HIVE price as we know has been bleeding for a while. The correction after the massive pump which set our ATH has been steep (totally expected) with only one noteworthy bounce in the first week of May.
Now, it seems to be attempting to break out of its downhill run.
This is the USDT chart on Huobi and you can see we're down 76.70% from the $1 ATH while the potential for returns if and when we go back to $1 from current levels is over 300%. That's not to say that HIVE will simply pump back up there overnight.
One can only hope to trade level to level or HODL long term and forget about anything in the middle. But, I like to be pro-active so this is my expectation and I think market has found its fair value for Hive after this downwards move.
The Daily chart for HIVE/BTC Bittrex shows a large downwards run. Suffice to say HIVE has placed itself amongst the highly volatile coins that pump very fast but also tend to lose value fairly quickly.
Some might say its not a good thing generally when you compare its price action to other tokens whose charts are healthier in comparison. But some people like trading coins that offer more stability, others like faster action. You get to choose.
Whatever your style, preference and outlook, crypto space offers a good potential for speculation on price no matter what coin you select. After all anything that goes up, must come down but not every crypto that dumps, manages to go back up fully. That's the reality and that's fine.
But it's safer to speculate from one level to another and not worry too much what the price will do a few months from now.
This is my current chart and my expectation is that HIVE will try to move above 30 cents for starters with a hope that BTC movements doesn't ruin it for us here.
HIVE has shown a good bounce on lower time frames after BTC rejected again 10K so I hope to see it continuing to push higher.
While I prefer trading a stablecoin pairing. But if HIVE moves up strongly, it will lead to a better HIVE/BTC price as well, especially if BTC remains sideways or goes down during a HIVE pump.
Overall, I'm happy to see HIVE hold a better value and reputation than STEEM and I've been happy to sell my STEEM for HIVE in recent times. I'm so glad that Hive project is shaping well so far and hope to close this year with a better valuation!
No matter what you trade, remember to manage your risk properly.
Thanks to our hardworking witnesses we have Hive trading on many exchanges today.
While many love the idea of staking coins in the crypto space, people love speculating on the value more in my opinion. So it definitely helps to have Hive trading on as many popular and well known exchanges as possible.
Fundamentally, as HIVE development continues I think we are in a good position to build our bags currently for the long haul.
