As you may have noticed, the price of HIVE has declined in the last few days, but this is just normal, so you don't have to worry about it.
Think about this: the price has skyrocketed almost 12x from 1150 sats to 12800 (satoshi) in a few days because of many reasons ( there was a trading competition on Huobi exchange, then we had the Binance listing and many other factors that have pushed the price so high, while the other coins were not moving at all.
Image source:
https://coinspectator.com/news/1326535/some-crypto-entertainment-while-waiting-for-the-bull-run
In my previous post, I have mentioned that the price of HIVE will face a retracement to the 5k zone and if the price will manage to hold this position, then we will see another big move up for HIVE.
Now, the price has reached the reload zone and this might be a good buy opportunity for us, but there is something else going on in the crypto space that could affect the price of altcoins.
Is the BTC halving will affect the HIVE price?
In my opinion, yes, it could affect the price of HIVE and the other cryptocurrencies as well, because, in the next 2 weeks, all the attention will be pointed towards BTC. If you are wondering why, it is because of the halving, which is a very important event in the crypto space and it might or might not affect the price of all altcoins, not just HIVE.
It will affect most pairs vs BTC, and I think that vs USD it will increase if the price of BTC will increase as well. So, if you want to trade you should focus on pairs vs USD or USDT.
My suggestion is to patiently wait until after the halving because most of the time, the price of BTC and other cryptocurrencies have moved up after the halving and not before.
What is the next move for HIVE price?
If the price of HIVE will manage to stay around these levels I have pointed out in the photo above, then we could see another big move up to the 17426 sats. This move up will be a projection in the future of the first move from the past. It is a powerful harmonic pattern AB=CD and it has a success rate on any time frames.
You can check the previous post here:
@the-future/hive-in-a-hyper-posh-mode-on-tradingview
If you have any suggestions, please feel free to leave a comment below.
#hive #posh #steemleo #crypto #leofinance #ocd #hivethrive