Are we there yet? I asked the bear as we are riding on the bearish wave, should I say 2022 started off on the wrong foot. We are still in the first quarter of the year, which I was so expectant of the movement of Hive in the crypto market. I started off on the blockchain when it’s native token was trading at $2.1 per 1 token, and it was a beautiful experience, and it was a beautiful experience, I never in my wildest dream thought of seeing the token trading below $1.
The bearish run took a turn on all projects and tokens including the dominatable Bitcoin and other alternative tokens. I woke up this morning to see Bitcoin selling below forty thousand dollars ($40,000) will I felt a bit disappointed because at this point I don't know where the bear is taking us. Seeing other alternative tokens such as Ethereum taking this same turn makes me feel that the market we are about to to experience a Deja Vu, I heard stories where Ethereum was selling below average and then I am thinking to myself are we not heading there?.
During the bearish ride, MicroStrategy has refused to sell its digital assets, and the software manufacturing firm has been able to accumulate five billion dollars worth of bitcoin. The dip saw the worth of this Stash reduce by forty percent(40%) and the chief executive officer Michel Saylor had told the public that they are not selling , which clearly states that they are going diamond hand on it. Hearing this I thought to myself, what if this bearish run is a lengthy one, what will be of them and their bitcoin stash.
MicroStrategy has been acquiring bitcoin since August 2020 and since then they have been able to include it in their account balance sheet, well am quite impressed that the are not working on their emotions during the acquisition of this digital property and intend holding no matter the current state of the market. Michael Saylor is taking a stance that firm is the bull of bitcoin that they are not selling, which is their strategy in the market.
The coming weeks may be bloody, but nonetheless, I hope the Hive token emerges from this with a new all-time high, ushering in a new era for the project, but until then, I'll keep my fingers crossed as I await the outcome.