low levels and appear to be lower next week. Daily active accounts is strong at 27,554 accounts active over the last 24 hours. The SBD value is steady at $1.00 on Bittrex which matches the peg.
For traders, I believe STEEM has significant upside potential due to fundamentals and I would buy into the current bottom with a conservative stop loss. 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 whenever we fluctuate the value levels.
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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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