Trading Recommendation:
HOLD, STEEM and SBD following broader market, significant risk of STEEM falling if SBD returns to $1
Investment Recommendation:
HOLD, expecting to be much higher after the release of communities (coming soon), SMTs, and partner applications
Analyst Commentary:
The STEEM price is down 5.15% verse the USD over the past 24 hours on higher volume ($8,394,480) as Bitcoin rises to almost $7.2k before falling to it's current level at $6.8k. STEEM is holding its ground verse Bitcoin over the past 5 days and executed a similar roller coaster ride over the past 24 hours so it rose up to $2.20 before falling to current levels. New account creation data is not available today. The % vested indicator is down at 71.21% but I do not think this is a new trend. Daily active account data is not available today. SBD is at $1.92 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 even after 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 STEEM below the $3 level.
Data Credit:
Coinmarketcap.com
Steemd.com
Steemdb.com
Coindesk.com
@penguinpablo Daily Report
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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I sometimes feel that the devs are taking a little too long to get communities out... It's been ages
Agreed. They reported that they got tied up scaling the platform because it was growing faster than they expected.
plz vot me
Thanks for the report, I hadn't known about the news for communities, going to check it out!