BEE is the token you need when you want to create a new tribe or new tokens.
If you belong to the category who are thinking about of kickstarting new tribe or token, should you buy some BEE and hodl them? Or should you buy them when you need them?
Based on past price history taken from the Hive-Engine API, it seems like a bad idea to hodl them.
The chart above shows that:
- HIVE and BEE prices are pretty well-correlated. That is, they rise and fall together, often.
- There are occasions that BEE outperformed HIVE, but very rarely.
- The recent spike in HIVE price did not bring BEE up in the same magnitude.
- But, the magnitude of the correction thereafter is somewhat similar.
So in short, someone who needs to pay for services in BEE would do better if they buy when they need it. Not earlier.
The likelihood of BEE outperforming HIVE is rare, but the underperformance is likely more pronounced.
That is, based on past price trajectories.
P/S: This is not financial advice. The data provided/displayed could be faulty and are at best approximates.