So we start the week with Hive dipping around 4% from yesterday's price, with Hive currently trading at $0.21. While Bitcoin is down around 3.5% so it's hardly surprising we're seeing Hive drop a bit.
Let's not forget where Hive was only a couple of weeks ago averaging a high of $0.17 and trading sideways from that mark for most of the time. So, just like with most of the alts, Hive isn't doing too badly at all when considering the wider picture.
We've witnessed some solid gains with Hive in recent days and despite what I believe is a small temporary decline the overall trajectory Hive is on is one of slow steady strength. It's almost the two steps forward one step back model we're seeing.
Take peek at the 24 hours trading volume and Hive is at the $3.1m mark. It still amazes me that even in a low price cycle the amount of Hive traded in one day is over $3m.
As you can see the all time low for this cycle is $0.15, which Hive hit on the 5th August.
Hopefully, this will be the bottom for this cycle and Hive will be on a horizontal or vertical movement from now on.
Take a look at the weekly Hive price graph and you can see that price of Hive overall is up around 2% on the previous week. It peaked at $0.24 five days ago and then fell back, but even at $0.21 Hive is doing just fine.
Peace!
