But i often dont understand how hive can have so many people earning and cashing out from reward pool and yet still go up.

Hive's yearly inflation is less than 8%.
So if the demand to buy Hive in a year is higher than 8% number will go up.
Even Bitcoin still has an inflation rate of something like 1%.

Curious your prediction of Hive high water mark for this bull run?

I don't have one.
Hive is too volatile and unpredictable to even guess.
We're off to a good start though $2 would not be difficult.
Last cycle Hive went x30 from the bottom.
If we pulled a similar move this time from 16 cents that would be $5.
But selling the top is not important it's better to stay balanced and not wipe out.
Will write more about this when it's relevant.