Once up on a time, I had just got into bed and happened to look at my phone, only to see a massive green candle forming on HIVE and to end up back in front of the computer, trying to move some of my sells up.
That was tonight. It is almost 3am.
I like seeing this happen, just after I bought some Hive at 928 to trade. I took a little at 25% up, but have a fair bit more waiting to see where it is going to go. The volume has doubled in the last 15 minutes on Binance and we are only a touch away from the 1328 high against BTC a week or so ago.
Nope - it is well past that now.
Will it go through a dollar tonight?
What is also interesting is so far, HIVE peaked at 1540 and STEEM moved (as "weirdly" it often does) at the same time, but shifted up to 1507. It has been a very long time since HIVE has outpriced STEEM, in fact, I think it has been since the first weeks after the fork. Even now, they are bouncing around the same satoshi level and while it doesn't really matter, I personally hope Hive doesn't drop under Steem again as while they are so similar - they are oh so very different.
For a brief moment, my account value on Peakd (which draws price real-time price) tipped over the 200,000 dollar mark, which is almost double what it was back at the ATH in early 2018. It was only a couple weeks ago that it crossed the 100K mark for the first time as a Hive account. Pretty damn amazing.
It is hard not to be excited over these kinds of moves in value as while there very little connection between price and quality in relation to project, seeing the value increase dramatically of something worked so hard for, feels like validation. It is just a spike, I ma not getting too excited yet - but it is a lot of fun to watch.
I expect it will fall back pretty hard, so while I sold on the way up, I now have buys for the way back down and hopefully in the morning, one of two things will have happened. Either, I will have a few thousand more Hive to my name, or my account value will be dramatically higher and I will have a few less - either way, I will call it a win.
However, if it doesn't crash back down quickly as it usually would on such a spike, I think there will be quite a few people sweating who blew their load early if they sold much lower than the peak and can't get ack in to a climbing asset. The thing about this though is, if you aren't happy to sell at the price it sold at, why sell? I have bought Hive in the last few months in order to catch some of these spikes as I expect them to happen in a bull market, setting sells where I am comfortable. Much of the sells that have triggered tonight are 100% or more up on where I bought them.
While it looks to be dying at the moment on the markets, HIVE hit 86 cent tonight. Which means that since the start of the year, there has been an 800% gain on Hive, as the bottom in 2021 was around 11 cents. What this also means is that a post that paid out at the low, is now worth 8x more than it was at time of payout. Again, this is something that many people don't seem to consider, as they relate everything to the dollar, rather than the Hive they receive. For those that hold, every increase in price backdates to every thing they earned earlier. It is like cost averaging a buy price on tokens, except on the upside.
With a big "if" - If Hive stays at the current 80 cent mark, it will mean that the coming payouts will increase in value dramatically as the 3.5 day price average calculated on the chain (and currently sits at 51 cents) - will move up 63%
Just wait for when it goes another 300% up to 2.50 and then another 400% to 10 dollars toward the end of the year. Will you still be holding your tokens earned when it was 11 cents? Will the value of your posts in early January be worth 100x what they were? Will those insignificant curation returns that no one cares about, still be considered insignificant? Will you be able to keep up with all the content creators that kind of price will attract?
Over the last weeks I have written several times about how fast price can change and how it changes the dynamics of the community itself. Some people who have been around a while know exactly what I have meant - some are yet to see it for themselves.
[ Gen1: Hive ]