If you've been active in the cryptosphere since yesterday, you may have heard these words, us and them due to what's happened.
I'm not going to detail the events, let's just say El Salvador has shown the world and especially those who are against crypto, how it's done. Long story short, there was a flash crash, resulting in a 20-25% dip. I was watching the charts as the whole world and watched how small cap alts being crashed, but not HIVE.
To be honest, I was expecting HIVE to be hit hard too but to my surprise, that did not happen. HIVE has been holding strong ever since and there are no signs it's going to crash yet. I know, don't try to predict the market, right?
HIVE is still well above the 200 MA, which is very good, unlike BTC and some major alts.
Based on what's happened yesterday, I mean the El Salvador BTC adoption and the flash crash, people were saying it's us against them. They were referring to us crypto believers against those who are supporting the old system and fighting crypto adoption. It seems the whole crash was orchestrated in order to show volatility hurts, but Nayib Bukele is not new to this, he knew this is coming, so he had a solution.
My title says Us & Them. By that I mean us, Hive and them, the rest of the crypto world.
I must admit, I'm not holding a great variety of tokens, my trading portfolio is limited to under 15 tokens and of all those, HIVE was the only one with a single digit drop percentage and today it was green again.
I don't know how much HIVE is on exchanges, I'm sure you can check on Coingeko and also have no idea who's holding those bags but there was no massive selling.
Yesterday there was no volume.
If you look at the BTC/USD chart, there was plenty of volume as there was interest to sell, trigger stop losses, liquidate leverage traders and also start the panic selling avalanche.
Now HIVE is trading sideways, we still need a couple of days for the market to settle and show clear direction, but HIVE is HIVE, it's not like any other coin. That is clearly visible if you look at the chart. It has been proven once again, not that it was needed.
They say a coin is as strong as the project behind it and here is the proof, not that I have ever had any doubts regarding HIVE. (Go check steem price if you need reassurance.)
Looking back in time, we've been through a lot of 💩 over the past few years and each event is making us stronger. I'm really proud of HIVE. Let's see what the upcoming future holds for us.
