Daily Steem Price Report 09/07/18

Market Sentiment

Steem holds a lot of promise. Whether you believe this assertion or not, Steem is presently one of the world's fastest and most scalable blockchain. This means that Steem is Presently underpriced.

However, the market sentiment at the moment is looking bearish in the short-term while a bullish outbreak may be likely if Bitcoin breaks out decisively from the resistance zone of $6,900.

Current Rank in the Last 24 hours:

35th place. This is a stagnant position in the last 24 hours.

STEEM Price: Yesterday vs Today!

Steem is presently trading at $1.51 (-5.1% in the last 24 hours). On a broader perspective, in the last 30 days, the price of Steem has fallen by 52% and by 218% over the last 60 days when it traded at $3.32 on May 9th 2018.

The Steem Marketcap Vs. Trade Volume in the Last 24 Hours

The Steem Marketcap as at the time of filing this report is $397,589,098 while the trade volume in the last 24 hours is estimated at $2,335,960. Comparatively, the trade volume of Steem has declined by an average of 3.8% across the major exchanges in the past 24 hours. This is perhaps because the bears are selling off already following the slight surge seen in BTC price in the last 5 days. Once the bull flag is seen in BTC, the price of Steem will most likely surge.

Steem, to Hodl or to Sell?

It is time to hodl your Steem because the recovery we are seeing now is good and may be a prelude to a bullish run. Or what shall it profit a man if he sells his entire Steem and is found wanting when the bulls come?

NOTE

This report was compiled relying on the statistics from the reference provided herein. While we did our best to ensure that the information provided here is correct, @steemitcentral all not bear any liability arising from any misinformation in this report.

See you again tomorrow for another edition of the evening Steem Price Report.
Reference
https://coinmarketcap.com/currencies/steem/

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