At the end of last year HIVE was trading at about 17 cents and then less than 2 months later it had shot up to a high of about 66 cents. An increase of 288% in such a short span of time is pretty remarkable, but if you've been around HIVE (and STEEM) for a while it is not entirely a new phenomenon. Due to the nature our Tokenomics (specifically, staking) big price pumps are not that uncommon.
Source
Since we hit that big high of 66 cents on January 7 this year the price of HIVE did settle down a bit, hitting a low of about 19 cents on April 7 (exactly 3 months later) and now it's started grinding slowly higher again over the last couple of weeks. From a Technical Analysis perspective that does look like a bottom may have been found, but does that mean a new pump could be due?
I started looking more closely at this after someone pointed out to me that the APR on HIVE at Binance had again just hit 50%. You can check this out in real time HERE and while it's reasonable to speculate that this is because someone is looking to Short Sell HIVE I went looking to see if I could get some history of such a whopping APR on HIVE...and yes, I found some.
I found a couple of references HERE and HERE where people were posting about big APRs on HIVE. They are dated December 29 and January 8 which was right in the midst of the most recent pumps of just a few months ago. The latter caught the peak, but the former was still before the HIVE price would then go on to double.
What does this mean? Who knows, but I think something is brewing. Maybe the play of the manipulators is to borrow a bunch of HIVE, so that they can then pump the price and dump the borrowed HIVE at a new interim high. It wouldn't surprise me at all if this is exactly how it plays out. It certainly could be a good time for HIVE holders to be vigilant...and liquid.
Thanks for the analysis brother. I make some liquid just in case.
Something could sure be brewing!
I do hope that there is a surge, but also I hope it won't be too dramatic, what counts is the years ahead.
A healthy economy on Hive is built on real proof of work, creating and curating content, as well as building apps and so on that is! 😀
I wonder when it does go up how many people sell off and bail?
A pump at 66cents will bring a lot of sell pressure tbh it's nice that it has stabilized higher than last year but it's just following btc
HIVE will rise for sure. But the question is for how long can it sustain above 50 cents.
I don't know how to do this. I need help on this seriously
@tipu curate
Upvoted 👌 (Mana: 65/75) Liquid rewards.