Good day Hiveians!
Join me in analyzing the crypto markets!
Yesterday we had a look at BTC/USD(T) which already anticipated the decline we are seeing in the markets today. This downward trend will, however, also translate to other cryptos as well - especialy Hive. Disproportionally so, Hive has declined today by a strong 12% while BTC only declined by about 3%. Unfortunately this will translate to even higher losses if BTC dips more (but will equally translate into higher gains too!).
Hive has been in a decline ever since it reached 1$. As I pointed out in the last post covering Hive, Hive moves in a specific fractal which hints at future price movements. You can see it here again circles in red (see last post for more details).
This fractal suggests a price movement to the 12-14 cent level. In this I higjhlighted two scenarios. They are mainly separated by their degrees of lows. The first scenario is more "bullish" in that it shows a low of 14 cents.
The other scenatrio (and I think more likely one) is the second one which suggests a price low of about 12 cents.
I strongly believe that price won't go lower than this. And I suspect that prices wil rebound strongly after this low (as the fractal would indicate). However, this will only happen once BTC changes back to a positive phase.
All of these levels are great buying opportunities!
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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I hope you are right friend :)
Hope BTC does not go deeper, it would be a disaster for HIVE
A dip to the 12-14 cent level would be nothing but a fantastic buying opportunity.
Posted Using LeoFinance
I don't think it will go lower than that (unless BTC goes sub 7k, which won't happen(I hope ;))
I think price of Hive hovering above $0.10 makes sense long term. "Rewards for creators" doesn't even have merit anymore. It's actually "rewards for blind voters" so the value of the token seems more like a tipping utility token.
Of course SMT and overall development of a greater toolset to build on would change that since a growing market would set higher and higher Hive prices as projects and communities find homes here and need to fuel those networks.
Marketing, branding could then be worth the effort. As is, there's no brand focus so no real product to market.
Slow it bee, this Hive!