Folks! Seriously, this is not our first rodeo. Yes, Hive token is new, but it is not that we don't know the drill. We have seen the last alt-coin rally. I remember I first bought my Steem at $6, in Jan 2018! I don't have that anymore, now all converted to Hive. But hopefully most of you remember something similar. My point is yes, after a time, which felt like ages, Hive is finally rallying. Just like there wasn't too much of a reason to complain about the lower prices, there isn't too much to celebrate about 'slightly' higher prices either. We need to look forward to much higher prices! MUCH!
With that said, I am off my soapbox. After ages, there is something to talk about regarding the price of Hive. We all have been patiently (some rather less patiently) waiting for the bottom to form, and it has. It is now more relevant against USDT simply because, now, a stable-coin pair is more widely available on popular exchanges. Also price of BTC is high and transactions are slow, therefore, it is much easier to trade alt-coins against stablecoins like USDT, BUSD, etc. Remember that wasn't easy during 2018!
Hive has a relatively short price history since the hardfork from steem, but never during its 9 months of existence has hive put it 5 big green candles in a row with substantial volume support. We now have a solid rounded bottom around 10 cents, which will likely hold in the next forseable future.
Even against the mighty BTC, we begin to rally. You guys must realize, how hard it is for any alt-coin to rally against BTC, when BTC is pushing all time high almost daily. That is the fundamental argument of most BTC maximalists. It is card to catch and keep a alt-coin gain against BTC even during a raging bull market in crypto. That said, times have changed somewhat. During 2017-18, I was hard pressed to find any non-BTC altcoins pair that has any meaningful volume. Now that is not the case. Both Binance and Bitrex have multiple stablecoin-altcoins solutions. I think that is a great new for most small trader. As they can trade and collect gains in USD pegged stable coins. The above Hive/BTC chart shows a higher low, which is holding for now. This has never happened before with Hive. So let us forget our differences, and focus on the projects at hand. Let get the name out there.
And Oh! Please buy some hive and power up! :)
Cheers!
Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.
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