$0.40 USD line has been breached
At the start of 2023 we seen the HIVE Token breach and dip below the 40 cent mark. When February (2023) hit the HIVE Token passed that mark and never looked back until now. Its been a solid two months since the HIVE Token been below $0.40 USD. Will it dip further? Will it fight the resistance and go back on its upward trend (who knows; not me). However if I were to guess I think we might be seeing some further dips with temporary upward swings (Short Term). Long term I am very bullish on HIVE as the blockchain has too much to offer including but not limited to fee-less transactions, leading Play2Earn gaming companies like Splinterlands and tons of community support that come with their own set of second lawyer tokens.
***Image Sources: https://coinmarketcap.com/currencies/hive-blockchain/
Why Further Dips?
I don't believe the market has recovered from the FTX scandal. Not just financially but morally. While the FTX scandal is starting to become a distant memory, it still isn't distant enough. Those who got burned need to get their footing back and that takes time. The general public who are looking on but haven't joined the cryptocurrency universe yet have likely put off doing so for the time being. IMO (in my opinion) the main asset needed is distance/time. The more months that go by the less of a memory FTX becomes. The general public have a "what have you done for me lately" mindset. And lately the cryptocurrency universe (while recovering) still brings memories of dipping markets and billions lost. The good news is things move fast in cryptocurrency land so once the candles turn green again the general masses with the mindset I discussed earlier will all be buzzing about us again. In fact it wasn't that long ago that an acquaintance of mine out of nowhere asked me about bitcoin and how he can invest (he also inquired about the FTX scandal which inspired this post). I don't believe it to be a coincidence that he asked as Bitcoin was in recovery mode. I told him what I tell most, do proper research. Don't hand cash to someone for cryptocurrency without having your own wallet. I also suggested that if he didn't want to do research but wanted to take a shot in the dark that the time to buy is when he hears his friends complaining about losing money in a dipping market or when he hears no chatter at all.
FTX Reading Material
- FTX Says $8.9 Billion in Customer Funds Are Missing
- FTX scam explained: Everything you need to know
- FTX scandal: What is it?
- Bankruptcy of FTX
What is your prediction on what the price of the HIVE Token could be a year from now? How about two years from now or even ten years from now? Are you a long term holder or day trader (markets are currently prime for trading)? Do you have a sale point for your acquired HIVE or possibly an ape in price point? What-ever your thoughts feel free to share them below in the comment section.
Source: https://www.urbandictionary.com/define.php?term=APE%20IN
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I absolutely see further dips. The world is in recession territory and that means people will have absolutely minimal money for investments and hobbies which includes HIVE.
Further, like you mentioned, we are still seeing fallout from FTX. For example, Silvergate bank just ceased operations. For those of you not familiar, they were effectively the single biggest US friendly bank that was crypto friendly. The dominoes keep tumbling.
Spot On!
Accumulate and reposition are my plans.
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I don't know... I'm done predicting. Most around here have been screaming $20 Hive for years. I don't think that will get here any time soon, but I'd like to see a slow climb back to a buck this summer.
Either way, I'll be holding and buying more. Honestly, I kind of hope it drops more so I can buy more cheaply. I didn't get enough when it was only a quarter a few months ago.
I'm of the same line of thinking. The lower the price the easier to accumulate. Hopefully (as you mentioned) a slow climb back to and over $1.00 soon follows any potential dips.
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The market trend has been going downwards these days and it may be quite annoying.
It will still come back up. Hive is trustworthy
If we can hold the 36-37 cents would be great, there is the MA99 support.
Time will tell the tale. I would consider Holding above $0.35 a win considering today's market.
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It's a good buying opportunity. I will be holding Hive for the long term so I'm not that fazed about price fluctuations. As for predictions, I think I'll stay on the logical side which is Hive will eventually be worth much more that it's worth today.
That is by far the best prediction I have seen to date. One that is the most likely to be true as well.
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Yes, I think the probability is 60%. It could be more.
I think it will follow BTC which is accumulating for further development to $32,000.
But don't pay too much attention to me, it's just my feeling.
HIVE will likely follow BTC, most cryptocurrency does.
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Buy when blood is running in the street... most of my "value" is in cards right now. I don't pay much attention to moves. Just accumulate baby 😎
Nice, I've done much of the same with my time on the HIVE Blockchain.
Aside from my powered up HIVE, I have all my eggs in the SPL basket.
0.40 cents was a phycological barrier, now I'm expecting a price to go a bit more low, and after that we shall regain the 0.40 cent support. Nothing to worry about.
Thanks for the prediction.
Its certainly a possibility.
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Yay! 🤗
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Congrats on the 10K+ Staked.
I'm in it for the long haul too.
Dipping prices equal opportunity.
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