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Crypto Black Friday | Hive at All-Time High

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Ndy Tommy
@tomlee
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It's black Friday over in Nigeria where marketers tend to give huge discounts on their products. It's always a day many await and plan for because with a lower amount, you can get something you could not afford beforehand.

Unexpectedly, similar scenario occurred in the crypto market today. Although, chart and market analysis showed a possible correction but it appears to be coming so soon.

So, in the early hours of today, there happened to be a quick market dump that saw many traders being liquidated from their positions. Most especially, futures traders that longed the BTC/USDT pair and other major alt coins.

Bitcoin fell all the way down to $53,511 before it recovered a bit to the $54,300 range. On the other hand, Ethereum also fell to almost $3900. Other alts then followed suit and were seen at -10% price decline and lower.

This is caused a bit of an uproar and fear in the market. Many are saying the bear season is getting near. Some say, Bitcoin is looking at filling a liquidity tap at around $52700 before rallying up to $70,000.

Amidst all these speculations, I think every market crash is another opportunity to fill your bags and accumulate more. Bitcoin still looks bullish if you zoom out and stop viewing at in the short-term time-frames.

Interestingly, El Salvador president just bought an additional 100 BTC according to a tweet he shared today. In another news, Singapore have approved a Bitcoin fund that allows for the buying and holding Bitcoin.

Hive at All-time High

Christmas came quite for our dear Hive as the token rallied up to $3.4 before it re-traced. It appears as though history wants to repeat itself. 4 years ago during this same period of time, Steem turn Hive pumped to $8 but plummeted afterwards. Currently, Hive is at $2.9 and it's still looking bullish.

Posted Using LeoFinance Beta