Zooming Out Looking At HIVE
Sometimes it is good to zoom out and see the entire picture and doing this looking at HIVE things are not so terrible. HIVE is ranked at 323 by market cap and comparing HIVE to those other cryptos in the 300-400 ranking HIVE is one of the few that are in a positive percentage for the last 12 months.
For some reason HIVE has always been slow when it comes to price and tends to be a late bloomer in the crypto cycle. No one knows what each crypto will do in each cycle and all we can do is keep our heads down and grow our bags. HIVE going up in value now is a bonus that may set us ahead of the upward curve later in this cycle.
When I compare HIVE to COTI which is my main investment this cycle who have had tons of announcements and have so much development taking place COTI is still in the red by nearly 41% for the last 12 months. Not much makes sense in crypto because you would think with all the work they have done COTI should be flying and that is not the case yet.
If you were an outsider looking into crypto this week you would wonder what the problem is and that this is so easy. This does not tell the true story as this may be a good week for 90% of crypto so far most of crypto is still down by 25-80%. These types of charts do not tell the true story except that maybe sentiment has changed and we are in for a good time.
Achieving a new all time high each cycle is never guaranteed and all we can do is hope and monitor the charts. Wouldn't it be great if HIVE can continue on with the slow increases each week and actually have a decent starting point for when things start kicking off.
HIVE has not seen any of the pump and dumps we were so accustomed to seeing and we kind of need these to help boost the price and get HIVE back in the spot light. Having a higher starting point could transform HIVE helping it achieve a new ATH later this year.
All we can do is hope and this post is more about a reminder that things are actually looking rather positive and the price is looking quite good. Back on July 20th 2021 HIVE was at 29c so we are not far off that price today and I am not saying we will replicate what happened that year as we do not know, but at least we are in a similar position to do so if this does play out the same way. We know how quickly the markets can turn in either direction and this tends to be the fun time of the cycle especially if you have grown your portfolio as thousands of dollars can be added or removed daily.
Posted Using INLEO
$1 HIVE is still my base case. Maybe we even see 1.50-2.00 if things run hot. ✊🏻
$1 is good, but I do see so much more coming and do not see $2 as hot either.
This cycle/year? What is your target and what does make you that convinced?
My Hive is worth minimum 1000 Satoshis, and my sell orders are around 1.18 - 1.2 HBD per Hive. In order to sustain a $1 Hive price, users must stop selling for so little, and also it might help to save another 50 or 100 million HBD. Hive flipped HBD before, and it will happen again, the only question is when, and if users sell it down again, or support it.
That‘s exactly the reason why I don’t believe in much higher prices than a $1 HIVE: too many Users cash out as soon as we rise a bit. So they way up to $1 needs quite some speculative buying to compensate that.
Or 180,000 new users powering up 150 HP per year, to eat up the inflation supply. I am very hesitant about speculative buying, and pump and dump traders trashing our blockchain. Slow, steady growth is preferable. It's really a very niche blockchain for certain types of people-- web devs, coders, scientists, authors-- most people don't get it, and of the 70+ friends I have invited here, only a handful ever became active. That's ok though, one day someone will make a great game or dapp with Hive in the backend and boom!
Like Splinterlands, but that lost its shine. No other Killer DApp around, but that might come one day again. Hive is a great ecosystem and I would like to see more people recognise it. Onboarded a few and some became real Hivers.
One guy started writing chapters of the book he was drafting. Then one day he stopped, and published physical copies of his book. Good for him, what a great story. Fortunately Hive can be that sort of a catalyst to help people get their work published, and lead to greater things. There are so many excellent stories, we should celebrate all these types of real world accomplishments. It's not about the money, its about the proof of brain! And the friends we make along the way, increasing our reputation and spending time doing meaningful work.
Hive needs to make it into top 100 coins to be taken seriously, but then having a smaller market cap is also good as it lets us have a potential to do much bigger percentages during the pumps.
Its tough for a token with practically unlimited supply, and no real "flywheel" for burn. I am sure we would all be happier getting "less" hive, but it being substantially more valuable.
I'd actually be okay with a pump and dump right now, but slow growth is good too. We might hit $.30 by the end of the week ...
Interesting post. I am happy that Hive is positive for the last 12 months, but would be happier at a dollar. LOL
I think Hive will soon bounce back
HIVE below $1.00 is always a buy for me. Looking forward to that new ATH.
!BBH
!PIZZA
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I will just be happy with a slow, steady rise.
$PIZZA slices delivered:
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