HIVE is quadruple what it was at the start of the year, but still 95% below the all time high (over $8 January 2018). This could be the beginning of a LONG-anticipated bull run. If so, eye-opening price jumps may be imminent.
Fundamentals
HIVE has support in the fundamentals from many projects right now, including 3Speak, LeoFinance, and several upgrades to blockchain framework.
Not to mention, it appears the overall bull market in cryptos (aka "Alt Season") has finally been confirmed. Coins with communities, real world uses, and/or working infrastructure will ride this wave. BTC dominance has dipped to 58%, and I expect that to continue downward (even as Bitcoin has more bull moves once it breaks 60k).
I should also make note that the Fed continues to create trillions from thin air, and people are losing faith in traditional fiat currencies. Even the most statist of media companies are admitting massive inflation across the board is coming. And people are getting another round of stimulus checks any day, some of which finds its way into crptocurrencies.
Price
After scraping along 10 cents over Christmas, following a years-long slow grind down from 8.2 USD, the price of HIVE finally began to recover in 2021.
(Note: 8.2 USD in 2018 is equivalent to 8.6 USD in 2021, even using the government's understated inflation rate. So the all time high is really at least $8.60.)
Here is my post 2 weeks ago, where I wrote the price "has been met by an unprecedented volume of sudden selling, hammering the price down each time it breaks through 0.3 USD."
A week ago, the price consolidated and moved above 30 cents again. This time, there was no corresponding spike in volume - the big seller(s) didn't appear - and it continued climbing to 40 cents.
Today's chart:
Today, we're solidly into the 40s, nearing 45. It's the highest price since the brief spike right after the fork from Steem. There's really no resistance above us to speak of. I expect the price to climb as the currency grows - sometimes in sudden spurts.
Volume
The big story for volume is that there isn't any. It just dropped off (back to normal) after those two MASSIVE spikes, which prevented price progression into the thirties.
Long story short, the selling volume keeping the price down is gone, and the price is predictably moving upward. Technicals and fundamentals all finally look very positive for HIVE.
One of the juiciest setups I've seen in a little bit:
And of course, the obligatory "this is not trading/investing/girlfriend advice".
But I'm sure at least a few will join me in saying...
F I N A L L Y ! !
DRutter
Posted Using LeoFinance Beta
Consolidating about 0.4 USD today... could make another move up soon!
Those selling volume spikes were huge. Whoever that was seems to be gone.
I share your optimism. Now let's get more people on board!
Posted Using LeoFinance Beta
I see HIVE is up to 47 cents today! :O
It's really hard to argue with the price of hive being around the 40 cents level. 😀
It's interesting that steem is still ahead of hive in price. They moved closer together in the past couple of days, but today steem went up about 12% against hive, making it a good time for me to swap some steem for more hive. I'm not going to complain about the favorable swap rate, it's good for my hive account.
Also, SBD has completely lost it's peg, I swapped a few SBD for steem and got a ridiculous amount of steem for it...
Oooh, so we are finally going to see an increase in our account value, hehe.
Maybe we will be able to afford some bud for our Girls :p
Get this party started <3
Dabs please.
Interesting that the volatility went away so suddenly. Just like it came.
Hive is a growing asset. It is moving continuously.