I'm bullish on Hive. After seeing BTC pump, I'm excited that the same would happen to altcoins as well. In the past few pumps, I noticed that the BTC pump is usually followed by altcoin pumps as well. It is not easy to do trading on BTC and it is also risky. But there are a few altcoins that are good for swing trades. Recently Hive came down from its base value of 1$. I'm saying 1 dollar was a base price for Hive because it stood strong there for a very long time. The price showed so much resistance at 1 dollar.
Today I decided to convert some HBD I had with me to Hive after seeing the BTC pump. Last week I already bought some Hive at 90 cents and watched it go below 85 cents. I did not buy more but now that the price is slowly recovering and the market is also looking pretty good, I wanted to purchase some more Hive for 90 cents. I'm going to be selling them both when the price hits over 1 dollar. I'm sure there will be lots of people out there doing such swing trades. Just that they don't share what they are doing but I don't mind sharing what I'm doing.
Swing trades are risky because sometimes after we purchase, the price might go down further and would never recover or might even take years to recover. In my case, I don't mind keeping the funds as Hive power itself for the long term. That's usually my intention whenever I purchase Hive from the market to do swing trades. I wouldn't recommend this swing trade for people who don't want to hold their Hive long-term.
Having it as Hive power gives an APR of 10% which is pretty decent I would say. In the worst case, if things go sideways, I would be willing to power up the Hive and enjoy the curation rewards I get from that. I have done the same several times in the past. Not all trades had been successful for me. I have had instances where I end up with loss but I don't book my loss instead wait for another opportunity for later.
Hive is not the only altcoin that is available for swing trades. I noticed that there were a few more coins that gives similar opportunities. DOT, ADA, RUNE, etc are also good investment opportunities and sometimes they also show good price fluctuation for swing trades. I usually stick to Hive because I know the coin very well and I can also predict the trend above all that, I don't mind staying invested for a long term here.
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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