Where "The Steam" For $1 HIVE Might Come From. Sooner Than You Think...

in LeoFinance2 years ago

Untitled.png

HIVE at under a dollar looks under water to me. I'm no TA master and neither do I plan on becoming one any time soon, but just look at the chart and, while you do that, compare it with the one of BTC.

While BTC at the current level of about $30,000 looks like hanging of a cliff and the "grip is close" to be loosen, HIVE is not anything like that. In "our case" we can see that the market has taken back most of its share. $0.5 is way closer to the bottom than it is to the top.

2.png

While quite a few believe BTC has bottomed, unless "a full blown recession"(cough @edicted), my take is that BTC is going to revisit "the vicinity of $20k". I don't feel like it's going to hang there($30k) for too long and resume any uptrend any time soon.

If BTC does that, falling off the cliff, alts are screwed. Yes and no... While some will fall in that position, others will not. If you've been following closely the price action for HIVE you have already noticed that Koreans are at it again.

Most of the trading volume on HIVE comes from Upbit on the HIVE/KRW pair and just in the past 24 hours we've had some real nice spikes, that imo look like "warmup pumps".

1.png
yeah, the spikes :)

What some of you haven't noticed yet is that in the last seven hours about 19,5 million STEEM have been sent to Binance while about the same amount has been transferred between "unknown wallets". BUT prior to these transfers "someone" took out of Bittrex almost 19.5 million STEEM.

The questions that arises now is: are these funds going to be dumped on Binance and are the STEEM that got to Binance the same that left Bittrex? Is Justin brewing something, or it's just some "mad whale" willing to dump the shit(STEEM) and load on the gem(HIVE).

3.png

When it comes to trading volume for STEEM, the same case applies as for HIVE, Upbit on STEEM/KRW tops it.

As mentioned in the introduction, although not taking out of the equation that HIVE might bleed even further, I feel like anything under $1 looks underwater. I know we've said the same for STEEM just four years ago and it went down to $0.10 sooner than we expected it to, but can we really compare the two of them...

Just look at Leofinance and how fast it is expanding...

Bank of France governor calls for global crypto regulation following the $LUNA and $UST collapse. Digital dollars are under threat whilst Bank of England warns that inflation could hit 10% resulting in “apocalyptic” consequences this year. Where to go, what to do and where to put your cash?

What about a digital economy? Well, we have that on Hive and I'm not saying that millions of Brits are now gonna flock to Hive as a shelter, but when shit starts to hit the fan you have to somehow clean it before it starts stinking fast. It's funny, but $1 HIVE might come sooner than you think and the powder to push it could be STEEM and "depegged cash".

The whole situation with stables under threat is what will at least temporary boost the prices of alts, which have definitely bled more than BTC did. Keep your eyes on HIVE cuz we might see it at $1 sooner than $0.10.

Thanks for attention,
Adrian

Posted Using LeoFinance Beta

Sort:  

I don't want to talk about price and but I know $Hive is valuable

Posted Using LeoFinance Beta

You've been silent lately

Posted using LeoFinance Mobile

It is because everyone is talking about price and he doesnt want to talk about that.

Posted Using LeoFinance Beta

Healthy approach.

Posted Using LeoFinance Beta

I learned talking about only prices will bring the wrong people to Hive. And I'm sure Hive needs great people who see the real potential value.

Posted Using LeoFinance Beta

Hard to know. The problem with TA for something like HIVE, the volume is so low relative to other assets.

I do think we are guaranteed of a full blown recession. How that affects crypto remains to be seen.

Posted Using LeoFinance Beta

How long do you think that recession could last?

Posted using LeoFinance Mobile

Thank you for letting us know this information.
Have a great day.

Posted Using LeoFinance Beta

Have a great day to!

I personally know a Steem whale looking to unload and they'd never dream of dumping the value into Hive.
They don't have nearly that many coins though.

Both Hive and Bitcoin are grossly oversold at this point.
Still, max pain is likely around $20k BTC and 25 cent Hive.
I assume we'll get there eventually at some point.

For sure. I doubt any would do good in a recession.

Posted using LeoFinance Mobile

So let prepare some liquid $ to buy in Hive when it's 25 cents :)

Posted Using LeoFinance Beta

I know we've said the same for STEEM just four years ago and it went down to $0.10 sooner than we expected it to, but can we really compare the two of them...

Steem at that time had very few use cases. Hive right now has plenty. And every time you blink your eyes there's more. I think it doesn't make sense to compare the two. or?

Posted Using LeoFinance Beta

Check BTC on a logarithmic chart and you may change your mind. I don't see it lingering in sub $25k territory.

Could be funny to see Justin dump his STEEM though! :D

Posted Using LeoFinance Beta

I wouldn't mind you being right on BTC, but the way I see it it is still a risk on asset and during uncertain times these are dumping first.

Posted using LeoFinance Mobile

At $0.10 I'd be tempted dump my BTC and Eth then load up the truck with Hive.

Posted Using LeoFinance Beta

Do what you feel like. We're subjective human beings.

Posted using LeoFinance Mobile

God, everything seems to be against us :(

Posted Using LeoFinance Beta

For now...

Posted using LeoFinance Mobile