What Is Your Hive Price Target?

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avatar of @muratkbesiroglu
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3 months ago - 3 minutes read

The probability of the bear market coming to an end is increasing. Bitcoin and Ethereum have been hovering above their 200-day averages for two months. Moreover, they tested their 200-day simple average last Saturday and recorded a rapid rise. In Bitcoin, the last shelter of the bears, the resistance of 25k, was overcome, but the price could not stay above this level.

The interest rate decision to be taken by the FED on March 21 will be decisive for the continuation of the rally. While there was almost an agreement on a 50 basis point increase in the market last week, different opinions are now being put forward. After three bankruptcies in the USA, no one is talking about 50 basis points. A twenty-five basis points rate hike is the highest probability. On the other hand, Goldman Sachs analysts stated there might not be an interest rate hike, while Nomura analysts said a rate cut could be made. A 25 basis point rate hike accompanied by dovish rhetoric about the future: it is easy to predict that the primary trend will change with a dovish FED rhetoric.

In this context, we come to the subject of how much the price of the Hive can rise in 2023 and 2024. Do you have a price target in mind for the Hive? At what price would you consider selling the Hive? My targets for the next bull market are 5x and 10x. In the bear market, I expanded my Hive portfolio with new purchases. My average cost per Hive is 38 cents. If the prices increase five times compared to my average cost, the Hive price would be 1.90 USD. In that case, I would sell half of my Hive portfolio. If the price reaches 3.80, I will sell half of my remaining Hive. I set the target price levels slightly behind the whole numbers. Because if the price comes to a particular number, it can create selling pressure. The $1 and $2 levels acted as resistance in the previous bull season.

It seems not possible to reach my target levels this year. On the other hand, 1.90 USD and 3.80 USD are achievable targets for 2024. So where do these numbers come from? I guess you've heard of the Bitcoin doubling curve. I created a similar forecasting model for the Hive price. Those who follow my blog may be familiar with this model. Below is the updated version of the model based on the daily Hive price data.


The model contains approximately three years of daily price data. We had a bull and bear season in these three years. In the bull season of 2021, the exponential price increase model gave much more optimistic results. The price drops during the bear market balanced the model's predicted price targets. The model predicts price levels of $1 for year-end 2023 and $1.60 for year-end 2024. If prices stay at the model's predicted levels, I won't sell any Hive until 2025. I'm in no rush. I plan to collect more over time.

During the bull season, the Leo Finance and Splinterlands ecosystems can ensure massive engagements with the Hive network. On the other hand, Ragnarok and PsyberX stand out as play-to-earn games that will support the price of Hive.

What price level can the Hive reach in the next bull market? What could be the most important developments affecting Hive's price?

Thank you in advance for your contribution.

Posted Using LeoFinance Beta