There was some fear overnight in regards to president Trumps nomination for the next Fed chairman. The premise is Trump's selection is a hawkish fed which means he likes pushing rates higher. Higher will also limit overall market lending in turn lower financial activities. As a whole it would weaken market prospects.
So why would Trump want a hawkish fed when he prefers lowering rates? Government is trying to balance out the value of the dollar around the globe. With a weaker dollar they can trade more but too weak of a dollar it would expose the country to excessive inflation. In recent days metals markets have been rising dramatically and with that the appearance of a weaker dollar. I personally believe Trump is nominating hawkish fed to make the impression of a stronger dollar and drag down commodities. The down draft is pulling the equities markets and also crypto markets.
With all that being said Hive price have fallen to a yearly low.
It is now under $0.09 per Hive but DEC and SPS has been ramping up relative to Hive and continues to do so. With that I sold more of my card collection to swap into more Hive.
I am hoping I can sell a few more in time where Hive is still at this price. Not sure how long Hive will stay at this price but I am doing my part to accumulate more.
Thanks for reading this post.
