As the price of Hive hit 1$, there was a huge selling pressure and I think that is what brought the price as low as 70 cents after that. This is what makes me feel that the current price is also a good opportunity to book some profit. Later we can also buy back if the price goes down again.
I'm still optimistic about Hive but there I don't want to miss this opportunity to book profit. Last year when hive hit 1$, I did not have any liquid funds to sell and book profit. Then after that, we all know that the price came down to as low as 11 cents. I'm glad that I was able to purchase some Hive when the price was around 15 cents. Today if I sell at the current price or after it hits 1 dollar, it will be a good profit for me.
All the funds are locked as Hive power
This is the situation for most people. We all have it as Hive power and cannot take it out to book profits. I know for a fact that most of the people would not even be interested in power down and book profit because we all need that stake to earn further Hive here through curation.
I'm not planning to power down anytime soon and book any profits. Right now I might sell a little liquid that I have to take out the profit but I will not be powered down to get some liquid hive.
The nature of Hive itself is in such a way that half of the rewards goes to the stake and the remaining half is available liquid for us to cash out if we want.
What if Hive goes back to 11 cents again?
It is more unlikely that something like that could happen. Even in the toughest market, Hive was performing very well. So everyone is expecting that the new base price for Hive would not go below 50 cents. The last time when Hive hit 1$, nobody would have expected the price would go down and reach 11 cents again.
Those who used that opportunity and purchased some Hive at that price would be very happy now. So in my opinion, we cannot think that Hive will stay over 1$ forever. What if in the 5% possibility where the price goes back to 20 cents and stays there for a while. That is the reason why I think that booking a small profit now at this price would be good because we shouldn't be having a nail-biting moment in the future.
I'm not saying that we can sell 50 percent of our stake but at least for the sake of this opportunity, we can sell a small portion of liquid Hive if we have any and make sure we have utilized this opportunity. I know a few people who already sold a few Hive when the price hit 1$ and bought it back again when the price came down. That is also one strategy that can be followed.
Many whales on Hive have also started recommending this. The reason is that we have been waiting for this for almost over 3 years for the price to be good like this to book some profits. I believe a few whales have also booked their profits and will be booking profits if the price goes up again.
On a final note, I'm not asking people to cash out all their Hive using this opportunity. For a person like me who invested in Steem when the price was over 5$, booking profit had never been the case, in my personal opinion, I would like to taste it and that too only after the price is stable beyond 1 dollar.
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