Credit : CoinGeckoI still can't believe what I see right now. The price of Hive almost reached a dollar, a gain of close to 900% in just three days. Yes, you read that right, 3 days only. Where else can you see your investment increase nine times the initial value in just three days? Yeah, I know, nowhere. Hive is currently ranked number 28 on CoinGecko.
I had some liquid Hive but when it reached a price of 20 cents, I sold almost half of that and then again at $0.3 and $0.4 thinking that the price will eventually die down but it never really stopped. The price kept going up and now it is in pursuit of $1.
What Caused The Pump!
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It all started with the AMA with Huobi. People began showing interest in Hive and when Huobi listed Hive and announced a trading competition, that's when things started getting really crazy. The price of Hive kept going up and it is still showing no signs of coming down. Before Hive was listed on Huobi, the volume was barely over $100 thousand but after Huobi listing, the volume is now over hundreds of millions of dollars. Hive is ranked number 9 in terms of volume with a volume of over $123 million on cryptowatch. Cryptowatch is a platform just like coinmarketcap and coinGecko with a difference in that it ranks cryptocurrencies in terms of volume.
The Hive trading competition is still on and there is $100000 worth of Hive up for grabs. A minimum trade of 500 Hive coins is eligible for the airdrop. The traders on Huobi have taken this competition pretty seriously and they are the sole reason we are seeing such amazing prices. The competition lasts till the 28th of April and I won't be surprised if the price breaches a mark of $1.2. This price is totally achievable given the insane 900% increase in price in just three days.
How Big Will Be The Dump
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I don't want to be a party spoiler, I would rather be the one putting the icing on the cake but the physics says that "what goes up must come down". All I am saying is that you should prepare your minds for a big dump. After the trading competition is over, the traders will start shilling their bags in the market which will result in a big selling pressure prompting the drop in the price of Hive.
But the question remains, " how big will be the dump"? I can't see the future but what I can see is that a big dump is coming. Let's say that Hive is trading at $1 right now and for Hive to reach its previous price when it wasn't listed on Huobi, that would mean a 90% decrease in the price. That seems very unlikely to me at the moment. I guess a decrease of 40-50% in the price will be reasonable. Even if that happens, Hive will still be trading at 50 cents which is still a good price given the fact that we have been below 20 cents for ages. For me, the worst-case scenario is Hive trading at 40 cents after the dump.
But that's just me, I could be wrong. Anything can happen in the crypto world and all we have to do is to be prepared for both best and worst-case scenarios.
This is not financial advice. This article is just for information and entertainment purposes
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Resistance levels are building at 80c (lower) and $1.00 (higher).
The question is who is selling into a dump (not Hive community members).
Who is buying Hive with their powering down Steem (Hive community members).
Remember, there is no forced seller in Stinc anymore.
Its all about supply and demand.
Maybe Hive has finally got the attention it deserved and people are discovering how amazing and unique it is in the crypto world. The only fully decentralised DApp capable blockchain with a real active community.
Yes, there is no forced seller. But there are proposals that are getting paid from the SPS in HBD.
Yes, but:
Good points.
I hope so.
That will be the best thing to have happened to Hive ever.
We have a 50% down for this moment already.
But that pump was like WOW O_o
I hope the price recovers a bit and goes over 50 cents.
HBD also hit $2.88 and that's crazy.
I am more worried about the dump after the airdrop :/
Maybe it will stablize around 0.5$ thats my hope.
$0.5 is still a good price, I will take that with both hands.
Yes! Me2 thats why I hope for it hehe :D
Yeah, a dump is most likely incoming... but that is life. No matter what, I am really happy about the increase, and it would be great if it could manage to stay strong and really not go back to the old price. And really, just considering that so many of us received all our Hive tokens as an unplanned gift after the fork, just makes it a fantastic gift!
Binance just listed, so we might see more pump before the dump. Consecutive events like these are going to impact price - heavily.
Interesting days ahead.
I'm not sure why but i have a feeling binance was pressured into listing
Absolutely. Seeing the volume, these exchanges all want a piece of the action -so they can make more money with the fee.
So am I.
But I am ready for the dump as well. However, I hope the price stays above $0.40. Not asking much, am I?
Hope not :)
I'm as surprised as you are.
I only hope the dump isn't so hard, what i like most about the pump is that the increase in price will bring about increase in vote value.
So blogging will become a bit more profitable and overall activity on the chain will increase
Yeah, I used to get $4-5 per post but look at my posts now. It is so much fun and motivating when the prices are good.
Indeed upswing wave is big.
BTW. Have you seen that HIVE is also listed on Binance ?
Wasn't aware of the binance listing until now. I actually scheduled this post 8 hours ago.
However, Hive is trading only at 66 cents on binance.
Resteemed already. Upvote on the way :)
Hi @syedumair
Indeed current price PUMP is simply mindblowing. I've never experienced such a price move. I've managed to sell all liquid hive (which probably most people did) and I'm hoping to see solid price dump, so I could double my stake :)
Any place where I could watch that AMA?
ps. again welcome to PH community :)
Enjoy your upcoming week,
Piotr
Hey @crypto.piotr. The AMA took place through MSP-waves. Not sure if they will upload the audio :D
Unfortunately, the AMA was text only. However, you can find some of the best questions and answers here
Thanks again for the welcome.
Interesting POV
Sounds very reasonable.
I also think there will be some kind dump. But the question will be whether the price will go below the previous lows or there will be higher low. It will take some time for the market to decide.
I wanted to capitalize on this pump and sell some HIVE to buy them back later, but almost all my HIVE are powered up 😅
Same here
95% of my stake was powered up
I will start this comment with a confession: when HIVE got to a bit over 17 cents I set a limit for some liquid HIVE at 16 cents just to buy it back at 12 cents or so. The limit got eaten and I am now witnessing this insane pump with absolutely no liquidity... There will be a dump for sure and my guess is it will get to something like 30-40 cents or so. I see this price action pretty similar with what XTZ and LINK had. They got to the sky, corrected but haven't really droppet to the ground. I hope this pump is lesson learned for me and I can only imagine what the performance will be after the halving, when the general madness will commence.
I sold most of my liquid hive at 20 cents as I never thought it will rise so much.
I see that the price is moving towards stabilization. Anything over 40 cents would be great.
I traded mine for bitcoin last week which sucks
It really does :(
my guess is when the dump is over we will end up between $.20 and $.30
It's a possibility.
However, I think that the price will stay over 40 cents, maybe I am being optimistic but that's what I think.
Glad to see you after such a long time :)
yeah we all hope for .40 but i think it's gonna be .30