Bear Market Pain Continues for HIVE
Free falling, guys. Another leg down for HIVE as we’re approaching the cycle low again. A few weeks ago, we touched 5.5 cents and managed to recover, but with markets dumping again this morning, we’re getting close to that level once more, trading at 5.7 cents right now.
Really tough times for HIVE holders. We’re down around -90% from last year’s top of 68 cents, and it definitely hurts. The bear market still doesn’t seem to be over, with macro headwinds and constant FUD weighing on sentiment.
The good news, though, is that HIVE’s market cap is now so small that even a modest amount of buying pressure could move it up quickly again. CoinMarketCap currently values it at roughly $30M USD, which is tiny. Hard to believe we were sitting at $1B not too long ago.
Hive on, guys, and HODL. This is not the time to sell. While I don’t think we’ll ever see $3.41 again, I do believe a recovery will happen, and HIVE will most likely be trading much higher 18 months from now.