HIVE has support in the fundamentals from many projects right now, including 3Speak, LeoFinance, and several upgrades to blockchain framework.
Not to mention, it appears the overall bull market in cryptos (aka "Alt Season") has finally been confirmed. Coins with communities, real world uses, and/or working infrastructure will ride this wave. BTC dominance has dipped to 58%, and I expect that to continue downward (even as Bitcoin has more bull moves once it breaks 60k).
I should also make note that the Fed continues to create trillions from thin air, and people are losing faith in traditional fiat currencies. Even the most statist of media companies are admitting massive inflation across the board is coming. And people are getting another round of stimulus checks any day, some of which finds its way into crptocurrencies.
After scraping along 10 cents over Christmas, following a years-long slow grind down from 8.2 USD, the price of HIVE finally began to recover in 2021.
(Note: 8.2 USD in 2018 is equivalent to 8.6 USD in 2021, even using the government's understated inflation rate. So the all time high is really at least $8.60.)
Here is my post 2 weeks ago, where I wrote the price "has been met by an unprecedented volume of sudden selling, hammering the price down each time it breaks through 0.3 USD."
A week ago, the price consolidated and moved above 30 cents again. This time, there was no corresponding spike in volume - the big seller(s) didn't appear - and it continued climbing to 40 cents.
Today's chart:
Today, we're solidly into the 40s, nearing 45. It's the highest price since the brief spike right after the fork from Steem. There's really no resistance above us to speak of. I expect the price to climb as the currency grows - sometimes in sudden spurts.
The big story for volume is that there isn't any. It just dropped off (back to normal) after those two MASSIVE spikes, which prevented price progression into the thirties.
Long story short, the selling volume keeping the price down is gone, and the price is predictably moving upward. Technicals and fundamentals all finally look very positive for HIVE.
One of the juiciest setups I've seen in a little bit:
And of course, the obligatory "this is not trading/investing/girlfriend advice".
But I'm sure at least a few will join me in saying...
DRutter
