The price of BLURT has been strong lately - even beating BTC and the other altcoins. One token doing particularly poorly is HIVE, especially over the last 2 weeks. Are HIVE owners selling to buy BLURT?
This shows the price changes of Bitcoin (yellow), BLURT (red), HIVE (green), and everything else (blue) over the past month.
Separately:
Notice that Bitcoin surged to a new all-time high (123,000 USD) a few weeks ago, but has consolidated and retraced slightly since, while the altcoins lagged at first and then did better.
Here's just Bitcoin and the altcoin market:
BTC appears to be rotating into the altcoins, something seen in previous alt-seasons. (Alt-season tends to be the final few months of the 4 year crypto bull market, often taking place between August and January.)
But some altcoins are doing better than others...
Yikes! HIVE was following along with BLURT and the rest of the altcoins, but 2 weeks ago (23 July) it seems to have transformed into a dumpster and become engulfed in flames. HIVE is actually one of the only altcoins to be down over the past month!
So BLURT's doing really well in the past week or two, and HIVE is one of the worst performers over the same time period... hmmm...
Could HIVE be rotating into BLURT, something many have predicted could eventually happen, as part of a 'capitulation' from a downvote-cabal-infested chain to its healthy and stable sibling?
We can investigate closer by viewing BLURT priced in HIVE:
Wow, that is quite the steady draining of capital from HIVE into BLURT, especially in the past 8 days or so! A lot of users are logging into hive-engine.com and buying BLURT with their HIVE.
But this didn't start in the few weeks...
Also...
3 months ago HIVE was 0.24 USD, and today it is 0.21 USD.
3 months ago BLURT was .0021 USD, and today it is .0024 USD.
BLURT has even steadily gained on HIVE over the past 12 months. On all recent timeframes, HIVE is losing ground to BLURT, and the trend is accelerating.
Hive is the oldest sibling, which many believed destined it to inherit the Steem kingdom. But Blurt has shown itself to be just as capable as Hive, and far more viable. More and more users are noticing it, and making the switch.
The beauty of it? The downvote cabal has no power to stop it. They've got big stake on HIVE, but their victims are taking their money elsewhere and refusing the play that rigged and censored game. They could use their funds to buy BLURT, but they couldn't use that to mess with other people here, at least not in the disgusting and direct way they can on HIVE. So they're stuck on their chain, wielding their big downvote stick over anyone stupid enough to create an account there. They're already starting to turn on each other. Things are crumbling in the LEO world. Things are crumbling in the 3Speak world. Things are crumbling in the tribal pools.
Their token is being held together by duct tape right now. It's on life support. It wouldn't take much right now to see a really huge and sudden drop in HIVE's price, unraveling all sorts of positions and triggering sell orders. When the average guy wakes up and notices, the price will plunge further. Where will a lot of it be going? To the chain people are already familiar with, that has proven itself for 5 years and more, that doesn't have a cabal of desperate downvoting pigs. The blockchain blogging community moved once before, when Steemit was bought out and corrupted. It can move again... and some of it already has.
Quietly gaining both nominally and against the rest of the altcoins, BLURT is poised to spike back to levels seen regularly 4 years ago. And if HIVE keeps rotating into BLURT the way it has been, that old record of 5 cents could easily be taken out. Who knows? Before too long, BLURT could be where HIVE was 4 years ago... more than a buck each.
One thing is pretty sure, looking at these data presented... HIVE is extremely weak lately, and getting weaker all the time. BLURT has held strong through its bear market and has started making steady gains as alt-season comes on. BLURT priced in HIVE is constantly making new highs. New Blurt users show up every day, having been downvoted off Hive for no good reason, and Blurt is even generating buzz on various traditional social media sites.
Be ready for anything over the next few months!
DRutter
