So we have hit another low, and for what it is worth, I would like to join the "we are dead and going to zero" rant. So Hive did not hold 25 cents and instead dropped to 21 cents, and the guns are coming out. Oh, I "should have sold at 30 cents" and "oh, this Blockchain is the worst ever".
I have already read a dozen posts containing these FUD phrases, and it is time for me to join. I am not going to downplay the negativity out there.
The market is bearish, despite the fact that we appear to have exited the bearish range. It is even more annoying that BTC appears to be holding the line fairly well. Despite all of its dips, it remains in a very good position. It is surprising; by now, many people believe that the alts should be joining the party, but this is where we are.
I believe that people who have been holding since 2017 will feel betrayed by the market, and if they did not take profits during the last bull run, the consequences will be even harsher. I do not think it is time to complain; I understand that fear and emotions are driving people, and even if we did not expect such a drop, the overall market is not doing so well. It is also easier to say, "Do not worry, we will recover," but at this point, everyone is or should be responsible for their emotions and whatever they choose to feel at the time.
I have personally refrained from commenting on doomsday posts because I understand what these people are going through; it is not like I have not felt it myself, and simply sitting down and looking at the dollar value of your stash can be depressing.
However, one of the reasons I always preach discipline is that Hive is a unique place. People who persevere in the face of adversity are highly valued by stakeholders. I have seen people rewarded for loyalty and shunned for disloyalty. One might argue that it is a crude method of operation, but loyalty is what keeps a project going.
Price Actions Negates Loyalty
There are people who made Hive a possibility, and if these people had simply liased or kissed Justin Sun's feet, we would not have what we have now. Many people prioritize the token's price over everything else. Some may have argued that it would have been better to morph with Tron. However, this is what we do.
When things do not go our way, we tend to believe that the grass is greener on the other side
As for the price, I am not sure if we have bottomed out, and I do not want to sit here and say that the previous cycle followed similar patterns, bottoming out at 9 cents and peaking at 3.4$. Even though patterns are strong indicators, each market is unique. This market is unique, and if you want to panic, I believe you have the right to. If you want to rage quit, that is entirely up to you. I am not going to give any assurances.
The Dip Here Is Known To Be Brutal
I was here during the 2018 and 2019 dips, as well as the 2021 lows, before the market recovered, and the experience was similar. I know a lot of people who quit because of the continuous bearish trend; it was brutal, but they had every right to.
True, Hive still needs to mature.
From the design of the DHF to the implementation of the marketing proposal. I understand. I find it difficult to vote on the bogus proposals. The most recent proposal I voted on was made by this BRO token man. I thought it was good, and the majority of people agreed.
In other words, we have a lot of work to do, but we must remember that Hive's democratic nature makes these tasks take longer to complete.
In Conclusion
Finally, we could go as low as 18 cents; I believe we will just hit bottom there. I still believe Hive has the potential to cook in the upcoming run. I will not make any predictions or assurances.
I just know we will recover when the time comes, and everyone has the responsibility to do whatever they want to alleviate their fears and emotions.
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
