BTC
BTC is back at 62k after testing the 59k levels. For me, I think this is the retracement or consolidation you'll mostly when the market is mostly dumping. The opposite of it is what we mostly get with bullrun: pump, pump, pump, dump and pump again.*
I think it's just the market taking a breather before it tests that 50k range again, and since it's more of a marathon and not a race, the market may just manage to stay in the 60k levels before the end of July, or perhaps we might begin dumping aggressively.
I think it's all the same, the end goal is to dump to around that 48k levels where price automatically bottoms out.
I think this means another 20 to 25% dump for alts, and possibly 30% worst case scenario, but whether we're dumping slowly or not, the intent is inevitable, we're going to bottom out in late Q3 I think.
Hive
So a lot of things have been happening on chain as well, this account IGORMUBA has been actively posting for Hive, its witness and everyone to fix the DHF.
He created a particular proposal in regards to that and I actually voted it. That and the return proposals are the only two proposals I vote for, also I think the last post he made yesterday got blocktrades attention, and inasmuch as I think blocktrades refuted some of his concerns about HBD and the DHF.
I still think they (blocktrades) didn't legitimately answer the biggest concerns and questions about why the DHF itself is not being fixed.
Everyone of us knows blocktrades as one of the core witness and DEV of the chain, great people and all, they've funded so many projects on the chain through the DHF, and the people that got these funds have gone on to waste the money and the chain never got any value for those proposals and all that.
I think they're not answering the questions everyone is throwing at them.
I understand the need to educate people on the core mechanism of how the chain works but honestly I feel that at this point they should be making some very lengthy posts to assure stakeholders and users that a lot of things are being cooked, that useless projects will not see the living light of day, and that maybe HBD APY% might go under 10% at least until the chain becomes better.
They should be having closed door meeting with other witnesses about how to move the chain forward, and perhaps updating people on how they intend to do that.
I'm not sure if I follow their account, but I'm sure they've not made any post in years now. As the core DEV of the chain, they're supposed to constantly ship tools that would better this chain.
I personally don't think it's okay to remain what Hive was, I still think we can maintain our identity while shipping forks that can make us financially attractive, not just as a chain or token, but as a flagship layer zero that can still attract techs, services and product of this modern era, to build on top.
I'm not arguing that this will be a bit challenging, but then they, we.... We have wasted money on useless protocols in the past, useless ideas like the rally cars and the wells in Ghana.
So many other useless proposals have bled the chain for a long time, and I don't see them admitting that they've made mistakes. It's like quietly giving up on the chain, without actually coming out to say I've given up.
So
Right now, I just think we can actually make better decisions with regards to the chain, and honestly blocktrades has been "too quiet"
regarding this. I want to believe they're pulling the strings behind closed doors and will probably announce something big.
If not I think people might begin to start rioting and asking for things to change and I believe those would even do this are those who actually loves the chain. We don't even need to do too much, just a few changes and adjustments here and there, and we can remain float till the market gets better
What a weird market cycle this has been. I'm afraid it's the new normal now that so much BTC is tied up by Wall Street ETFs and banks. I suspect we'll see a massive green candle after the SpaceX IPO—so many have sold crypto to claim their stake in that. I think we'll see a lot of investors selling their SpaceX shares shortly after the post IPO dip. The state of Hive is really concerning me. I hope witnesses can get together and agree on a path forward. We don't have to grow this chain to be enormous but we need to at least find a way to bring back organic growth and grow morale of those already here.
We'll see what happens next to BTC, it depends on if someone else big sells. We may just side shuffle for a long time, or even go down. Time will tell!
Hive is suffering for sure and the DHF and been a giant waste of money. It needs to be fixed and the interest rate needs to drop. But I agree, the top witnesses just don't seem motivated to make the changes needed...
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honestly, im not looking or caring for prices anymore, it's depressing if you do lol
just accumulate and hope for better times, dhf surely needs a rework, it has been a big bleed