BTC ATH party?

So it has only been 19 days since the last, but here we are again - another Bitcoin All Time High. I don't even have much Bitcoin to speak of, but all time highs are always nice to witness "live" and the idea behind them is great, as all holders are in profit. Though, if buying on the hype a few weeks ago, not in profit by much.

For me as a small Bitcoin holder, I don't gain too much, though I am not complaining about the 37% I am getting on CUB for my BTC/BNB pairing of late. Quite incredible to think that when that went in there, it was worth about a quarter of what it is today. However, what this means for the industry as a whole is more attention and what I always hope for, more investors looking wider and into the alts - hopefully those that have actual usecase and working products... you know... like HIVE.

We still have three weeks left in November and that gives it plenty of time for a massive push toward the magical 100K threshold, at which point I am "expecting" some large profit taking on the unit bias. However, since everyone is expecting that, I am kind of hoping it does the unexpected and the bulls sponge that dump up fast and make a very hard push for the 120 mark. I think that would be a nice place for profit taking for many, a little bit of a settling plateau for people to catch their breath and then, up and away again.

I am not predicting price. The reason is, I have no idea, but I like to pretend that I have a little prophetic sense. Though, when I bought the Splinterlands VOUCHERs the other day, it seems that I timed it well enough and caused a bit of a spike in price. When I bought I took everything up to about 21 HIVE in price and it hasn't come down again by the looks. Everyone selling ito the market must be a little happier.

If I wanted to get the same amount now, the top price I would have to pay is a smidge under 30 HIVE. So, 30% less sounds like I got them on sale! :D I know have a nice round number of 1300, after buying 6 more packs today with my own vouchers, which got me one more Promo card. I think that is well worth it. I will get another 25 or so vouchers in the first 1M emission, but I am thinking I might sell those into the market if it stays up and if it crashes, I will buy them back again. However, the last week of this presale is going to get pretty crazy with FOMO I beleive, especially on the back of a BTC ATH.

This is why these BTC high events are important, because there are plenty of holders out there looking to secure some of their gains, with many who want "secure" to still be in crypto. Splinterlands is good for that, especially since it is expected to still be moving rapidly up and due to use case, have some bear protection in-built. So, perhaps a little Bitcoin will find its way into the Hive ecosystem in the coming days or weeks.

This swapping of tokens is good for the industry and the distribution in general, as while the larger holders take profits, they are selling to many smaller holders who are looking to take a position in the future. As those large profit takers start spreading their wealth, they are reward the (relatively) smaller early adopters that have supported micro projects in comparison to the BTC behemoth.

The more this happens and the less that goes to fiat, the more lucrative staying in crypto becomes and as such, the more spread of development and wealth will take place, attracting more into the industry and increasing the amount of support and giving a higher incentive to develop and innovate further. In short order (in the grand scheme), there could suddenly be a billion or two active people generating some level of wealth on blockchains and this makes them an economic force, attracting more business to cater for them in an attempt to capture that value as business profits.

The industry is rapidly advancing and while the media outlets are still in the FUD and FOMO new cycle, more people are getting in and discovering that it is far less scary than they thought it was going to be and wondering, why they didn't join the party earlier.

The party is just warming up.

Taraz [ Gen1: Hive ]