Happy Hive Birthday with a massive Hive pump
Today is the third birthday of Hive. A few days back I wrote an article detailing my experiences during the birth of this amazing platform. For people who moved from Steem to Hive, this Hive Birthday would mean a lot because it was an amazing experience where the community stood for itself against the hostile takeover of the former chain. We are all building on Hive and this seems to be a more decentralized place now. A few days back @theycallmedan announced a contest on the occasion of Hive's Birthday.
Usually, the 1st of every month is considered to be Hive Power-up day. In order to celebrate Hive Anniversary, the anniversary date is also celebrated as Hive Power Up day and people share their support by doing power-ups. There are also rewards for people doing power-ups today. The rewards are based on some criteria but anyone is free to do power-ups. I wanted to participate too and I powered up 2700 Hive today on this wonderful occasion. I can do more than this but I wanted to stop with 2700 because in another 10 days, there is going to be another Power up day and I wanted to keep some for later.
Today morning when I woke up the price of Hive was at 53 cents. I'm glad that I was able to see Hive pumping because every time Hive pumps, it is highly motivating. It is again said that it was Koreans who did this pump because it all happened on the Upbit exchange. I did not participate in any trading activity as such but I was very happy to see it pump. I read that some of my friends did sell Hive high and it would be good to buy it back when the price goes down again. Already at the time of writing this article, the price of Hive is around 47.5 cents and people who had sold their Hive at 53 cents can buy it back for a nice profit and think that the pump never happened. They would end up with more Hive in hand that can be sold again during the next pump. This is how swing trading works.
I did sell some Hive today at 48 cents and wanted to see if the price is dropping any further and buy it back if it goes near 42 cents again or even below that. Greed is one of the most important things that we shouldn't be having when we do such trades. Otherwise, we might end up losing more than gaining something from this opportunity. I was able to notice that most of the amounts were locked up on Hive Engine as SWAP.HIVE for me and when I checked, there was no liquidity either on the swap services. Then later I found one swap service that had some liquidity and used it to swap my SWAP.HIVE to Hive and sold it in the market. If the price goes down, I would be happy to buy it back from the market otherwise it is okay for me to book some profits.
Chasing my goals
I believe I'm still doing good in terms of my goals. I had a goal to reach 100k Hive power before the end of this year. It is almost 3 months since the start of this new year and I have only completed 20% of my goal. After this power-up, I have reached 60k Hive power in total. When I started my goal this year, my Hive power was around 50k and I have gradually increased it to 60k now which is what makes it a 20% increase.
The above is my power-up data so far. This month I already powered up 1000 Hive on the 1st and now again I powered up 2700 Hive which makes it to 3700 in this month itself. I'm glad that I'm able to do a power-up that is more than last month. I don't think I would be able to do something like that in the next 10 days but I have to somehow compensate for it in the coming months. Otherwise, I will not be able to complete the remaining 80 percent of my goal. Even if I power up 3k Hive every month, I think it can be hard to achive my goal of 100k Hive power but goals are meant to be tough. I'm also expecting to earn a decent amount of Hive from the projects I have been contributing, which should also increase my Hive Power gradually.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
Vote @balaz as a Hive Witness
Vote @kanibot as a Hive Engine Witness
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