If a Cryptocurrency could be a Schizophrenic then Hive would have to be the obvious one first diagnosed. After years of slowly bleeding out value Hive has shown some signs of life in recent weeks, but as far as price action goes - It is all over the place. While I am a student of Technical Analysis on charts, I know that when it comes to Hive it makes no sense to even try because normal rules just don't apply. Check out the chart for the last month below :-
Source
It's basically doubled from about 20 cents to over 40, then halved...and now, as of a couple hours ago, it's pumping again. By the time I finish writing this post who knows where it'll be. It's just as likely to crash back to 20 cents, or break through to make a new cycle high above 45 cents. Roll the dice, spin the wheel...where it stops nobody knows...
This volatile price action is in the context of a little bit of volatility in Bitcoin and the other big "Blue Chip" cryptos, but it's a bit like Hive is so far on the periphery that it's being thrown around like a rag doll with every swing. It's very hard to know what to make of it all, but other than just holding on for the wild ride, what CAN we know for sure?
For me, I know that at least for this cycle, Hive is "In the mix". We are seeing some significant price action which I think is positive. It's important for Hive to be in the conversation and you have to be optimistic that the bulls will defeat the bears in a broader crypto bull market. Thus, based on the price volatility we've seen so far that means we have significant potential upside here at Hive.
As a trader and investor (and punter) I am always on the lookout for Asymmetric Risk Reward opportunities and this looks like a really good one to me. Of course, everyone needs to do their own research, but I'm happy to be HODLing Hive as we inch closer to 2025...
This place has been always weird regarding the price of the token, this pump is boosted by movement from Binance, the past pump was from koreans on Huobi. Another rare coincidence is that the past month the same happened the 24th.
What's the reason?, I'd be glad to have a reasonable explanation.
There will be spikes in HIVE and other ALTS when BTC peaks and consolidates at the top range. At that time HIVE along with other ALTS might start producing towering spikes, those spikes may be short lived, but definitely it is going to give that opportunity to HODLers, investors, etc.
Very confusing.
It's great news that Hive is pumping again, let's see how far it goes.
The person or few people dumping that amount of money into Hive must have something going on where they make profit because it makes no sense to put that much in and then lose half of the value in 24 hours.
I'm not a fan of the rollercoaster. Slow descents, slow ascents... maybe some more predictability! !DUO !BBH
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I think Hive is different in it's user base. While a large majority of Cryptos are held and traded by Cryptophiles more or less, Hive's users vary from all walks of life, from individuals that need to be active on Hive to supplement their incomes out of necessity to hardcore HODLers. With Inflation hurting everyone, more and more folks may be drawing from what they have staked than they normally do, or not do. I am fortunate to continue to accumulate and never have drawn from my capital but I cannot guarantee that I may have to down the road IF necessary.
Gambling Koreans in the weekend...This has been the case so often already before and I really don't mind. At least there is action and attention!
But indeed...everything could just as easily be retraced tomorrow again. Good for the speculatative HIVE-HBD traders though!
It would be nice to see a higher floor, waiting for the spikes and swapping some for a bit looks like a popular option, which is probably why it tanks back down.
I posted a proposal for EducDAO yesterday on https://oecd-opsi.org/blog/call-for-co-creation-bootcamp/ since, Hive is pumping :)
Hive to the moon … sell the pumps and buy the dumps… over and over and over again.
I'd be happy if it just got close to $1!
The volume of $HIVE traded over the past 24-hours seems remarkable. According to CoinGecko just now trade volume hit $793M with a current market cap of $159M.