Okay, okay - I was expecting some speculative volatility, but this is ridiculous...
I was selling and hoping to catch some dips for the next run up, but as you can see from my re-buy points, I sold much too early and it will be unlikely that it is going to drop that far fast enough for me to catch the next run. Well, I am happy with what I was able to sell at ... I should have gone to bed and stopped watching at that point.
Gotta say though, someone really wants some HIVE tokens.
This was on Bittrex as Binance still has withdrawals closed, which is why they and Huobi had to accept the terms of the airdrop of HIVE to STEEM holders, because if they didn't there would have been an uproar as their clients wouldn't be able to withdraw to get them onto the chain for the snapshot. The two exchanges hold about 37 million STEEM between them that is still powered up and is being released over the 13 weeks.
Whenever there are airdrops like the one Hive will perform, there will be people who want to maximize their token drop. After that, I am guessing there will be a relatively rapid decline in at least Steem, as those who have committed to the new chain dump all they have onto the market. But, this is speculation.
It is nearly all speculation and hype for the most part, but at least when it comes to Steem and now Hive, there is more to the project than just speculation, as there is a community of users and applications behind it. This gives me some peace of mind, as due to the user base and token capabilities, there will always be some value in the token.
"Some" doesn't mean "a lot".
But, one never knows what will happen in crypto and what projects will rise and fall long-term, because so far, non of the projects have a long history, including Bitcoin. 11 years is nothing for a business, but it doesn't look like it is going anywhere fast either, so the next 11 will be interesting. With the price at what it is today and the halving coming up fast, those with some cash to spend are likely going to make a fortune, those without the disposable income are well, going to be in my position.
2020 was meant to be a booming year for my family, but in less than two weeks, a house we haven't moved into yet is losing value, my business is all but dead due to a global flu and my second job is now my main job, and that is going to be affected also, not to mention, my wife is only six months into her position and is likely on the last in, first out list.
But, practice what you preach is the order of the day and it is a suck it up position and do what it takes to survive to give the opportunity to thrive later. Sometimes loss is unavoidable and it all comes down to limiting the loss and mitigating the conditions.
Come Friday, the next chapter of my blockchain journey continues onto a new chain and while there is again (still) a great deal of uncertainty, I will continue on working toward positioning myself in a place that has the potential to one day lower the affects of life challenge on my family. I am not expecting it to be in the first months or maybe even years, but I am planning that there are years of life ahead, so it is imperative that the ground work is laid now.
But on that note and with no liquids, I can't keep watching the price of Steem increase, so I will go to bed happy in the knowledge that if push comes to shove, I have a little Bitcoin I can use to feed my family with, if needs be. I am yet to use even a dollar of crypto for anything personal and at these prices and with the amounts I hold, I don't think that is going to change for a while.
Night all and for those who do have some liquids, have fun out there :)
5100 sats now.
Taraz
