$1 HIVE Soon...

The crypto market has started moving up for quite a while. After we hit what I call "the rock bottom" of $17,500 for BTC, it is now time to slowly grind higher.

By no means do I suggest that we're in a continuous climb heading towards the 2021 peak any time soon. I don't see BTC challenging that level this year for sure. I don't think BTC will pierce through $20,000 down to new lows either.

The post is not about BTC though, although the no.1 cryptocurrency by market cap still has a huge influence on alts as well. Some of them have proven to be quite independent in certain situations. ETH and BNB for example have managed to hold very well during the bear market.

ETH is probably in that position due to its "future merge" that promises to insanely lower fees and probably even make a currency out of ETH and not just a coin that its only use is to pay fees for buying/transferring all sorts of ERC-20 tokens(NFTs included).

Hive has been often times considered as an Ethereum killer. I personally don't feel inclined to make such a statement. HIVE, however, has proven to be a contrarian in the market. Back in 2020 when almost everything was in a sustained up grind, HIVE was lagging.

For the past few months though while almost everything was bottoming, HIVE has had quite some pumps fueled by the Koreans. I'm also tempted to say that $0.3 is what I call the rock bottom for HIVE.

It is currently holding the $0.6 level pretty well, which is 2x its bottom, after falling from a close to $1 pump peak it experienced about a week ago and my take is that we will soon see a $1 HIVE again. These Korean pumps, if you look at the chart, are somehow the fuel for an up grind for HIVE.

I don't do TA, you can see that from my posts, but whoever does that can take the chart of HIVE for analysis and see that HIVE has already exited any downwards triangle one can draw on it. The worst is over basically.

I'm not expecting to see HIVE at $3 any time soon, but my take is we will have a $1 HIVE soon. There's much happening around here. This ecosystem is expanding and that is for sure reflected in the price of the blockchain's main token.

Everybody expects a regular multi-year bear market in crypto, but what if that doesn't happen? Our expectations for the blow-off top of the past BTC bull market have not been fulfilled either, you know...

Long story short, you should expect a $1 HIVE soon, but don't get greedy, we're not on bulls territory yet. What do you think?

Thanks for your attention, Adrian

Posted Using LeoFinance ^Beta