HIVE price psychology pondering
Direct from the desk of Dane Williams.
Just my personal pondering on the HIVE price and what it is to be a human being.
Hello my friends.
How are we doing?
With the LeoFinance interface playing games with us again today, I thought I’d take the chance to step back from the SEO grind and write a fun little opinion piece on the Hive price.
Who would have thunked it that beginning 2022 with the price of HIVE sitting on top of the $1.00 USD mark would be a disappointment?
How soon we forget that HIVE was just casually trading at a low of 18c last year.
18c!!
But all our dopey human brains can think of is how disappointing the pullback from $3.00 to $1.50 is.
I do say our...
Although it may be just me.
Sorry for dumping you in the shit with me!
Human psychology toward price
It always makes me laugh when I stop and think about human psychology toward price.
Take the $1.00 USD HIVE price as an example.
When our Korean friends were pumping and dumping HIVE barely a couple of months ago, the $1.00 price was viewed as almost the holy grail.
“Keep your HIVE liquid so that you can dump into the pumps at $1.00,” they all said.
And that was the play.
If you were playing the range anywhere close to the top and bottom, then you no doubt came out ahead.
But then we got the latest little re-pricing event that saw the HIVE price rip to $3.00 and everything changed.
Now we look at the $1.00 as this amazing buying opportunity that the gods have gifted us faithful degens from above.
Have Hive’s fundamentals changed?
Nope, Hive crypto is still a good investment.
We see exactly the same thing on Bitcoin.
Cast your mind back to the previous cycle where $20K was the all time high and absolute cap.
People didn’t want a bar of it.
But just a single cycle later, people would chop off their left nut if it meant they could buy Bitcoin at $20K.
SHUT UP AND TAKE MY MON… NUT!!
Has fundamentals in the overall crypto market changed?
Nope.
The human psychology toward price gets me every time.
Join the LeoFinance psychology support group today
If you’re already a part of the Hive community, then hit me up in the comments and share your thoughts on the human psych phenomenon.
If you don’t yet have an account and want to join the community however, then LeoFinance actually offers you the ability to create a Web3 Hive account with nothing more than your Twitter login.
Head to leofinance.io, click the get started button at the top and create your Hive account.
Once you have generated your private keys, you will have complete ownership of your account and access to the community.
The LeoFinance community support group.
Helping each other navigate our pea brain minds since 2019.
Best of probabilities to you.
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Oh to have a time machine.
Can you imagine buying bitcoin when it was worth pennies? But we all were afraid to go all in.
BRB, gonna hail an alien and see if they can send me back 10 years 🛸
-triggered.
Check out this comment I made yesterday.
Still too soon!!
Posted Using LeoFinance Beta
Hive gives me a lot of joy more than I can say, yes hive dropped from the $3 mark to below $1 now, I still appreciate the Hive Blockchain and opportunities it has given us, I still expect Hive to go up to $5+ this year 😉.
If you think we're going to 5x from here, then you must be buying HIVE off the market like a madman?
5x!
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Yes I am, Hive is going to be massive.
I remember when HIVE was closer to 10 cents a few months. I think this was like a few months after I started so these current prices are definitely amazing right now. Even if we dropped from $3, I am not worried and there are plenty of other opportunities on HIVE.
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Did you buy sub-20c HIVE?
What was your thinking at the time?
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No I did not buy at that point in time. In a way, it was around the time that I was still learning about blogging and I didn't understand the potential HIVE had.
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After seeing so many coins go through the same cycle it seems that this is just a natural phenomenon. Early adopters of Hive slowly start to lose faith when the market goes up only and their coins just stand there doing nothing. It's an even greater shock seeing it go to $3 and then "back down" to less than $1 per Hive.
Conviction is hard to come by when this happens but looking at it from my perspective, it all makes sense. My conviction on Hive has never been greater and $1 per Hive is very reasonable to me but at the same time, it is alarming some OG holders that it is time to offload and abandon ship.
Our perspectives aren't the same but no one knows who is right and who is wrong. That's the beauty of the game, at least for me.
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Plenty of the top holders (and top elected witnesses...) continue to sell rather than stack.
Obviously they have costs etc, but for some it is profitable enough that if they truly believed, then they could sell a portion while still stacking a core stake.
This certainly worries/bugs me too.
But their selling also means good token distribution and opportunity for others.
How about this for a scenario...
Think about the top holders in the LeoFinance community for example.
What happens if the price of LEO, driven by volumes outside of HIVE thanks to all the connections to other chains that the team is building, moves higher than HIVE itself?
It won't take long for the larger LEO earners/holders to be able to take serious stakes back into HIVE itself and shake up the status quo.
This is a scenario I can definitely see playing out and one that I'm certainly excited for.
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I saw a few of them doing this and didn't really think much of it because these are people holding Hive for years and this is the first serious run they have seen.
Edicted will be a billionaire lol
Jokes aside, I'm expecting the same to happen. 10M vs 250M is a huuuge difference in supply. If Leo gets some serious traction things could get wild.
Keep stacking.
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I will say that's general feelings of many people and they wonder why they always get "screwed" and never learn. You don't fomo and buy in when everyone else is and expect awesome games. If anything when people start Fomoing in it's time to get the heck out!
This goes for any type of investment. For example even with SPS there was a run up on SPS at $0.70 I think we even pushed over $1 at some point. If you would have sold even 20% and say 5 SPS a day for $5 you could have bought back in any time in the last three weeks for pennies! $5 or 5 SPS would have changed into 41 SPS. That's like a 500% increase but on the backwards way which idk for some reason doesn't click with a lot of people. Those price actions can accumulate huge wealth over time. The minds a crazy thing
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As someone who is deeper into Splinterlands than me, I'm interest in what your opinion is on DEC?
I've never fully gotten into Splinterlands, but wanted some exposure to the ecosystem.
I pooled some DEC and accumulated just over 1000 SPS via the airdrop.
Happy to say that I did sell my DEC somewhere near the top, worried about the slide back toward the peg as the hype wore off - Something that we've seen play out.
However...
I did just keep my SPS instead of selling it too, and it has now slid all the way down to being worth pennies.
Do you see DEC continuing lower?
If I was to take my own advice and take a bigger stake in SPS at these prices because its a project I believe in, would I be better just buying outright and avoiding DEC price risk?
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I very much so feel like DEC and card values are going to plummet once the SPS airdrop is over. Personally I feel they over extended the selling of packs to try and get more people playing and diluted the value too much and didn't account for the duplicate account bot issue that was going on. SPS is going to most likely bump in price when the new packs get released that are like ORBs as they can only be bought with SPS. Also SPS is going to go up when land is released. There's little backing power to DEC again it's mainly focused on SPS again and I feel like they keep swapping back and forth but may have centered on providing as much value to SPS over DEC moving forward.
I agree with your analysis. I have traded BTC at around 9K mark for months. I am not sure why i did not hold any from that price range. Now, I would do everything I can if the price plunges to those levels again. Same with Hive. I cursed myself when I got into Hive at 25 cents and the price dipped to rock bottom 11 cents. Now, 1$ seems cheap.
Ah, the mind plays tricks with us, doesn't it! :)
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