From a user's point of view, I can only find negative side effects from this endless dive of the Hive token, and one, just one positive. And that's because everything is correlated to HIVE's price...even things that...shouldn't have, like peoples passion, or mentality.
Most likely you have noticed how your upvote value has gone down significantly.
That's because the median feed price (the last 3.5 day average - the way blockchain calculates price) is at 12.2 cents. Expect it to go further down the next 36 hours ~ 11.7 cents.
Smaller upvote value = lesser potential author rewards for the author assuming that the exact same curators upvoted their post a month ago / today and haven't powered up their accounts. That means that less HBD is being printed, which isn't exactly a bad thing, but many authors especially full time bloggers and people trying to make a living off of Hive are having a hard time...
Why should I care? I don't really, but at the same time I do too. Trying to make a living off of Hive is really risky and dangerous...Living off of Hive is probably 99% of the peoples dream around here.
But you see these people will need to find solution to their "problem" aka a new source of income. That's why most of you often look at your page feed and after 30 seconds of scrolling down your feed you're already at "yesterday's news."
They feel that their time and effort worth something more than what they are currently earning. That's exactly what I call wrong mentality.
Sad but it is what it is...
A look at the trending page is all it takes...half of the posts sitting there is because of Haejin / Ranchorelaxo votes...Good thing for the authors at least.
Another sad fact is that there's not the slightest indication that this dive we are experiencing since...forever, is going to change any time soon.
Charts are often useless and those who claim that they can predict what the market will do next probably lie. But in this case... It's been weeks that Hive is going down, like really down both dollar and Satoshi wise. Worst combination ever...
All one will see it they have a look at this chart is Hive making lower lows and lower highs...and it's like that for weeks. A few hours ago Hive went as low as 769 Sats. Nuff said....
From an investor's point of view...
On the bright side of things...have a look at this chart once again...
There was a time I kept buying Hive like a maniac. Whenever I had spare money I used to buy Hive whether it was $10 or $1000. I didn't care about the price. I simply filled the first sell order. Ya, committed a man with a mission. That was until I crossed the 50K HP mark. Since then I promised myself not to buy again and simply let my account grow naturally.
But Hive has entered a really really attractive zone, one that could arm my hand once again.
People put the blame for Hive's dive on BTC's rally, but it's more than that. At least that's what @penguinpablo's stats indicate.
But price WILL recover at some point....
So there you have it guys, if you still think that Hive's potential will be reflected on its price too, then maybe, just maybe, a great buying opportunity is right before your eyes...
Remember back in 2018 when this place was overcrowded?
I have a feeling that sooner or later we'll remember this feeling...