Current market trend is confusing to do some swing trades on Hive
I'm usually someone who does most of the trading on Hive. I hardly go outside Hive for any trading activity. It has been a very long time since I did some trading in the market. The main reason is that during the last pump when the price of Hive reached above 50 cents, I bought a lot of Hive, and later the price came down, and it never went back to 50 cents again.
Now I'm stuck with Hive that I bought for over 50 cents, and now if I sell it for HBD, I would be at a 50 percent loss, which I don't want to do. This is one of the primary reasons why I'm not doing any trading right now. In addition to that, the market trend is also not very good right now. If you look at the price of Hive today, it is close to 28 cents, and it has suddenly started dropping below 25 cents. It is very hard to predict the market.
Long-term investment
I think Hive can be one of the best investments for the long term. If we plan to invest for the short term, we will notice that these ups and downs can affect us, but if we stay strong in the market for a longer period of time, comparatively, the returns are going to be very good. I have a lot of Hive staying there for the long term, but these liquid Hive are just for some quick swing trades.
People who have a long-term plan can always invest, and even if the price of Hive is going down further, continuous buying can help in compensating for the investment value. Many blockchains now provide a facility for SIP-based investments, and they also share interest with the investors once 1 month or once in 7 days. This is good because the user can make some money without keeping the Hive idle. If it is HBD, then it is even better, I think.
Automated trading
I don't know if this is a good approach for trading or not, but with the help of AI, this can be made a reality. When many people do frequent trading in the market, there will be some continuous market movement, keeping the coin healthy in the market. The movement of the coin right now is what is confusing, providing less visibility and prediction. I'm sure many people are operating some automated trading bot that is capable of keeping the market alive at least even though they are not highly profitable for them.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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All my trading is done here on HIVE as well. I too been sitting and watching. I feel as Hive is potentially on the brink of a rally but also could dip slightly further. Making trading interesting but risky.
you are down quite a lot, indeed better just wait good times to do the swap again
I agree that it's rather difficult. It could start to moon, and thus I don't want to sit on hbd or could trend downwards again...
Next weeks will be interesting!
Oh yeah I remember buying hive at .425$ when it was hyped last year somewhere around March when it it has a small pump. It was s bad decision at that time but I didn't sell it and kept holding on to it until December and it pumped way beyond that so I even got some small profits.
Long term you will be fine I think :)
It's just like that. Things have been changed a lot in the market right now so that people can't make much profit. So right now, the only way we have is to be patient for our time to come.
I think this formular goes too for any other coin that has high volatility, fo instance, solana, etherum or any coin that hows high long term gain in history
market been all over the place lately!
Keep that long tern vision friend. You can leverage those Hives at current price for rewards like powering or delegating till things cool off.
Actually for now, I will really advise people never to trade for now. They should allow the market to recover
Staying patient and consistent, especially during market fluctuations, can often lead to rewarding outcomes. Always remember it's a marathon not a sprint!