I've noticed many times that HIVE and BTC are at odds with one another, and occasionally it surprises me when I notice how much the price of HIVE is falling while the price of BTC is staying the same. While altcoins have experienced drops recently as BTC has fallen from $18,000 to $16,700, HIVE has experienced a greater drop than the other altcoins.
While other altcoins only saw price drops of 4 to 5%, I have noticed a drop of more than 9%. Additionally, when BTC starts to decline at times, HIVE often begins to pump vigorously. When BTC was rapidly declining a few months ago, there were a few very large pumps. I still recall how hard HIVE pumped Bitcoin when its price was falling from $28K to $22K, pushing it to $0.70.
My research and analysis led me to the conclusion that HIVE investors are more concerned about the BTC price and more fearful of it. They experience greater exhaustion as BTC prices continue to decline, and there may also be some significant power downs that they are routinely selling. Despite HIVE having a solid foundation, fewer people are still believing, which is very alarming.
Perhaps some people are concerned about the stability of HBD because many coins will disappear if the price of BTC keeps falling below $10,000. However, I can see that this coin is becoming more popular and the blogging mechanism is powerful enough to draw a sizable audience despite the fact that these people have a complete misunderstanding that HIVE may collapse.
HIVE recently experienced a drop from $0.36 to $0.27, a decrease of more than 15%. There are a number of causes for this, but the proximity to Christmas Day is one of the primary ones. People and other HIVE users will withdraw some of their funds to cover their holiday expenses. This applies to more than just the HIVE coin; it is also the cause of the decline in BTC prices. Up until Christmas, there might be a few more dips.
But as the new year gets underway, we will soon see some pumps that will once more bring the price of the HIVE into balance. Recently, HIVE has responded to Bitcoin more, and during a bull run, it has moved more quickly than other altcoins. People and other HIVE users start investing in HIVE after seeing some good percentage moves in BTC, which causes the coin to spike and a lot of people to start making money.
This is what I have seen regarding HIVE and BTC and their movement over the past few months. I hope you all find this post interesting and helpful. Reblogging the post will help me spread it to more people, who will then be able to benefit the most from it if you find it to be informative. Don't forget to upvote as well, as this will benefit my finances and account growth.
Thank You!
Best Wishes.
