STEEM to $20 EACH (+350%) #The Anderson Report: Steemit Token Technical Report + The Fundamental That Will Make it All Happen!

in #steem7 years ago (edited)

Strap in! Steemit is going to new heights this year, millionaires will continue to be made.

Should you find yourself scouring the markets for an underbought gem that has +100% days in full blown bull markets, STEEM is a glaring example of a serious mover that has a lot of distance to run in this altcoin cycle.

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Above, this chart is looking back to early 2016, STEEM made its first big break with a lot of enthusiasm. In just a few short weeks, it grew from an average of a mere $.15 with a steep short climb to a ~$2.80 peak, nearly 20x; all it takes it a little excitement in this platform to generate massive returns for investors and traders alike.

As with all Anderson Reports, we will quickly overview both the tasty technicals, as well as a key fundamental that will make this Steemit push happen. This report will cover STEEM for short and long-term future projections of price action.

Let's jump right into it:

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This bull run isn't nearly over yet, this is the first leg of an enormous move set to play out over the coming months.

Above is the weekly chart for STEEM. I've charted a projected movement for the next 90 days; The key to this move will be a weekly close as a doji on this week's candle. If Bitcoin can regain some ground over the coming days, this spinning top will be bought back up to hold the bears off. After a closed doji on the week, STEEM will fight to duplicate the magnitude of the move that we've been riding for the past week, roughly +80% to +100%.

STEEM will push hard to get over $10 over the next 7-10 days eventually clawing its way up to $11-12; It will then begin an extended consolidation as a bull pennant that forms over the next 90 days.

Here's where the key fundamental comes into play: Smart Media Tokens.

Steemit will not only be able to support a social media community, new tokens will be built on top of the platform starting this year. Market expectations will be that a buy-up will happen - new ICO's create tokens backed by STEEM. A good number of the STEEM tokens that are not tied up in Steem Power will be absorbed, limiting supply where before a large glut existed on Bittrex and other exchanges.

Looking at the on-balance volume (OBV) above, Bittrex is experiencing an incredible buy-up already. If we add at the data from @lukestokes about where STEEM is being moved below, it confirms that indeed STEEM is being sucked into Bittrex accumulator's wallets; 5.6 million STEEM were transferred to Bittrex this week alone.

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Whether you're a trader who wants to make a quick 80-100% profit, or an investor sticking around for another 300%, there are profits to be made from STEEM.

Entry below $5 due to Bitcoin volatility is ideal, and buying uncomfortable deep dips will obviously result in the most profit.

Pyramiding after the playout of the bullish formation until April/May could be a way to temporarily reallocate funds more aggressively after taking some profits at $11. But however you may choose to be involved, hang in there, Steemit is going big places.

Are you currently holding STEEM outside of Steem Power?

Do you have a STEEM target that you'd like to share for 2020?

Leave your answers in the comments below.

New followers be sure to upvote and comment to receive an upvote in return!

Often times I go to my new follower's content and upvote a few as well, especially if I'm online.

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As always friends, be sure to check back often and click the follow button; my researchers, sources, and I follow the markets very closely and maintain a continuous feed of up to date fundamental analytics you should keep an eye on.

This is Steemit Exclusive Content - All content is mine and written and edited by me. This article is not investment advice.

-The Beached Whale-
Jeffrey Anderson
Editor in Chief - The Anderson Report

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My feeling is that we need to get to millions of users for the price to really rocket. Then there will be the demand to drive it up

More users certainly wont hurt; continued upward momentum of crypto will drag Steemit along with it in 2018.

SMT's will create that demand and new users will come along with the new tokens that arise on Steemit.

We're seeing a lot of speculation rather than actual use of crypto. That could just be a bubble. Steemit is useful and so should have value. Just my opinion

Steemit is indeed, one of the currently operating, best case uses of crypto.

You speak my mind bro!
Thumbs up!

tarumar oldu Vay gençlik vay

Good job. Be detailed and supported by data analysis. I'm inclined to believe your optimistic forecast. This is a huge leap for the platform. We all find ourselves in the win. I can already see that even beginners get a good payout here. Everyone has a chance to succeed. And it pleases. Thank you for your work with graphs. I really appreciate this hard work. In fact, to analyze the market is not everyone.

Me and my husband are having our family crypto portfolio for long term investment but he is the one doing all exchanges. So the day before Steem became over 6$ I was begging him to buy at 2,25$ and he was telling me that there is no need since anyway I am generating some Steem by posting. It’s not like it is some great amount thats why I wanted us to invest fresh money. But he was not sure if it will be enough profitable. Well... I am still mad at him and he feels veeery guilty for not buying Steem that day. And what is the takeaway from my story - to always listen to your wife. 😃😃

Exactly! This is one reason why my hubby and I keep our crypto accounts separate from each other, but that's just us.

Steem to $20 is a definately possibilty. Hope to see it!

Steemit has really proven to be for the future!

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Growing steem value will also increase the attention the platform will generate. looking up for a bright future :)

wow ... so incredible what if the $ 20 steam price. will many people become billionaires. thank you for sharing this friend's information.

I do not doubt the growth of the STEEM in the near future. What is your opinion on the SBD? what will happen to him?

I'll be covering SBD's interesting outlook in a coming Anderson Report.

If you follow me, you won't miss a beat!

The future of steemit is looking really good and promising

thank you for the suggestion!

Good job. Be detailed and supported by data analysis. I'm inclined to believe your optimistic forecast. This is a huge leap for the platform. We all find ourselves in the win. I can already see that even beginners get a good payout here. Everyone has a chance to succeed. And it pleases. Thank you for your work with graphs. I really appreciate this hard work. In fact, to analyze the market is not everyone.

I just bought 30$ worth of steem to try it out. I like the idea 😀

It will be awesome if steem hits $20! I think there is a good chance and who know how high it can go from there!

This is exciting! Really gives me hope for the future. Not only for investing and what not but the potential overall Steem and Steemit have, I enjoy being a part of it, and look forward to the future. Thanks for the information.