Why I Still Remain Bullish While Hive Is Falling

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Hive price has reversed its direction up and is dropping since March 12, 2024. Since June 7, 2024, its drop has deepened further, and today Hive fell to $0.22 for the first time since June 2021. Additionally, Hive has been in the red zone for 6 weeks.


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Hive is currently trading around $0.222 and has lost approximately 12.8% in the last 24 hours.


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Hive has been in the red zone for 6 weeks and has lost approximately 38% in 6 weeks. Additionally, it has lost nearly 55% since March 12, 2024.

Selling pressure is still ongoing so I think Hive could drop below $0.22 or even below $0.2. However, these declines do not worry me, on the contrary, such declines create an opportunity for me to buy more Hive. I'm still very optimistic on Hive, so even if Hive continues to fall, I remain bullish.

myhive17062024.png
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When I checked my Hive wallet today, I saw that I have exceeded 19K Hive Power and my goal will be to exceed 20K Hive Power in June. Today I bought some more Hive from the market and I have 130 Hive in my wallet that I haven't staked yet, and I will continue to buy more while the prices are this cheap.

Thank you for reading
@rtonline

This is not investment advice, I am just talking about current developments and only my personal opinions. As with all money markets, anything can happen in the crypto market at any time, so please do your own research before investing.

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(Edited)

I wish it was even more easier to buy hive from this part of the world.

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Where do u live?

U can’t use Simple Swap there?

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Nigeria.
It's gets difficult by the day to make crypto transactions, no thanks to the Govt.

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I hear ya. Are u able to buy and it just takes a while and is annoying? Or is it almost impossible?

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All of this, plus its seem to be quite risky ..

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Yes, I know it is not easy to buy Hive in some places, I hope it will be easier in the future.

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Bullish on price? Hell no. Bullish on long term function yes indeed. But we have to admit while a majority of crypto is in the standard bull market Hive is in a bear market breaking its resistance (.25) like nothing. we are now much lower than when bitcoin bottomed at 15K after FTX crash. There is nothing bullish on hive price incoming.

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I agree, there does not seem to be any development that will trigger the bullish and there may be a further decline in the short term, but I believe it will regain its losses in the long term.

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I do also 👍. But I think people claiming we can still make an all time high this cycle are crazy. I don’t see $1.00 anytime soon. I’ll be happy if we are around .33 cents in one year. One thing we just keep in mind is powered up hive uses regularly eeejs over 10% interest in rewards so we must count and remember that. But I fear .21 has no chance of being bottom. I think teens incoming and .33 cents will be like a dream in early 2025

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Rekt city for Hive and much of the market today, Hive being one of the worst performers in this entire bull market. It must be breaking the hearts of the newbies. I was lamenting weeks ago already. Now I'm numb to price.

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There have been similar declines in the past, but I can imagine how disappointing it must be for those who experience this for the first time. :(

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I've been here since 2017 over 6 years. It's just triggering my PTSD from previous cycles. Other assets are doing better. It's Hive that sucks right now more than most.

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