Yes, you read the title of this post correctly! This writer is not drunk. There is an actual case for Hive to surpass $5 per coin. This is beyond mere speculation or the delusion that comes from obsession with Hive. One day, in the months ahead, you'll look at Coingecko.com and see Hive trading at $5 per coin. Now, let's turn attention to why I think this can happen.
Anyone who has been on here for a while already knows that Hive was a fork of the Steem blockchain. With all the values on Steem and a strong community spirit behind Hive, one can therefore conclude that Hive is as valuable as the Steem blockchain. During the last bull market, Steem peaked at $8 while Hive had only seen a peak near $1. The latter case happened during a bear market, a price mark that Steem has not seen in over two years.
But things are changing now. We are on the verge of seeing history repeat itself before us. If anything, this bull market will be epic, beyond the imaginations of many. Just yesterday, Hive gained over a 100% increase in price. In the last two months, Hive has tripped in price giving room for more optimism regarding what is still ahead. But is this the reason I believe it will reach $5? Certainly not!
A case for an $5 dollar Hive per coin, I believe, lies in two factors, namely the Bitcoin dominance and the lagging behind of most altcoins from the last bull market. Let us now turn attention to the first factor, the Bitcoin dominance.
The Bitcoin dominance is a metric that measures the ratio of investment in Bitcoin vis-a-vis the investment in the entire crypto market. It only took about 10% drop in the Bitcoin dominance for Hive to triple in price. As Bitcoin continues to rise in price, most likely above the $100k price mark, its dominance is expected to rise and then crash suddenly below 50%, if history repeats itself. At that point, there will be nearly $1 trillion flowing into altcoins.
The above is by far a lesser sum than what was required to send altcoins to the moon in the last bull market. If history repeat itself, then a clear case can be made that Hive can 15x from this present price level to reach and, perhaps, surpass $5 per coin. This has nothing to do with a growing user base, for there are many people who hold Hive on the exchanges but do not have presence the Hive blockchain.
Then to the second point, Hive can reach and probably surpass $5 because a vast majority of the altcoins from 2017, to which Hive technically belongs, are still lagging behind. Coins like LINK, DOT, YFI, AAVE, etc have already delivered fantastic profit in the last few months. Investors will soon begin to turn more attention to altcoins that are down 90% or more from their all-time highs. BCH is already leading the charge as well as Steem. If the momentum continues, Hive is expected to follow and the road towards $5 remains very open.
In conclusion, the smart monies are already digging up good coins with a potential to deliver 20×. Hive fits perfectly into that puzzle and it will soon catch the eyes of investors. Until then, keep sleeping on your bags.
Posted Using LeoFinance Beta
$5 hive would be crazy! Hope you are on to something with this!
Posted Using LeoFinance Beta
sure, $5 will be a wild ride but we should get there later in the year or by the early part of 2022.
Posted Using LeoFinance Beta