Stability around 30 cents
Recently the crypto market started an upward movement and have shown some green signs. Hive price also recovered a little bit. As I mentioned in one of my previous articles, after I was done with selling all the Hive I had in my possession for selling the price of Hive started to show an upward movement. It is finding it hard to go above 30 cents, the good thing is that it is at least staying strong at 29 cents. I see some orders being placed at 30 cents and the market is looking strong there.
Usually with Hive, we can always expect a sudden pump. Most of the time it doesn't go slow and steady. Suddenly one fine day it would have a huge pump. This usually happens when the entire crypto market is slowly recovering or the price of Bitcoin has pumped well. Usually, altcoins follow the pump of Bitcoin. It is also a good strategy to purchase some of the selected altcoins when we see a huge increase and stability in the price of Bitcoin and if there is no movement in the price of altcoin. This means that the altcoin would start moving up sooner.
If we look at the graph in the last 7 days, we can see that the price of Hive touched 30 cents and stayed there for a while and then started going up and down. Mostly now it is around 29 cents which is very close and it Hive breaks 30 cents, I'm thinking that it should see a good sign of a short pump. But there will also be a huge selling pressure too.
Good time to buy Hive
For people who are looking at this for the long term, this is definitely a great time to purchase Hive. I believe it can take a while to go back to 1 dollar and it may not happen tomorrow. But for someone who is looking forward to purchasing Hive at 30 cents and would like to sell it at 50 cents and book a profit, this is definitely the right time, and no wonder that it is staying low right now. Indirectly it is only giving us the opportunity to purchase Hive low. I still remember the good old days when the price of Hive was around 19 cents and even as low as 11 cents. I was fortunate enough to purchase a small amount of Hive when the price was around 19 cents. Today Hive has seen several up and down cycles in the last few years.
I personally wish for stability around 30 cents for at least some time. This way if I wish to purchase some Hive in the coming months before the start of 2024, I can still do it. Many people are saying that 2024 is going to be a great year for the crypto industry because it has been a while since we had some good information about the crypto industry. Maybe this is just the calm before the storm.
HBD or Hive for new folks
Next is another interesting thing that happened today. Some of my friends wanted to invest a small value into Hive when I explained about the 20% passive APR and the 10% active earnings from curation rewards. They were welcoming whatever I said but I was not sure if I should be asking them to invest on Hive or HBD. After hearing me out, they wanted to do it on Hive instead of HBD because of the recent BUSD events. They did not want to invest in a stablecoin that would lose support soon. I did try to explain to them that HBD is not like BUSD and it would not lose support like what happened for BUSD but they wanted to invest in a coin that can act to market trends and would be a good value in the future.
Yeah, I'm happy that I was able to onboard 3 people to Hive. It was a lengthy discussion but I mostly have them. It is not a big surprise that they want to invest in Hive instead of HBD. They only had a look at the chart of Hive and wanted to give Hive a try rather than investing in HBD. They already have some experience with crypto trading and that's an interesting thing because I did not have to explain all the concepts to them. They have told me that they would explore Hive a little bit and start investing. I might help them purchase some Hive probably. But anyway I'm happy that at least someone listened to me today about Hive talks and I would be glad to hear out gain from them why they think Hive is better than HBD. This is an important perspective from an outsider because they are not convinced by the 20% APR alone that HBD is offering. It is an interesting perspective. Let's wait and see.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
Posted Using LeoFinance Alpha