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Massive Hive Pump and I reached my goal of 25k Hive
Today I woke up to see this massive pump happening. I was able to witness only when the price was around 1.3 USD. It was continuously fluctuating and there were lots of buys and sell happening in the market. I guess this is a new All-Time High for Hive and another interesting thing is that the price stayed above 1.3$ for a very long time.
The price is still good and above 1$ which is a great thing. I hope it creates a new base price soon. If all goes well, I believe that Hive shouldn't go below 50 cents going forward. Mostly there will be a huge buying pressure at 50 cents now. I know a few people who are already buying Hive at 50 cents. I also purchased it for my friends when it was 50 cents. I just made a small mistake by keeping an HBD buy order at 80 cents. I forgot about it and during this pump, the buy order was filled. But that's okay anyways it was not a loss or a profit. But if I had placed the order for around 1$ it would have been great.
Nobody knows that could be the reason for this pump. It appears that there is no good news announced or a big project launch announcement. Still, the price is very strong and the trading volume is heavy. I was able to sell a little Hive when the price was around 1.2$. When I was trying to sell, there was a huge fluctuation in the price. Many people were trying to trade I believe.
In spite of having a huge selling pressure, the price of Hive stayed above 1$ for a very long time. It is still strong but I don't think it will stay above 1$ forever. People will still try to sell it above 1$. The main reason is that most of them would have bought it real cheap and would like to book some profit. One good thing about staking is that when we see opportunities like this, people cannot dump so much in the market because most of them would have it staked.
The price of HBD is also looking good. Whenever a pump happens in general in the crypto market and also on Hive, the price of HBD will also look good. From 92 cents it has now recovered to 97 cents. The internal market usually has very little liquidity and that is one of the reasons why the fluctuations are huge. I have done some good trades and at the same time, I have also made some bad trades because of poor liquidity in the internal market. I wouldn't say it was bad trade but a missed opportunity.
Yeah, the final thing that I wanted to specify in this article was that today I also reached 25k Hive Power which was my goal for this year. I'm not going to start a new goal for now and just going to keep doing what I'm doing right now. Maybe I will think about my next goal towards the end of the weekend. But I'm glad that I was able to reach this goal in spite of investing in other projects as well.