We are in a bear market and I expect that this will stay here for a long. This is not the first time when we are going through a bear market but this time things are different. Usually, the Bull run stays shorter than the bear market. This time the Bull market was also long and it continue for almost a year so we can expect a similar pattern with the bear market as well. While things are different this time which means that there are a lot of people who are holding the coins and we are not able to see who dumped in the price please many coins. Even the Bitcoin price same to be stable at the price range of 20000 US dollars. The all-time high price for Bitcoin was almost 70000 and now it is raining between 19 to 20000 USD. If we compare the price drop then about 70% value has dropped and the main drop for because anything can happen in the market. But the different thing is that it is least expected because the support is strong with Bitcoin here.
We can expect this kind of sentiment with Bitcoin but now here I am also talking about the hive and this is also doing great in the bear market. It has been moving between the price range of 50 cents to $1 this year after the big dump in the price. Most of the coins are down by 72-80 % but things are not the same with the hive. We have also seen the pump and dump a couple of times this year but despite this coin is able to maintain its support level.
Hive is Stronger 馃挭
Below is the chart where we can see the HIVE price movement and there is no big fluctuation after July month. It's been almost 3 months and the price has been strong with slide fluctuation. Even after the pump, it was back to its support level and now also it is standing between 46 cents to 49 with the same to be strong resistance level. It seems like the high coin is also following the trend like Bitcoin has and it is a big thing I believe.
I think the credit goes to the community that believes in the ecosystem and they are holding it strong. It is because the majority of people over here accumulate more coins for the long term because they are able to earn curation rewards. What I can say is that instead of selling the high coin we can earn much more by holding because it is not like a traditional crypto coin. Inflation is considered in the token economy as well as we have the possibility to earn about 8 to 10% annually as a curation reward. I don't see any reason why people should be selling the token to book the profit because holding easy boarding and is why the majority of people are doing the same. Obviously, we cannot ignore HBD which is a decentralized stablecoin. This is a stablecoin and it has also maintained its level to the range of $1 and it is really very good because I expect it will get even more value in the coming months.
Hive is different
Things are different here in the hive because people are working with the belief of long term and that is something that makes these platforms different from others. Many projects are coming up including gaming and video streaming so we can expect more growth in the next 2 years. When the coin is doing good in the bear market then obviously we can expect what it is going to be when the market will recover. I am not saying that the price will be $10 but for sure I can see that we will see tremendous growth in price once the market is in a better position.
Keep your holding tight and continue to all the duration reward and even if you are not curating manually then you also have the option to delegate and delegation the reward. This is a good source of passive income which I don't think is available where in such a way that there is no risk of losing requirements. It is because our holding is locked for 13 weeks and doing the power down is not going to everything in one go. Maybe a lot of people talk against this model but I think this is a good way where can see more safety coming in through the 13 weeks of power down period.
Thank you