Sirwin
Sirwin

My thoughts on the Hive price

By Bala | Bala | 8 Feb 2023


I keep hearing from many people that Hive is going to have a massive pump soon. After having a massive pump a few days back I have also been getting the same feeling. The good thing is that the price of Hive is very strong around 45 cents in the last few days. I usually do some swing trades and now it makes me feel that it is not the right time to do swing trades. I don't know how many people got the chance to sell Hive during the pump a few days back but I did sell it at around 55 cents and bought them back at 45 cents.

To be on the safer side I again placed a sell order at 60 cents in order to not miss the next pump. I personally think that the price of Hive is going to go up in the coming weeks if the market stays like this. A flat market is not good and it is also hard to predict because the price can go in both directions. But if we look at the graph in a month or so, I'm able to see that the price of Hive is gradually improving and giving us hope. Something makes me feel that Hive will not see 30 cents again at least for a few months unless there is a dip in the crypto market in general.

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The price of Bitcoin also plays a major role in setting the price of other altcoins. In that case, I see that BTC is also holding strong and waiting for the next opportunity to raise and when that happens, I would say that the altcoins will also follow and it can be a great time for Hive too to have a jolly ride. 20% APR on HBD is also a contributing factor to increasing the Hive price. Many people have been accumulating more HBD to grab the nice 20% APR. The HBD stabilizer also struggled recently when there was a need to stabilize the HBD price when it started pumping.

I don't know if the price of HBD can be a lot more stable if we have more places for trading HBD than depending on the internal market. But the good thing is when HBD pumps, we can make sure that it is safe to buy Hive low because the stabilizer would take care of bringing the peg value back. It is also said that HBD reserves are draining out because more people want to hold their HBD in savings and the circulation is reducing. I believe that is a good thing because it can boost the price of Hive based on more demand.

One of the biggest advantages we have on Hive is that people cannot do a rapid dump in the market when there is a dump. People can only gradually power down and dump in the market which is also a good thing but there are still lots of people who would like to cash out when the Hive price improves. I personally would be interested to sell some Hive when the price is around 1 dollar. I remember buying some Hive when the price was at 90 cents and would be happy to sell some Hive when the price goes back to 1 dollar again. If not 1 dollar I'm sure the price of Hive would soon settle at more than 60 cents and reach up to 80 cents gradually.


If you like what I'm doing on Hive, you can vote me as a witness with the links below.

Vote @balaz as a Hive Witness

 

Vote @kanibot as a Hive Engine Witness

 


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Bala
Bala

Developer | Writer | Blogger | Gamer | Blockchain Enthusiast


Bala
Bala

This is my general blog. I share different articles I write every single day.

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