I have been on Hive for quite some time and when I joined, which was early 2018, the price of Hive (Steem) was quite high, I didn’t know much about cryptocurrency then and there was this guy who normally upvoted me, who I reached out too on discord. I was forced to ask him how he accumulated so much hive power. He was very sincere with me and he said he accumulated so much hive when the price was low. He advised me to buy Hive when the price goes down and I should never miss out on such opportunities.
He emphasized so much on price that I should not buy when the price is high but wait till it undervalued. The phrase my friend keeps referring to is “price is not everything in cryptocurrency because it can be misleading”. ever since then, I’ve stuck with this philosophy that price is not everything in cryptocurrency and it can determine when you buy and also when you sell but price alone is not enough. I know this simple philosophy can look easy, but it is very scary because when the price is low, we are scared to buy and when the price is high, we are also scared to sell just because we don’t want to miss out.
Price alone should not be your entry
There is a good feeling that comes from seeing your post being upvoted, especially from a whale that owns huge hive powerbut what most people don’t consider is that some of these people made sacrifices, some of the whales joined hive early and they accumulated so much without complaining because they believe in the project and they also see price as a perfect entry point. the mistake most people normally make no matter the price is that they will complain. They have never looked beyond and grabbed the opportunity in front of them.
instead of people buying Hive and thinking long time and also seeing the present price as a perfect entry, they are complaining about the price of Hive instead of making use of this opportunity and positioning themselves for the future, also becoming whales in the process, creating a big attention for themselves and also make more money in the process. it is normal to be concerned about price, if the price is too high for you don’t buy, and if the price is too low for you don't buy. there is no point in complaining.
Just do it
Price is not everything in investing, and not price should determine your entry point and also your exit point because this must be coupled with your understanding about the project. there is no point in complaining about the price, immediately you’ve done your homework and you see that the project is undervalued but the price is saying a different thing, just keep buying it and maybe become a whale in the process. Most people who invest in Amazon early knows price and value are different.
if the price of Hive should drop further, you should be happy to buy because you understand the system and you know that the project is very good but comparing Hive with some other project won't do any good. Why can’t you focus on Hive and keep building and maximizing the opportunity by buying when the price is low?