HIVE price as we know has been bleeding for a while. The correction after the massive pump which set our ATH has been steep (totally expected) with only one noteworthy bounce in the first week of May.
Now, it seems to be attempting to break out of its downhill run.
This is the USDT chart on Huobi and you can see we're down 76.70% from the $1 ATH while the potential for returns if and when we go back to $1 from current levels is over 300%. That's not to say that HIVE will simply pump back up there overnight.
One can only hope to trade level to level or HODL long term and forget about anything in the middle. But, I like to be pro-active so this is my expectation and I think market has found its fair value for Hive after this downwards move.
The Daily chart for HIVE/BTC Bittrex shows a large downwards run. Suffice to say HIVE has placed itself amongst the highly volatile coins that pump very fast but also tend to lose value fairly quickly.
Some might say its not a good thing generally when you compare its price action to other tokens whose charts are healthier in comparison. But some people like trading coins that offer more stability, others like faster action. You get to choose.
Whatever your style, preference and outlook, crypto space offers a good potential for speculation on price no matter what coin you select. After all anything that goes up, must come down but not every crypto that dumps, manages to go back up fully. That's the reality and that's fine.
But it's safer to speculate from one level to another and not worry too much what the price will do a few months from now.
This is my current chart and my expectation is that HIVE will try to move above 30 cents for starters with a hope that BTC movements doesn't ruin it for us here.
HIVE has shown a good bounce on lower time frames after BTC rejected again 10K so I hope to see it continuing to push higher.
While I prefer trading a stablecoin pairing. But if HIVE moves up strongly, it will lead to a better HIVE/BTC price as well, especially if BTC remains sideways or goes down during a HIVE pump.
Overall, I'm happy to see HIVE hold a better value and reputation than STEEM and I've been happy to sell my STEEM for HIVE in recent times. I'm so glad that Hive project is shaping well so far and hope to close this year with a better valuation!
No matter what you trade, remember to manage your risk properly.
Thanks to our hardworking witnesses we have Hive trading on many exchanges today.
While many love the idea of staking coins in the crypto space, people love speculating on the value more in my opinion. So it definitely helps to have Hive trading on as many popular and well known exchanges as possible.
Fundamentally, as HIVE development continues I think we are in a good position to build our bags currently for the long haul.
I don't know how many people are powering down their steem and converting it to hive, I feel though that after the initial wave of full powerdowns from steem that started on or close after the HF23 there will be the telling key to the future of Hive. Hive will either break free fully from it ties to the steem block chain and be fully standing on its own at the end of that first four week period or it will continue to be tied to steem for a long time to come.
Hive is well on its way to truly being an independent platform, and the final ties need to be broken, the sooner we can get the first Hive Fork that will end all the questions about airdrops the better for the future of Hive.
I think so far we've done quite well as a project. I would love to see Hive stabilise in top 50 by next year by market cap and popularity as well.
I think we are moving in the right direction for now. A lot can change over a year, but even though I do not like the delay of the final separation from Steem and the ending of all the airdrop jive, at least when the HF does take place, most of the people that were dissatisfied with what was happening on steem will be powered down. I did hold a little hope out for steem, and my initial power down was not a full one, but with the first Sun HF, and 4 week power down, I decided to do a full power down.
I think it's bound to increase over time especially with this bull run seeming to start. Same as STEEM did a few years ago.
Yeah, in a proper bull market everything in the top 100 is likely to pump significantly.
Great analysis.
I think we do make a short term push toward .30.
We are seeing some buying action after dropping to the .23 range.
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Thanks. 30c would be good for starters. :) Would be nice to see greater prices down the road.
Where do you get this number from? Just curious :>)
Interesting analysis.
$1 was Hive's ATH on Huobi and perhaps even Bittrex. Binance was a little lower i think around 92 cents maybe. So if the current price is 25 cents for example it will need to do atleast 4x or 400% gains to reach $1. It went from $0.0618 low to $1 which was a 16.18122977x or 1618.122% gain approx. Pretty nuts all things considered. ;)
Binance has opened steem deposits again so there should be a strong push from steem sales to hive. I know I am swopping it while steem is still holding position.
I think fundamentally, the world is going to wake up to what Hive offers and when they do, the flood gates will open and we will see users pour into Hive.
Hive just needs to solve for storing photos like facebook and instagram do and it's golden! At least, in my opinion!
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Maybe some Hive dApp will solve that in the future. :)
I think we have found support at roughly 20cents. I guess with more adoption, there will be a steady rise over time
Yeah, anything over 20 is fine for now. But 30-40c would be ideal for curators and content creators as well early on. But low prices are good for accumulating at lower rates as you also get more HP when price is low.
Thats true
Everything will depend on Bitcoin.
Everyone is waiting for a long bull run.
Hopefully, there will be one. If not,...
True that!
Hopefully as people sell their steem they’ll buy hive
Yeah. I hope so too.