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Market is red enough for making new investments and this time I'm trying my luck on Hive

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Bala
@bala41288
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3 min read

Buying the dip has always been profitable for a trader and investor. Even if things go sideways, there is always an option available to hold the tokens long term. That is one of the best thing that can happen in the crypto world. I have been a bit successful in trading during the red market. I have done it a couple of times in the past and it worked out very well.

I usually hold some liquid USDT in hand and wait for a market dip to happen. Last time when the market dip happened I purchased DOT and sold them for a 5$ profit. That worked very well. This time it looks like some of the alt coins are very strong and not giving us any opportunity to purchase and do a quick trade. But I still see this as a small opportunity to purchase a few coins and books some profit.

I purchased Hive in this dip

I was confident about Hive and I wanted to give it a try this time. In the last few dips I noticed that Hive did really well and many people booked some profit. I wanted to give it a try this time. I purchased Hive at 49 cents and have been holding it for the past few days. Looks like the dip is going to be there for some more time and who knows this can also be a bad time for Bitcoin as well bringing the price of Bitcoin very low. There are still many investors finding this as a good opportunity to get into Bitcoin.

I have a short term target price as 55 cents or 60 cents for Hive. If the price of Hive touches 55 cents I will start preparing myself to sell and book some profit or wait for a few more hours for the price to hit 60 cents and book profit. Last time there was a sudden pump and the price of Hive touched 70 cents. I was able to sell only a few Hive and book profit. This time I'm waiting with a decent Hive holdings in hand to book the profit if Hive price pumps. I personally think that there is no harm in booking profits now and them being a long term holder of Hive.

Even if the market goes down and the price of Hive goes further down I would be happy to Hold Hive for long term. I will wait for the price to recover. Otherwise, I would just bring it to my Hive wallet and power it up to hold it for long term. Holding Hive for long term will definitely be profitable. That's what I have seen in the last one year.

I personally think that Hive has already set it's new base and the price is not going below 45 cents even if the market is red. This is a good sign and that is one of the biggest reasons why I wanted to trade on Hive this time. It is just my perspective and you can do your own research if you are planning to follow the same strategy. For me most of the alt coins are overpriced right now and it is a bit risky to enter into some of the alt coins. That is why I wanted to enter into Hive and try my luck because I trust Hive for long term.

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