📈STEEM Investor Report 12 March 2018 (Bitcoin Reversal, Broader Market Up)
HOLD, broader market appears to be oversold and will likely rebound, significant risk of STEEM falling if SBD returns to $1
HOLD, expecting to be much higher after the release of communities, SMTs, and partner applications
The STEEM price is up 6.91% verse the USD over the past 24 hours on lower volume ($4,788,700) as Bitcoin rises $9.86k and the broader market market is up in response. The broader market is repeating the activity from Friday-Saturday so it continues to be beaten down by the flood of Mt Gox Bitcoin. Korean trading still leads the volume and has increased to 59% of trading activity. New account creation data is not available today. The % vested indicator is up at 70.78% as the elevated SBD price continues to drive investment. Daily active account data is not available today. SBD is at $2.63 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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@penguinpablo Daily Report
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.