Happy new month people! Moonvember was a blast and I didn鈥檛 want it to finish. October pretty much showed us what November was going to look like, half dips and half pumps juggled up together in BTC and it didn鈥檛 disappoint, we got quite a mix of both up and downward trends.
Hive was the highlight of my entire November. Like edicted said, Hive in a way made all time highs at over 3$, but when we look at it from Steems perspective, then we can say hive pumped really hard....based on, but a far cry.... from the former ATH of 8$.
Hive actually pumped from basically 0.7$ -3.4$ held support at 1.5$ and is testing above 2$ severally even while Bitcoin remained stable with fewer dips than pumps. I sold a bit of Hive close to 2$, but I鈥檝e raised most back and plan to raise all back.
Personally, Hives price actions was a sight to behold, still is and you can trust that the entire community suggested a million theories as to why the pump happened. For me, I鈥檝e never experienced Hive pump this much not even while I was on Steem, so I wasn鈥檛 even looking for reasons, I was more concerned about how long it was going to last.
At the moment of writing this post, Hive is worth about $2.4, here is something I鈥檓 shy to admit, at some point my wallet balance was showing over $25k and I stopped myself from looking at it because I didnt want to warm up to a $25k account and get used to it, that鈥檚 about the highest value I鈥檝e ever held in one account.
It felt impossible on one hand but on the other hand it felt like I haven鈥檛 even seen anything yet. Everybody on Hive wants to know what鈥檚 next now, if we are at the top, if now is the best time to sell, if there鈥檚 still more steam left to go....no one knows....so whether the show is over or not, my ideal major selling price is 5$ Or I鈥檒l just end up powering back up the liquid I hold.
What鈥檚 December going to be like? People have called it degen December, I鈥檓 not exactly sure what that means but I think it has something to do with more green candles. Well, I plan to remove $2k out of my Crypto portfolio to invest in an offline business that could help reduce my dependency on crypto earnings. I鈥檒l talk about this later.
My plan is to take advantage of the pumps and sell a little here and there till I reach my goal. Then the rest of the portfolio can continue piling up to be reinvested or diversify.
I鈥檒l like to make mention of Rune as well, it鈥檚 been hovering around $10-$12, but so much work has been going on beneath the surface. Just yesterday, the network performed its first sharding which enables more people to become validators, this is a big deal that further strengthens the network and not a lot of people realize how important it is. I鈥檓 still bullish on Thorchain.
This post has gotten so long already, but I need to mention Splinterlands as well. Presently, 1000DEC is worth 10$, and has been hovering here for the whole month. DEC floor seems hella stronk to me. What鈥檚 next from here though? We are one the 128th day of SPS airdrops, really seems like it was just yesterday they started to come in though.
Unpopular opinion, for some reason, it seems like we may not see much price action from SPS for the next 1 or 2 years, this entire period is for accumulation, I just strongly feel so, except Splinterlands releases some genius utility that encourages holding it. IMO, if at all, this utility should follow the start of CL. But who knows.
Thoughts about general market sentiment. Bitcoin has been ranging away from its all time highs, a couple of alts have experienced some massive runs. Typically it is easy to see a top at this junction. But looking at historical performances plus whale moves like Microstrategy loading up on more Bitcoins at 56k$ dips, followed by El Salvador and others,....
....And as we鈥檝e seen from previous months, when these guys load up on dips, they鈥檝e never gone wrong. Govts around the world are still shitty, COVID Omicron is about to send the world into another episode of lock down, money printers just got another excuse to make the printer go brrrrr.
Inflation is climbing and interest rates are falling hard, everything is pointing towards a better inclusive financial system, it鈥檚 like the world is by itself placing Crypto in the hands of people. I won鈥檛 be surprised if we don鈥檛 go into a bear market till mid next year.
This is not to say there won鈥檛 be series of dips along the way, but they will be accompanied with strong pumps. Legit tokens like RUNE, LEO, etc are yet to smash their all time highs. I鈥檓 confident that the market still has a lot of steam left to go. Here am I thinking $25k account balance was a lot, I better started getting used to it. It in fact could only be a fraction of what is coming, inevitably.
It鈥檒l be awesome if November only showed us a fraction of what December will look like. And if it decides to do otherwise, it only tells us that there鈥檚 still so much room for expansion and growth and more time to get cheap Crypto, Hive in particular.
I wish you the best of the year this December, I hope your plans are fruitful and you have reasons to genuinely celebrate everyday of this month. Happy degen December and merry Christmas in advance.