What is a Danometer?
To find out what a Danometer is and how it works see the Introductory Post of this pseudo scientific device.
24 Hour Danometer
As you can see, short term Steem Pressure has remained fairly steady with only a small increase in the amount of Steem available in the last 24 hours. Forecast: Neutral
7 Day Danometer
The medium term Steem Pressure has also remained fairly steady with a small increase in the amount of Steem available in the last 7 days. Forecast: Neutral
30 Day Danometer
The long term Steem Pressure continues to rise with a small but significant increase in the amount of Steem available in the last 30 days. Forecast: Steem price falling
Steem Flowing Into Exchanges
Steem transfers in and out of Polonies are still disabled. Over the last 24 hours there has been a net flow of approximately 44 thousand Steem out of the exchange Bittrex with a market value of approximately $71,000. This is a small amount compared to the current Steem market cap of just over $383 million and 24 hour trade volume of $1.7 million. However, with Steem transfers in and out of Polonies still disabled, I believe this is creating upward pressure in the price of Steem as people are now turning to Bittrex to acquire Steem to power up. Forecast: Steem price rising
Unique Events
There is a possible upcoming event that may begin to affect the Steem Pressure. Tomorrow is the 14 day mark since Hardfork 19. This means 7 days to get the initial increased payments and 7 days to get the first power down after the increased payments. We will soon see if this has any affect on the Steem Pressure and price of Steem. Or will people see the current price of Steem as a bargain and begin to buy up more Steem to power up and boost their voting power here on Steemit.
Overal Forecast
The price of Steem will continue it's downward trend until the Poloniex issue is resolved with possible short term price increases from the rising price of Bitcoin.
Please note: I am not an investment professional. This is all anecdotal information. Please do your own research before making any investment decisions.
