I don't quite follow your reasoning on several points but you might know better ... For example: high HBD APR (thus high demand) is quite likely to depress the price of Hive because those most likely to want HBD are people with Hive, rather than people with Poly or other coins. So there's likely to be "Hive dumping" in exchange for HBD. Also, when there are flash crashes a "normal investor" (one that trades by hand) is best advised to stay put and not try to trade the momentum. "Sit on your hands" is what wise investors do most of the time since the time of Warren Buffett. Prices tend to revert to the mean and you can't be faster than the trading algorithms ...
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Sorry? What are they going to be dumping Hive for? HBD?
So the Hive/BTC pair will somehow lose value?
The Hive/USDT pair will somehow lose value?
Even though there are no valid HBD/BTC or HBD/USDT pairs to choose from?
The only way to get a significant amount of HBD is to DESTROY hive and convert to HBD.
We already say how the price goes up when these conversions were implemented in the first place.
Hive has already gone 10x since that time.
There is a HBD / BTC pair on Bittrex. Also there's the internal market where one can sell Hive in order to acquire HBD. But I sure wish you're right