Hive Has Been In The Green Zone For 5 Weeks But It Is Still Trading Far Far From Its Real Price, So Why?
Great interest and huge inflows from institutional investors accompany the rise of some cryptocurrencies, especially Bitcoin (BTC), in the crypto market. Increasing inflows and interest day by day shows that the rise will continue further. However, I think it is quite remarkable that cryptos with a powerful infrastructure such as HIVE have not yet started to follow the rises. So why?
Bitcoin (BTC) Weekly Chart
Bitcoin (BTC) is currently trading at $67,321. 3 days ago, on March 5, 2024, it hit its all-time high after approximately 28 months. Bitcoin hit a new ATH at $69,000 on November 10, 2021, and about 28 months later on March 5, it hit a new ATH at $69,170. Let's examine Hive's chart.
HIVE Weekly Chart
HIVE is currently trading around $0.44. As seen in the weekly chart of HIVE above, HIVE hit its all-time high of $ 3.41 on November 22, 2021. It is unbelievable that HIVE is trading around $0.44, even though Bitcoin has hit a new ATH and is currently trading close to the ATH. HIVE is trading almost 675% away from its all-time high, which is a huge percentage indeed.
I believe that Bitcoin (BTC) will rise further, but I have no plans to buy Bitcoin at these prices, that is, above $ 50,000. Instead, I prefer to invest in cryptocurrencies with a powerful infrastructure such as HIVE, which have not yet fully followed the rise of Bitcoin. Frankly, I think HIVE has the potential to give more profit to its investors, so I keep it at the top of my list. I believe HIVE will not only hit a new ATH but will move even higher so I will continue to buy HIVE.
Long-term HIVE investors know that HIVE likes to draw very long green candles, and I have also seen days when it started to rise, going up over 50% in just 24 hours, so even though it is far away from ATH, it will not be difficult for HIVE to reach there when the day comes. In short, I am very optimistic about HIVE and believe that it is far from its real price and is sold quite cheaply. I believe that HIVE may exceed $5 or even $10 in the future. There are millions of people in the crypto market who are unaware of HIVE, and I think eventually they will all become aware of HIVE, especially as WEB 3 becomes more widespread. Imagine how high the price of Hive can reach when that time comes, I believe it will reach incredible prices and even break unprecedented records. There may be a long time until then, but I'm not in a hurry, so I'll continue to buy HIVE steadily until then. Also, I think HIVE is getting ready for a big leap upwards, who knows, maybe it is ready. We'll wait and see.
Thank you for reading
@rtonline
This is not investment advice, I talked about current developments and only my personal opinions. Also, it is very difficult to know which direction the prices will go in the crypto market, I am just talking about my predictions and predictions may not come true. As with all money markets, anything can happen in the crypto market at any time, so please do your own research before investing.
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