HBD had a massive pump today
I was continuing with my routine of working on a project. I noticed that one of my Hive buy orders on the Hive Internal market was triggered. I was surprised to see it happen. I sold Hive when the price was around 42 cents and placed a buy order at around 38 cents. The notification was about that order getting filled out. That is when I got curious and wanted to check what was happening in the market.
There was a massive pump in the price of HBD. The price of Hive looked stable but it was only HBD pumping hard and the reaction was visible in the internal market. The price of Hive dropped to 26 cents in the internal market gradually because of the HBD pump. The HBD stabilizer that we have on Hive also did a great job to stabilize the price of HBD but still, the demand for HBD in the market was very high and the price started going up further.
The price of HBD reached about 1.55$ per HBD which is a great thing and anyone selling their HBD at that price would easily get a 55% return within a day or two because the HBD stabilizer would push the price back to 1$ again. Overall it was a fun event to watch. I was fortunate to have some liquid HBD with me and I was continuously chasing the price. My first buy order triggered at 38 cents and after that, I was continuously purchasing Hive whenever the price dropped by one cent.
The price of HBD was over 1.4 dollars for a very long time and that is when the market was going up and down. I was thinking of doing some swing trades but then I was not sure if it would be safe or not and did not bother much. I continuously placed purchase orders for Hive in the market and noticed that most of the orders started filling.
The above orders I placed in the market were immediately gone as soon as I hit the buy button. Good that I was at least able to take screenshots. For some of the buy orders, I did not even have a chance to take screenshots. It was very fast. I was thinking that I should hold some HBD with me to see if the price goes below 26 cents and purchase later. But that did not happen.
The above was my final order and it was not filled. After that, I started doing swing trades. The market started going up and down after that and the price of Hive was pretty much over 30 cents after that. I guess that was the indication to stop trying to buy or sell and be very careful with the next move. I was fortunate to do some swing trades after that. I bought some for 33 cents and sold them for 35 cents and I was continuously doing something like this out of 10 such orders 5 were successful and I realized that it was still a good opportunity because the market price of Hive was very stable and it was only HBD that was having this variation. The stabilizer was trying hard to push the price of Hive in the internal market to 39 cents and HBD price was resisting that.
As long as the price is fully stabilized, I guess it is still going to be a great opportunity for swing trades if I'm not wrong. I'm going to keep trying my luck there and see if I can make something out today. The important thing here is to not be greedy and stay calm. Otherwise, we will start making mistakes.
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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