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Hive Pump - Did you book your profits or buy more Hive?
Today was indeed a great day for Hive and the Hive community members. We all know that the price of Hive is so undervalued inspite of so many opportunities we have in the Hive ecosystem. Recently the game Splinterlands also had a serious pump and reached almost 100k players playing the game. That's one great achievement and all the more reason why Hive is still an undervalued cryptocurrency.
Today morning I woke up to see the price of the Hive and HBD pump. HBD was supposed to be soft pegged to 1$ and if it goes high or goes low, it is supposed to auto-adjust. But though we have a mechanism built in the chain itself to balance the price, market manipulations also play a vital role in the price of HBD. There are a few exchanges in which HBD is listed and there is also an internal market on Hive where people can swap between Hive and HBD.
Many people have been thinking about booking profits at the current market trend which is good. Those who have seen Hive sit at 12 cents during the bear market will understand why it is important to book profits when we see the price go above 50 cents. I know a few people who bought hive when the price was below 30 cents and they could book their profits.
I did not have any liquid Hive right now with me. I have swapped them already for stable coins and I have a lot of stable coins sitting in my account right now when I cannot use now because the market is looking bullish. I will hold them till the next bear market and purchase Hive when the price goes down. But it is quite unlikely that the price can go down again. But yeah nothing is predictable in the crypto markets.
For people who have a good amount of liquid Hive in hand, this can be a good opportunity to sell their Hive and buy them back when the price goes down. But that can be a huge risk as well.
Many people think that this is a great opportunity to buy more Hive. We are able to see that Splinterlands has reached 100k players right now and it is very likely that some of these players can become strong investors. When they become an investor, the value of Hive would pump just like that. I already had many people asking me in the last few weeks about investing in Hive. Those are the ones who came to know about Hive because of splinterlands. They started playing splinterlands and have started looking at other opportunities as well on Hive blockchain.
I guess the same can happen when we get more projects on Hive. Who knows in 5 years down the line, the price of Hive can even be at 5$ or 10$ or even more than that. People who are investing today are the ones thinking about reaping their profits after 5 years when everything goes up. That can be a good strategy too.