Now might finally be the right time to buy HIVE

1 month ago
(edited)
4 Min Read
722 Words

The Bitcoin bull market is well-underway, and many other cryptos are showing signs of life. HIVE is losing ground against the rest of the market, as it has since it began (and as STEEM has done since it began). Could NOW finally be HIVE's moment? Or, as has been the case all along, should it be sold for currencies that aren't constantly bleeding value?

With HIVE making new all-time lows against BTC (and the other cryptos) every week, and every month, one of the most reliable trades going could be selling HIVE for BTC. When the consensus is "it can't fall forever", it does anyway.

We still have viral campaigns of people encouraging each other to buy and power up as much HIVE as possible, giving each other rewards and pats on the back for doing so. "You're helping to power the blockchain as you build your financial future," is the neverending mantra.

But if the price does nothing (literally nothing) but fall, nonstop, forever, then WHEN is the right moment to buy? Unless you see some sort of turnaround coming, and a sustained bull market leading to higher valuations, is there ever a point in a perpetually-falling market that you should buy?

When I bought in, 3 years ago, I put 0.20 BTC (my crypt-life-savings) into several hundred STEEM. I believed that even if STEEM didn't rise in price (which seemed impossible as most people said it was going back to $8 and beyond), I could power up my holdings and use that to generate connections and income. I also believed in this blockchain/community, and felt my funds were better placed in a currency where they could be used for something (powered up), rather than my Bitcoin just sitting in a dusty wallet. I was putting my money where my mouth was. I was congratulated and welcomed to the club.

Results?

3 years later... after posting, commenting, and curating every day, putting full effort in to my content-creation, including part-time work/contribution from my wife and some of her model friends, my grand total is 10,000 HIVE. When I convert that back to BTC at current price (to do something else with it), I get 0.03 BTC. So my 0.20 BTC became 0.03 BTC, thanks to holding it on this blockchain, powered up. It took me 3 years of full-time effort and contribution, in order to LOSE most of my capital. I could have kept the 0.2 BTC AND three years of my life, but instead, I got involved here. And every month that goes by, the price falls yet again.

My experience shows that simply powering up a bunch of funds and then pumping out quality content - every day for years on end - isn't enough to bring success on STEEM/HIVE. (In fact, doing that is a recipe for losing 85% of your worth!) The main issue? The currency itself has not ONCE gained significant ground against Bitcoin or the other cryptos. Not once in 5 years. It has been a nonstop downward slide, and at this very moment we sit at the all-time lowest valuation for HIVE against Bitcoin.

It has never been cheaper to buy HIVE than right now.

Keep in mind, though, that the same statement has been true for years now. I have dozens of posts over the years, titled a variation of that sentence. Every year, it's cheaper to buy HIVE than the year before, no exceptions. Going into year 5, if you're thinking about buying, earning, or holding HIVE, the situation becomes...

And this is no ordinary knife!

  • Everybody who has tried to catch it to this point has been sliced in half.
  • This knife has done nothing but fall for the past 5 years.
  • Despite what many people assume, there is NO guarantee that it can ever be caught (ie: there is no floor, and it can devalue literally FOREVER, just as it has for 5 years straight.)

Yes, now might be the time to buy, earn, or hold HIVE... but anyone who did so before today was premature, and would have been better off in literally anything else, including the dollar.

I'm just saying.

DRutter

PS: I wrote this article on LeoFinance. Have you seen the LEO price today? Parabolic!