My sister and I had a conversation about crypto some days ago. Most of the conversation was about Hive, projects on Hive and some "adjacents" like Polycub and Cub from Leofinance.
At the time we had that conversation, Hive was trading very close to the 50 cents mark. My sister talked extensively about how she intended to play her cards in the incoming bull market and how central hive will be to making profit.
She maintained that while at the time we were seeing some bullish divergence in Hive trading activities, this wasn't the main bull market. So, the general idea was that she would wait out this pre-bull run hype, then buy the dip from correction.
She based her opinion off the past two bull markets, that happened 4 and 8, years ago. She continued that it is typical of the market to pre-pump before the halvening and that the main pump comes right after the said halvening. So, ultimately, her plan is to buy the dip that comes right after the pre-pump.
Now I've never been a trader that focuses on micro trends, so I've never been one to give advice about timing. However, when you zoom out of the charts, you'll find a distinct pattern of higher lows before the halvening-induced bull market.
The issue, as I pointed out in the previous paragraph is that when you zoom in, I become powerless. So, I tend to work with holistic variables, rather than short term trends.
So, I cannot tell for certain whether a dip is the dip for the moment. However, I can tell whether a dip will generally happen within a larger time frame and the same goes for a pump.
During the conversation with my sister, I explained to her that timing the market to that level of precision requires some level of nous that is beyond me. So, I generally refrain from participating in such tactical moves.
Coming to the present, where we have Hive trading at 39 cents, at the moment, it is safe to ask whether this is THE dip or just a precursor for it. How low will Hive go?
Yesterday, I bought Hive at around 40 cents and powered it up, as I work towards achieving my 5K Hive power goal for the year. I bought without any hesitation and if I had more funds available, I'd have bought more.
The way I see it, there will be a period of correction and I think we're in that said period. So, I'll be taking the opportunity to buy Hive right now, staking most of it but keeping a little bit liquid to squeeze out some profit.
