Do you think the hive will follow or it will have a different route? By the way, if it's a bear market it means going up?
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Do you think the hive will follow or it will have a different route? By the way, if it's a bear market it means going up?
It depends on how long and exaggerated this BTC bear market will be. For instance if we close under 30k on the daily, and continue to go down, it would add another 6 months to the bear market, minimum!! In that scenario a lot of alts would probably be drug down, including HIVE.
Oddly enough, analyzing the price of HIVE today, it appears to have just broken out of the downtrend, this could be the start of a brand new HIVE bull market - WOW!!. That's a really good sign for HIVE, as long as we stay above this red line we should go to the moon. Luckily HIVE has some good things going on for it later this year, so maybe is forging it's own path despite the bear market. Maybe this means it's HIVE alt season? hmmm. There's another coin named SHIBA that seems to be doing this same thing, it has so many catalysts that it's bucking the trend.
Another saying in crypto is buy the bear market fear, and sell the bull frenzy, that's how I've done it in the past, so at some point that saying will ring true again. I think the best thing for us Powered Up in HIVE is to HODL that, sell a little bit of earnings if we do cross back down under the red line, so if it drops back down to the lows again you can use the proceeds to take advantage and stock back up. I don't plan to sell anything I have powered up at all, bear market and all. Good question, I wish I knew how will HIVE will react to Bitcoin's big move in the coming month. Thanks!