I just had a look at the price of HIVE on HIVE Wallet and was sad to see that it has now dipped under $0.20. Its decline continues, although hand-in-hand with a declining price of BTC.
[Credit/Source: Screen shot from HIVE Wallet trading screen at the time of posting on 04/07/24]
Looking at the chart above, there are a lot of people lining up to dump HBD for HIVE if it drops further towards $0.18. I'd do the same if I had any HBD to sell.
[Credit/Source: Screen shot of HIVE 1 year price from CoinMarketCap at the time of posting on 04/07/24]
The 1 year price chart above shows some grim numbers (in my opinion). The price was in the $0.30s for most of the year apart from the brief spike up towards the $0.50s, and now we have this latter drop to just below $0.20.
[Credit/Source: Screen shot of BTC 1 year price from CoinMarketCap at the time of posting on 04/07/24]
When you compare to the 1 year price graph for BTC, the problem is that HIVE didnt rise on the coattails of BTC like it has in the past when BTC was heading up towards $70k. To make it worse, HIVE is however, going down with BTC.
I know people have been talking about alt season coming - but I've basically been hearing that for a long time now. I dont want to be skeptical, and I hope that it is coming - but why would it ?
Its sad to see. HIVE has a lot of utility but not remotely enough uptake. I do genuinely take my hat of to those that are driving onboarding, but its not looking great. I guess the question is whether the current price will drive more people away (why spend more time on it if the return is diminishing) and will potential prospects that could be onboarded give it a miss because it looks like its hitting the skids.
Who knows. I have invested my time here so I aim to stick it out and do what I can - but its tough times.