Hive wants to break out of 30 cents

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Avatar for bala41288
1 year ago

I think have has already out of 30 cents and it is following the BTC trend now. BTC is the master coin in the crypto world and it will always have its reputation even if there are thousands of other coins emerging now and then. The reason for the success of BTC is also simplicity. It was very simple but later people added many new features on top of the BTC chain as a second layer sidechain. For the past few days, the entire crypto market is showing some good signs. Not just Hive but BTC is also trying to make some moves. People who had invested when the price was around 16k are the lucky ones I would say and I also doubt if BTC would again fall back to 16k dollars.

There are so many other coins that are positive right now in the market. I don't know if it is still the right time to invest but I would say that the price of most of the coins is still impressive and when BTC decides to cross 20k, most of the altcoins would follow. Most of my holdings are all in Hive and inside Hive Ecosystem. There are also some great opportunities for trading inside the Hive ecosystem as well. I thought I should purchase some more Hive when the price is low but I already did some swing trades and moved my HBD to savings.

I do have some liquid Hive in hand and hoping to exchange them for HBD when the price hits 50 cents. I guess it can take some time for Hive to reach 50 cents but there is a high possibility that Hive can show a sudden pump. Unlike other coins, the market and trend for Hive are unpredictable and one fine day there would be a huge pump in the price of Hive. People may not have liquid Hive in hand at that moment to book some profits.

If we look at the Hive chart, we are able to see that the spike is pretty decent and stable. In the last 7 days, the price of Hive has increased from 26 cents to 30 cents. Yesterday I was thinking if there would be a possibility for Hive to break out of 30 cents but now it is shining bright at 31 cents. As long as BTC stays stable, I'm sure the price of Hive would recover back and reach 50 cents probably. Maybe this can also be a last chance for us to see the price of Hive in the 30 cents mark. I used to worry a lot for now buying Hive when the price was 50 cents last year. But now the price is 30 cents and I'm not taking this seriously. Well, I did buy enough already and powered up last year. All I want now is a peaceful 1 dollar Hive so that I can sell off my holdings and focus on booking profit.

Profit booking is also an important thing that we have to notice right now. I'm writing this article only after seeing the price of Hive sustaining at around 30 dollars for 3 consecutive days. I'm glad that I did sell some Hive already for 30 cents which I bought when the price was around 28 cents. It was a good swing trade. If the price goes back to 26 cents again, I would be happy that I made a decent profit already and would also be interested to buy some more Hive for the next swing trade opportunity.

If you like what I'm doing on Hive, you can vote me as a witness with the links below.

Vote @balaz as a Hive Witness
Vote @kanibot as a Hive Engine Witness

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Avatar for bala41288
1 year ago