Do you think Hive is bleeding out Satoshis at the moment?

in #gems4 months ago

Yes, we are a solid community. Yes, there are amazing things happening on our blockchain. Yes, I am here for the long run.

But, but, but.... the price of Hive keeps dropping gradually. Like a slow bleed, it doesn't stop and there is definitely not enough fresh up-take into our community.

hive v btc chart.jpg

Source: https://coinmarketcap.com/currencies/hive-blockchain/

I stopped being so Hive-centric months and months ago. I am glad I diversified out into other protocols and became multi-tribalist.

This is why:

btc dominance.jpg

Source of Bitcoin dominance: https://www.tradingview.com/symbols/CRYPTOCAP-BTC.D/

When Bitcoin dominance drops, the alts will more than likely gain in Satoshi value.This is typical of an alt-season. The past few months have been an alt-season for a lot of coins, but for Hive it has been a nothing burger. Hive as shown above in the first chart, continues to drop and the trend is your friend to the end...

Once I see a trend reversal for Hive, I will start accumulating more. Until then, I will continue to diversify into other stronger protocols. Remember I am not giving financial advice. This is what I am doing and you should not copy me.

Stay positive everyone,

@intrepidsurfer