Hive is hard to understand. The website doesn't explain the different visions.

Hive is a community hardfork. A lot of Justin Sun lovers dump their tokens to buy a centralized one instead. Forks usually get 10-15% of the "original" coin in marketcap.

Hive tends to pump when retail gets into blockchain, and retail didn't really kick in until this week (google search stats).

Hive has negative feedback loops with HBD. (which becomes a positive feedback loop as soon as hive starts rising).

Hive has lots of selling pressure due to people cashing out post rewards and witnesses paying for nodes/financing projects through the DAO. This sell pressure also becomes weaker in a bull market as HBDs are insignificant compared to hive's market cap.

Hive has not seen demand shocks yet as RCs are still abundant (will not last long)

Hive has lost the "official team" behind the coin (Steemit devs and marketing people)

Despite all of this hive has been trading sideways for the last two months, since its 10 cents bottom on the 1st of November. It is even up 30% if we take the current price of 13 cents. Development has never been faster without the old dev team.

Developments are appearing everywhere, and succeeding (Splinterlands, Leo, dbuzz, rabona). Nodes are cheaper than ever to run. Retail is coming. I've never been more bullish than now.

Edit - Hive also lost the SEO steemit provided, which was important for a lot of content creators.