So, yesterday Hive had one of its periodic "pump and dump" rollercoaster rides. Seems like those have become an almost expected part of the landscape, around here.

In general, these events don't seem to really do anything for Hive, or for the general longer term price of Hive. Typically, there's a sudden steep 30-50% run-up over a short (hours, or less) period on super high trading volume (sometimes 50-100 TIMES normal), followed by a slower gradual decline, that usually takes from 48 hours to maybe a week.

In the end, the price of Hive tends to return to "about where it was" before the pump; sometimes ending up a few percent higher; sometimes actually ending lower, if the preceding trend was downwards.

Sometimes, I hear a bit of grumbling about how these "investors" ought to put their Hive into something more "useful" like curation, to actually support the community... and we all know it's a "bad idea" to keep your crypto on an exchange, anyway... right?

I think the part of the equation that is often overlooked — because we tend to become a bit myopic and Hive-centric around here — is the most of these people who might own 100,000 Hive on an exchange somewhere... likely don't even know anything about Hive, content creation, curation and such.

They simply "own an asset" purchased perhaps because there was some "buy signal," and they will hold it till they get at a "sell signal," and much like the legacy stock market they never see Hive (the community) as anything more than a symbol that's involved in a trading or investment portfolio.

What's more, simply because they own 100,000 Hive on an exchange doesn't mean they actually have a Hive account and wallet. That's a whole separate process... and if they are traders, probably more hassle than they want to deal with.

Whether we'd all like to change that approach is a whole different kettle of fish, and for a different discussion.

Since I am not a trader, I don't really get excited about these periodic "spikes." Seems like we have had at least a dozen of them, since I've been here.

I'm not a "technician" but they look and "feel" very different from an actual rally, where the price rises much more slowly on sustained higher (but rarely extreme) volume, and you get a clear sense that there is actual accumulation happening.

Sadly, it has been a long time since we've seen that sort of pattern.

Meanwhile, yesterday's run to about $0.45 has now given back most of the gains, and we're back to about $0.40.

=^..=

CuratorCat 2023.03.30