Last few month were pretty tough for 'hiveans'. The continuous price drop is quite alarming as people who have staked their investment / their hard earned rewards were worried as their investment has plummeted to new low. At the time of writing hive prices is pretty low as far as I remember and is trading below than 0.9 cents Some of the Users or so called content creator have been here since more than 8 years hoping and expecting hive to reach a new height or even to the moon. But now seeing the falling prices all the expectation are getting to new low. Even, it tested my patience too. I was wondering , where it will take us near future.?
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All those who have invested and staked their power on hive blockchain, were quite low on expectation. Personally, I know few users who had seen "hive" as a great platform to start the crypto journey. They were active in all possible way they can. The users are still hoping to see a turnaround in price so that they can fulfil their wishes. There is an expectation that the alt season will arrive and will see a booming hive price again. But the most of the mindset that is prevailing now would be directed to get the benefit with slightest of the increase in hive prices. Means I am hoping to witness a mass selling of hive token as soon as the price rise a bit. Hive has never proven to be a wine that get pretty fine with ageing. The platform is still dealing with on boarding new user, retaining the user and other issues. With almost a decades to this blockchain, people who were seeing a long-term future with hive is losing faith in it. I can feel the vibes around the platform, they now wanted to encash whatever profit they could make.
This is the most common tendency to sell winning positions too early and hold losing positions too long. Hiveans stayed long enough now to count money. There is always a strong fear that if one does not sell now, the price will drop, leading to regret over not selling at the peak. In a nutshell, the common human mindset is to reduce risk by converting paper gains into cash due to an oversensitivity to potential losses. Considering on the common human psychology and people mindset, a slightest of price rise may trigger a false alarm of converting the token getting the free money. When i began the Journey on Hive, someone advised me that hive is a source of free money and free stuffs does not stay longer. Now after witnessing the downfall, many would have lost faith of seeing the prices soaring back to $3 or even to $10. It is a true fact that many people are motivated by self interest or short term gain, and they sell everything or leave as soon as they see a small profit. This mindset often stems from a lack of resources and insecurity. This is a kind of situation where people prioritize immediate profits over long term consequences. But talking of the long term, aren't the initial stakeholders getting impatient now seeing the continuous drop in hive prices ? 10 years is a enough to a get handsome return on your investment.
But there is a check in place, a hiver require 13 weeks of withdrawal time to get liquid #hive. The question is in those 13 weeks, can hive able to sustain the price hike? And if the user does not able convert in time, they may end up bruised and broken. Many people does not have the patience to stay afloat for longer. But then what will happen to hive? Today many user already stopped making content, and neither show up for curation or engagement. Few would be waiting for price rise, so that they can show up again. but the thing is the situation is getting too dicey now. The falling prices is quite alarming. May be I am missing on something, do you see where it will take us?
In good faith - Peace!!
