I have nothing against Koreans pumping HIVE occasionally via Upbit, especially using fiat (KRW). I mean I know it's an unsustainable move and a dump follows, so I act accordingly. So do others. So do Koreans, I assume.
Today we are either in the middle, but likely over the peak of such a pump.
As often, it started at 3 am today (I think that's UTC timezone).
Check out the market volume for the HIVE/KRW pair on Upbit:
It represents 80%+ of the daily volume on the HIVE markets tracked on CMC (which doesn't include our internal market on Hive).
The HIVE/KRW pair often has a crushing volume on CEXes (above 60%), but when it goes above 75% corroborated with the price of HIVE pumping, you can be sure what's going on...
You can almost bet that this is a short-term thing. A few days usually. The most I saw this sustained was around a week, but maybe then the general market conditions were favorable to such a price development.
Either way, I already made my speculative moves, betting that the pump was over. In higher amounts than usual too, since I had quite a bit of liquid HIVE. Waiting for the second part of this action to complete, to refill my bags.
The thing about these pumps is that you need to be aware of them as they happen and to have liquid funds to be able to trade. I missed many of them because I either didn't notice them at the right time or I didn't have liquid funds to play. Otherwise, you might as well ignore them. Keep doing what you're doing on Hive and ignore the short-term price fluctuations, and you'll be just fine.
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I believe this time it will stay longer above $0.36. HIVE made it to the 1st position in Binance Top Gainers.
Looks like it was a quick one, as usual. If the market started to go up, then HIVE had a chance to hold a higher price level. Otherwise, I don't see how.
0.38 ? That is the tiniest of pumps ...
Well, they don't push it hard anymore because we know their moves and sell when they pump it instead of buying to feed the pump. A 27% pump from start to end is not negligible, however... because they started at 30 cents. And at 38-39c there's a strong resistance.
Oh, come on ... calling 27% a pump ... you haven't been long enough in the stock market me thinks...
Actually, I have, but not as active lately... But, this is the 1-up-to-a-few-days kind of pump. Some pumps are fueled for weeks, maybe months before they crash... See meme coins... I think - haven't been following the phenomenon. Or the hype part of a bull market...
Yup, my sell orders triggered, I am now looking to buy back in when it comes down again.
It's always nice when you can take advantage of these short-term predictable patterns.
Ah, the Koreans are back. Glad you did took advantage of the Hive pump, I neither had liquid funds nor was I aware of it at the time it started. This one could last a few days.
I wasn't aware at the time it started either. It's difficult to catch the starting points because you don't know who pushes the price higher or why. Only after the telling signs accumulate you can realize they are behind the pump. But I sold HIVE "at the top", and expect to buy back "at the bottom". I would already be in profit if I bought back right now, but it is too soon.
Right, better to wait more before buying back. I think the effect of the pump is still present.
I saw this article linked on @coingecko: https://www.dlnews.com/articles/fintech/bitcoin-miner-hive-sees-ai-driving-100m-usd-revenue-gain
Good timing! They may very well used the name confusion to help with the pump.
It is a confusion that keep on happening. We might be able count on it for many years to come.
Yep! And if they really push into the AI sector, with the coverage this gets nowadays and I expect in the future, the name of Hive will keep popping up.
I guess I need to lower my targets as well. I was waiting for 0.4+ and if they stop at 0.38 then I will never hit haha. Thanks for sharing these though.
That sucks! I rarely set sell orders during these short P&Ds unless I need to go to sleep. Otherwise, I prefer to check on its evolution every once in a while and decide when to sell and when to buy back based on what I see. I don't hunt for the top or the bottom. Sometimes I catch them if I am lucky (I caught them both in a previous P&D, but didn't catch either of them this time), but the important thing is to make a profit in the end.
Yeah I agree. At the end of the day, making a smaller profit is better than no profit at all. Hopefully I can get in on one of these pumps in the future.
You'll have more opportunities...
This is how to know the Advantage of Liquidity. Unfortunately I have everything powered up and no liquidity to play with. I know when it started as I am always awake at midnight. Unfortunately this wouldn't last too long. I already even made a post about it
Yep, I've been caught without liquidity many times, especially during the bear market. I imagine the initiators of these P&D make up for the probable lack of curation rewards for an entire year in one or maybe at most two of these successful attempts.
Yeah I converted my liquid Hive to HBD earlier too. There's always some liquid Hive and HBD sitting in my account to convert either way when there are significant movements. But in the bigger scheme of things, most of my Hive is staked so these speculative trades are more for fun.
For sure, I'm getting close to 40k HP, if I'm not over it already. And I played with a few hundred HIVE. So, I guess I have the same approach...
I love taking advantage of these too, but there are times I just don't have anything liquid. I don't mind these pumps at all, they are a great way to make some profits!
Yeah, having some liquid HIVE was part of my bull market plan. And will continue to be.
It looks like it happens quite a bit. It sucks to see but a pump in price doesn't sound too bad.
It sucks because Upbit is a closed exchange and because there is an enormous amount of liquid HIVE there, but otherwise I suppose if they happen, we might as well take advantage when we can, and not only look at them how they make profits using our coins. And more importantly, it's better not to feed the pump, because then they use fewer funds and make more profits, and those who buy during the pumps will likely be disappointed because there are slight chances they buy at the beginning of the pumps.
You're right. In times like this, better to have a liquid HIVE to take advantage of the pump.
Luckily we are in a bull market, and I have/had some. 😀
Congrats on that my friend. Enjoy your gain.
Not a gain... yet. 😀
Oh, my mistake. I thought you already sold some amount of HIVE.
I did, but haven't bought it back yet. At this price, I would already be in profit if I bought it back.
Ah, there is, of course, the profit between the purchase price and the sell price, since I purchased quite a few HIVE at lower averages recently.
Yeah, that's what I was referring to. In my case, I powered up all the HIVE I bought recently.
Awesome man as long as profits is made I think you're good🥰🥰 hope everything rises for you 👌
Well, time will tell. Thanks for dropping by.
It was a pleasure dropping by man
No one wants to know where the pump is coming from. They just want to it to pump😅😅
I’m surely going to take advantage of this
It is important where the pump is coming from or why it happens... Because if you know past patterns, you can predict future ones.
It is interesting how you monitor this.
Well, I have hivedex.io open at all times, but I only get to that tab every once in a while. And if HIVE pumps unexpectedly (usually when the general market is sideways or slightly in the red) and I notice it, I do check the volume on Upbit, because there is a history of pumping the price via that exchange even from the time of the legacy chain.
Yes, I know of such history. So do Koreans buy using KRW? And can we see that on Upbit?
Well, the HIVE/KRW pair is the most active for HIVE from the ones tracked by CMC. We don't need to see that on Upbit. Of course, there can be wash trading, to increase the volume, but they certainly have a lot of HIVE on Upbit, so could be real trading.
I have heard of such pumps 3 to 5x in my over two years on Hive. Time will come I can take advantage of it.
There was a time when they were very frequent. Not as frequent anymore, but maybe they prefer to do them only in the bull market, and they are just warming up during this cycle (it wasn't the first one this cycle, of course).
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