I have to admit that witnessing HIVE performing the way it does and climbing the rankings with huge jumps instead of the traditional step by step method, was enough to make me act like a schoolboy and even lose my sleep the last couple of days.
For the first time in this 26 month crypto journey of mine, I spent more time watching charts and Hive's price action at the exchanges than reading posts, commenting and curating on Hive. Way more time...
But I couldn't help it...Last time I've witnessed something similar was 2+ years ago during that glorious bull run, where everything was skyrocketing. But it's not the same...back then my only crypto holdings were those 15 delegated Steem tokens from Steemit. No BTC...no ETH...no Steem...no Hive, nothing. Just that.
Yet, I stumbled upon a few posts from people who expressed their concerns regarding this pump. Some of them called it trade washing while others are prepared for a huge correction sooner rather than later. Well, if you've read @HuobiGlobal's announcement to celebrate the listing of Hive, then you shouldn't be worried.
And that's because there's this initiative running from 23rd - 28th of April where:
Top 100 HIVE Net Deposit users with HIVE Net Deposit Volume > 5,000 HIVE during promotion period can each receive 1,000 HIVE.
1000 HIVE at the moment is worth ~ $400...And it is exactly the reason why 80%+ of the total volume is recorded at Huobi. And I have a feeling that since this promotional period ends on the 28th, people will keep trading back and forth for a chance to win those 1000 Hive. Which probably mean...that any correction will come past that time...Hey, just my thoughts here...don't take anything for granted, ya hear me?
Every action has an equal and opposite reaction...
...but you knew that already eh? Just in case you didn't let me show you something. The screenshot below, is how the blockchain "calculates" the median / feed price.
screenshot taken from hive-now.com
Feed price = HIVE's average price for the last 3.5 days.
Right now the feed price is approximately 18 cents / HIVE. That's about 15% more compared to yesterday's price. And the reason why your upvote value is also 15% higher compared to 24 hours ago.
It's actually a bit more complicated than that since blockchain reads vests but let's just don't make things more complicated. So, within the next 24 hours the feed price will be ~ 2x what it is now...and so will our upvote values. Isn't that great? Well you tell me...
Double the price...half the rewards.
Right now the HBD debt ratio is < 9% . Which means that no more liquid HIVE rewards for you. Ha! Instead, HBD is being printed as it should. I'd say the blockchain is working like a charm.
But also, there will be a halving on all your rewards. Both author and curation rewards.
You'll earn less HIVE from now on but those tokens will be worth 2x - 3x. In other words HIVE's price is bound to our rewards.
Think of it as the BTC halving which by the way is in 17 days.
I know that witnessing HIVE sitting among the top 50 coins is a great achievement already, but the real question is...
...did you have the time to build your account the way you wanted to?
Are you satisfied with what you are holding if the price never looks back?
Are you hoping for a new dive before we take off?
Let's talk about it.