Excitement was high after the community had successfully defended itself their would be attacker.
New exchange listings were flying left and right.
The price of the coin soared as high as $1.
Things were looking good for ol HIVE and the community backing it.
However, fast forward a few months and the development has been much slower than anyone anticipated, the coin price is in the gutter with no signs of relenting and things just aren't that cheerful around here for many HIVE HODLers.
Let me just remind you that, this too shall pass.
The coin price may end up going a little lower than this but at some point it will get low enough that many of the regular joes can step in and support the price.
(Source: https://coinmarketcap.com/currencies/hive-blockchain/)
Currently we are probably not there yet, but probably not that far off either.
At a $40 million market cap we are getting down to some pretty low levels here.
The reason why I don't think this will last forever, and probably not much longer is that this isn't HIVE specific.
Sure HIVE has been one of the laggards, but it's not THE laggard.
There are many altcoins that have been absolutely crushed these last few months, HIVE included.
The pain we have experienced has felt even worse considering that bitcoin has been up during this period of time.
So not only are we losing USD value, but we are losing major BTC value.
We have seen time and time again though that eventually there are altcoin seasons. Periods of time where money flows out of bitcoin and into the altcoins.
Given how thinly traded they are, it doesn't take much buying pressure to move the prices several multiples from where they were previously.
Another reason I don't think the pain will last forever is due to the development going on with some of the apps on or related to HIVE.
Splinterlands continues to be the most popular app in crypto with big growth plans coming.
LEO continues to be the darling of the HIVE ecosystem on the verge or massive growth that would also undoubtedly help HIVE.
dCity as well as some other games continue to show solid user growth in-spite of the downtrend of HIVE.
Add all this up and at some point there will be a tipping point where there simply isn't enough HIVE to go around for the number of users getting involved in the ecosystem and the price will have no where to go but up.
Hopefully that time comes sooner rather than later, but I do not doubt that it is coming.
Stay informed my friends.
-Doc
