Converting HBD to Hive in a Bearish Market
As expected the crypto Market is going down and the Bitcoin which is the king of the cryptocurrency is going to retest their support levels.
The good support level is around $60,000 which is very crucial for the Bitcoin to continue its Bull Run if in case it break down its support level then surely it will give a huge dip to reach at least $50,000.
So for a strong bullish sentiment, we need a good support at 60,000.
But anyway Every dip is a benefit for an investor to invest in their favorite coin.
Also for the hive users who are wishing to invest in hive But didn't it yet because of the price go upside.
They have now the best time to invest in the hive coin, where the price is under 0.36 Cent or those who want to convert their hbd to Hive will be the best time for converting.
If I talk about myself, I have a strategy by converting #HBD to #Hive on daily basis. I don't care the price but I keep on converting my hive back dollars to hive.
Also, I am very happy that if the price of Hive comes down below from $0.40 which will be the best time for conversion and investment.
Therefore I think it is the best time for converting hbd to Hive because soon we will see a good reversal which will give us a good profit.
I hope you find this post interesting and I hope you will like it. If you like the post, please leave feedback in the comments section so that the next one will be even better. Thank you for sticking with me until the end.
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REMEMBER: We should prepare for the unexpected and hope for the best. Life may not be easy, but you must do your best and leave the rest to God.
I prefer The HIVE/HBD Market to the conversion process.
Market transactions are faster and the program lets you see the positions people are taking in HIVE and HBD.
The conversion takes 3.5 days.
I use the HIVE to HBD conversion when the price of HBD is significantly below a dollar. My PeakD wallet says that HBD was trading at $0.967. The conversion is probably a better deal.
Sadly, the HBD to HIVE conversion is rarely a good deal. The program charges 5% interest on the transaction; so I only run the HBD to HIVE conversion when the price of HBD is north of $1.05 ... which rarely happens.
Saving HBD when HIVE is High
BTW, your observation is correct. One should transfer their HBD to savings when the price of HIVE is high. One should then remove the HBD and either trade of convert it to HIVE when the price drops.
Personally, I suspect that HIVE has a little bit more to drop in this cycle.
The problem we face is that the game of saving HBD when it is high and converting HBD to HIVE when the price drops has the adverse affect of increasing the HIVE floating on the market; so it pushes the price of HIVE down.
!WINE