Good day Hiveians!
Join me in analyzing the crypto markets!
Ever since the change in its fractal last month, it's been an upward trend for Hive.
We talked about this a bit more detailed here if you are interested. And here is a recap of the graph showing the change (notice the last oval).
The bottom was around 10-11 cents which we actually predicted in October (!).
There is an upward pointing channel in which price has been moving for the last couple of weeks and it is reasonable to assume that price will stay in that range which means that we a low of 15 cents is coming up. However, let's not forget that we almost reached 18 cents today! A particularly good sign is that volume is up by a lot which would indicate a sustainable trend.
How does Hive compare with Steem? For some days it looked like we would actually get close as you can see below (the scales on the next chart are different for each token, Hive is in orange). What strikes me immediately, is that prices have been moving almost in an identical fashion. There is essentially no difference. What this means to me is that we haven't been able to shake off the past and that traders are viewing these two blockchains similarly. I hope that this will change soon and with the ongoing developments here it shouldn't be too long until people realize that Hive =/ Steem!
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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