Hi everyone,
Has the pump ended? Or waiting for the market to bounce back?
Either one, Hive is still the show stopper.
To me, Hive really has stole the show for the past few weeks. Recorded its ATH in last October at around $1, it continued to significantly increase after that and really showed non-stopping ATH after ATH in a span of 1 week. Thus, recording its new ATH at $3.41 a few days ago.
Now, the price looks like will sustain or retain at the viccinity of $2 - $2.3.
One important thing to notice during the Hive price increase was that it happened when Bitcoin price dumped from $60k to $56k. This event is significant as Hive may not too dependant on Bitcoin in terms of market capitalization. Hence, perhaps we can safely say that Hive price market can sustain by itself and this is a good indication that Hive is actually gaining traction among investors.
Hive increase in market volume
Another thing to notice is that, during the ATH, the Hive market volume increased in volume. This is good as more trades are happening actively. Hence, this significantly increased Hive ranking among other blockchain including Steem.
A good indicator that Hive price may stabilize rather than dumps
That said, looking at how the market has reacted especially the Bitcoin dumps, we might see Hive price may stay at least at $2 during this dump because Hive has shown and in fact proven its sustainability and offers promising ROI.
BTFD Hive
Before you make any decision, remember this, Hive price has just started to increase this year and looking back, Hive was only $0.7 - $0.8 earlier this year.
Hive price rose significantly in a short span but maintains or at least retains the price as it is.
It was kind of akward saying BTFD Hive due to this event, but man, I am gonna BTFD Hive before the next bull comes or at least the market bounce back. When that happens, Hive may again goes another round of ATH.