Hive - Wen Bull Run?
Number Go Up?
Bitcoin has started the march to higher highs before the upcoming halving in April, yet Hive seems to not moving and evening falling against Bitcoin right now.
Although the volume is low with Bitcoin, Hive reached a new recent low of 650 sats per Bitcoin and the trend seems to point lower. Of course, TA isn't a foreseer of the future, but it paints a picture.
Looking at the yearly chart, Hive hasn't been over $0,50 for over a year and it seems to only just manage to stay at $0,30. The time is right for Hive to go up!
It is clear that Hive isn't one of the hyped tokens or talked about narratives. But we do have some new games launching that are looking exciting though such as Moon Karts and Holozing. This should create some fomo and push Hive higher. We also have rebellion for Splinterlands, so there is plenty going on on Hive.
A higher Hive price is certainly whats needed in the community and to attract new users. There seems to be some debate whether to reduce the HBD % rate which has been a drag on the Hive price without any user growth. We had for the first time a drop to 19% recently. Will there be any further moves?
Hive not alone
Hive isn't the only chain that is suffering without any pump so far, there are a few other chains that have been stagnating and hoping on a pump. Will all altcoins pump regardless? How much will Hive go up this bull run? It is hard to know when the alt season proper will start once Bitcoin has done its thing.
Some other tokens are waiting for a nice move like MATIC, WAX and CRO too. Have they been building their communties and trying to grow the same as Hive? Only time will tell.
Thanks for reading.
Credits:
Title image created with clipart used under canva pro license and Hive logo.
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There is no doubt that the value of Bitcoin is increasing over time and will increase further in the future. But the average price of Hive is $0.31.
I am most looking forward to the Holozing game. Because I love his characters their traits immensely
Bitcoin is blazing a nice trail. I am impressed the Holozing game development seems to be going pretty fast. Lets see how it ends up like.
Yea when will Hive pump, it takes forever for it.. Matic will have its time, its very close for a weekly breakout of our big triangle as last cycle :)
Yes, I am getting impateient waiting 😅 At least some good news coming with MATIC! 😀
Yea i think so, im betting on it dont wanna miss when it 🚀😅
Seems one of the safest options right now! Lambo's dont buy themselves! 😅
I think HIVE's time is coming fast... eyes on! !PGM
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The interest rate drop has nothing to do with the recent debate. The rate is re-set every 63 seconds, after 21 confirmed blocks, as the median of values set by every witness included in the round. Ten of the top 20 witnesses have 20% APR. If the 21st witness has the same, the round ends up with 20% rate. If the 21st witness has anything between 19% to 20% this value is the median. In the rest of the cases, the median is 19%. Hope it is understandable :)
Thanks that is clear. I am sure the witnesses do think about their HBD% rate for their votes, especially those near position 20.
Well, the 23rd one has 7% rate, but needs votes worth about 3 million HP to promote to the top 20. That's quite off limits for somebody like the two of us :/
yes, but the gap must have closed just recently 😅
I need it to go down a little first so my buy order can fill, then it is more than welcome to go up!
Now seems a good a price as any!
Yeah yeah, I gotta wait and see if I am going to get another bill for Jovi first!
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Keep awake, eyes wide open, soon hive will be king among crypto (hehe). Let's hope for the best
Yes, exactly! 👌
Why do you wait for a hive bullrun, plan to sell any? :)))
I had planned to buy some HBD with them.
Waiting for...
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I have to say that the price of HIVE is a worry compared to BTC at the moment. If you went back 18mionths there was good correlation, but thats not the case any more. I guess in days past, people were investing across a range of cryptos, hence in BTC went up or down, so did the rest. However, with the BTC ETFs - those guys are only investing in BTC (and mybe ETH) so hence the correlation breaksdown. If thats the case, then HIVE will have to fight on its merits (as you said through things like Holozing) to gain traction. There are certinaly interesting times ahead - lets see what happens !
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It certainly seems that it will be a tough bear market for Hive without more adoption and some of the new projects to really take off. It needs to have at least a better than 3x in order to tempt people to even think to swap Bitcoin to Hive and it seems it cannot support a higher price and hbd20% currently. However, maybe things will turn around soon and we will have some good times coming!
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It surprises me that Hive is losing value against BTC, but no matter who I ask about it, they say it's normal during bear season. Why don't I have my own opinion? Because I don't know much about crypto. I hope Hive's glory days will return.
Yes that can be normal to an extent. However we havent had the growth on Hive as we might have expected, so it seems that Hive cannot support token growth and HBD20%. Fingers crossed the glory days come again.
It's pretty much the same story as previous cycles, new coins that have no bagholders are pumping especially if there is no real product to value them on while the older chains with bagholders and a product that is used have a hard time. From what I know, Splinterlands has been dumping part of their Hive holdings and we are not in a zone yet where the public is interested in crypto. Hive also has shown to be a rather niche blockchain without too much outlook for it to really go mainstream.
I'm still hoping Hive will be part of a new bull run with some bigger adoption and price pump though.
Those are some really good points. Still some time before the mainstream join in the crypto hype again. Hive could struggle in this bull run looking at the chart and like you say, it is not attracting main stream people too much. I thought the Splinterlands team didnt power down any accounts, was it not players buying some assets?
Here is the video where Aftersound pointed out that the team is selling hive.
Thanks, I watched the video, but I understand they arent selling, it is players selling Hive to buy credits to buy cards.
its still long way to go, when HIVE reaches 0,4 we will see people dumping... people who have held hive for a long time
Yeah, I can imagine there are a few people wanting to dump and it could be strong resistance.
I certainly hope you are right, I think we will see our day in the sun soon. MATIC is a great as well, and I'm still holding my bag. Crossing my fingers!
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As someone else said, 0.4 and 0.5 will be huge obstacles for HIVE as many people are waiting for that price to be dumped...
On the other side, as much as HIVE looks like in a desperate position, the number of liquid tokens is still relatively low... Just one "more serious" app/game, and it can shoot the price up... WIll that happen, I have no idea... 😃
It could be a few challenges for Hive to overcome, but there are a few projects being built that could drive the next bull run as you say.
Hive is not known by many and if known there need to be a reason to buy. For the short term thinkers it is usually a hype - FOMO. Let's hope that having new games on Hive will hopefully help Hive to be known via Marketing and also help the price. Fingers crossed.
I think you are right, we don't seem to break out of this niche market and without a good product to cause some FOMO, there isnt much reason to buy Hive. It will be interesting to see how the year progresses though. Fingers crossed!
Hive is reliable and has some great communities, but as far as the price goes, well we will be lucky to see 50 cents imo.
It is what it is, for price action you go elsewhere.
I think you are right there Ed. It is what it is, and if you want price action, you need to go elsewhere.