Hive Price Dumping - But How Much?
61 Cents and Falling
Five days ago, I posted about how Hive was still holding strongly above 80 cents. I wondered if it was just a case that folks had not yet had time to power down and dump. Even after seven days it was still holding up pretty well.
I saw a lot of dumps, but it also kept bouncing back. After a few more days, it seems there is quite a lot of dumping now happening. I don't know this for sure, but I am guessing that there were people that held out for a couple of days before starting their power downs.
How Far Will it Drop?
The tricky part as always, is guessing how far the price will drop this time before stabling off. One thing that has seemed pretty consistent over the past few years, has been a very slow trickle downward in price after a nice pump. Every time you think you've caught the bottom, it just keeps going down.
I think this is one of the negative sides of the fact that Hive infinitely pumps out coins. The theory is that keeping your coins staked offsets these extra coins, but it never makes up for the insane value lost by a constantly dropping price.
However, if we can keep getting new people interested in Hive and buying up the price, there will be fewer and fewer people willing to sell for under a dollar. The difficult part is keeping Hive from dropping to 20 cents and lower all the time, which is where we end up getting all of the new people coming in.
As for me, I wish that I'd powered down a few days earlier because it would have been a great opportunity to sell high, and buy back 30 cents or so cheaper.
When $5 Hive?
I see no reason why Hive couldn't reach 5 or even 10 dollars. A lot of people have been saying this for a long time. We all know that this blockchain is extremely underrated and undervalued.
My hope is that it will get down to 50 cents at the lowest, but this is probably just wishful thinking. However, in the long term it doesn't really matter all that much because I feel like we are just in the beginning of this run.
On a side note, be sure to check out my wife @afturner's new profile on Hive. She has just started posting and even published some NFTs on the showroom. She could also use your vote on Foundation to get her work published there.
Posted Using LeoFinance Beta
UPDATE: BAM! Just a few hours later, we've dropped all the way to 51 cents. Down 22.34% today. Gotta love Crypto!
You've made logical points. I share these thoughts too. I'd really like hive to stay at nothing less than 0.5, but this is just the beginning though, ups and downs are to be expected; one just has to brace themselves.
Posted via neoxian.city | The City of Neoxian
Can you imagine if we got to 5 bucks and that were the bottom? It would be amazing. I'd be pretty satisfied and ok with all the ups and downs you could throw at me at that point. For now we just keep bouncing around under a dollar, which is fine.
Hahahaha. Yeah you're right. Well..
Predicting a bottom is always difficult and very risky! There is an old saying in Trading ~ "Never try to catch a falling knife" , and I have been cut too many times over the years with Share Trading.
I am more surprised that price has stayed high for this long...
That's what I keep saying. I am hoping that it's a good sign that there are some real Hive bulls out there. Time will tell!
I hope so too Rick √
!wine
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You Earned 0.100 WINE As Curation Reward.
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WINE Current Market Price : 0.270 HIVE
I don't know where the price is going but if it does hit $0.30 I would be glad as that would unique opportunity to buy back the hive I sold for cub some weeks back.
If there is anything I have learnt so far it is that liquidity is important. I will be keeping a percent of my hive liquid in preparation for any pump.
It is a marathon, not a sprint.
Posted Using LeoFinance Beta
Yeah, a mistake that I've made over and over again is not keeping some Hive liquid for the major pumps. A couple of years back I got really pissed off because I had some liquid Steem that I wanted to sell during a pump, and The deposit was offline on both major exchanges that I use. By the time I could deposit, the price had dropped again.
I loathe leaving any crypto on exchanges for obvious reasons, but especially DPOS coins. You remember what happened when the exchanges used those coins to vote for Justin Sun's witnesses. Yuck!
I am happy with the amount of Hive I have at the moment but I would like to buy a little lower. I am hoping that with this bull market the coin will go to around $3, it won't be soon but we will see.
3 would be quite respectable. Even if we could get to 3 and stabilize at 2 for a while I'd be a happy camper. I would really pump up those curation rewards! My goal over the next year is to hold 200k, but that may be impractical if the price keeps rising.
You've got your $0.5 HIVE today.
Posted Using LeoFinance Beta
Haha, yeah I updated this post a while ago commenting on that. Sheesh.. didn't take long.
Yeah, this is just nuts. As long as we don't head back down to $.10 I guess we are doing okay. I was pretty down in the dumps about it yesterday, but today I am feeling a bit better about it. It think there was some market manipulation happening out of Korea or something that was driving the price. This feels like it is a more sustainable level at least for now. I agree on the $5 to $10 thing!
Posted Using LeoFinance Beta