I woke up this morning to see $HIVE is up 56%. Not a bad start to the day as I finish up some coffee and start looking for a topic to write about. I started to look at where the volume was coming from and it looks like we are getting a pump from Bithumb with about 7% of the volume or $46m traded.
$BTC and $ETH are down about 1% at this time so it looks like Hive is pumping by external factors relative to the rest of the market. I don't think we will hold these gains, but it would be great if we could create a new support in the mid $0.30 cent range after taking a beating after the FED announcement of 2 rate cuts next year.
As part of my research this morning I came across an article on coingecko about a crypto analyst on TradingView, sharing his analysis of the Hive and his 750% prediction. He thinks this goal may take three to six months to reach which would be amazing.
I don't disagree with him as Hive is rising from a four-year-long bottom marked by a long-term higher low. I think the alt market looks ready for a major uptrend after a period of protracted sideways movement and a last decline to long-term support levels. Not to mention, Hive has a strong community working to further our technology and build a functional community unlike many other projects. I have faith that Hive's value will be seen I just wish we could get a big listing like Coinbase.