There has been a couple of days of sideways movement below 30 cents but at some point, we'll have to start having difficult conversations about Hive. Considering the amount of FUD being peddled, it is safe to say that the worst is yet to come.
At 29 cents, Hive is still doing pretty well in the market. All things considered, I'll say the community is doing a solid job in keeping the value where it currently is.
Alas, there are forces beyond the community at play and at some point, it seems like Hive will cave into the pressure. It is not much of a prediction than an acceptance of our current reality.
The simple fact is that the market is toasted and there's no nicer way to put it. The worse part is that there's no sign of relief in sight but that's no reason to panic, I guess.
Hive is down bad right now and it's not just about the price of the cryptocurrency. The activity level on the platform has dropped dramatically, as many creators have fled for greener pastures.
Those of us that stick around choose to see value in a situation that others don't and naturally, we hope it will pay off in the long run. Most of us are simply in love with the community and will continue being around, regardless of the price of Hive.
The earnings are nice and Hive still promises some of that. However, it goes beyond just money and I dare say it borders on love.
You look around the community and all you see are individuals doubling down on their efforts to grow on Hive. No one is thrilled by the drop in price but at the same time, no one is scared of a dump, if it comes around.
For me, the plan is simple: dollar cost averaging. If Hive actually drops to 10 cents range, I'll pull out funds from my HBD savings and buy small amounts Hive power.
I wish I had the answer to that question right now. I'm not a day trader and the only chart I've checked in months is Summoner Lab for Splinterlands assets, so I don't know much about the crypto market.
I have been keeping up with the FUDish publications peddled around the internet and they don't make for good reading. Analysts have been predicting more doom and gloom in the future, and with the way things are right now, it is hard not to be pessimistic.
At the same time, analysts have been wrong about the market before, so I'd take whatever you see on the internet with a pinch of salt.
10, 5 or 2 cents? how low can Hive really go? We don't know for sure but one thing that's certain is that I'll be sticking around for the entire ride.
