Nobody seems to talk about this but it's incredible...
and it is that we are doing something right when the price of HIVE versus BITCOIN holds so well or even improves during this long and tedious bear market that we are having.
On the daily chart I would dare to say that HIVE has an UPWARD trend versus BTC, don't you think?
Some still think that we can see HIVE again below 0.30$ to be able to buy "cheap"...
Today HIVE is trading for 2649 Satoshis... let's remember that its lowest HIVE price was reached at the end of 2020 touching 303 Sats per HIVE or $0.10 per HIVE.
Today, there are only two main ways for our beloved HIVE to reach a value below $0.30:
- May HIVE drop to 1529 Sats or...
- BITCOIN crashes to $11,000
Then, there would be other more remote and complicated options like the mixture of the previous two for example... which would imply that both assets are sold at the same time, BTC with respect to Dollar and HIVE for BTC...
Or it could also be the case in which BITCOIN decides that the BEAR market is over and everyone starts buying BTC like crazy again, including many HIVE holders who would not want to miss out on the FOMO and, thus, they would start selling HIVE to buy BTC...
These last two options seem to me quite unlikely to happen yet with what we have left the two main ones as probable reasons to see HIVE below 0.30$ again...
Regarding HIVE falling to 1529 Sats, this would mean a drop of 42%.
BITCOIN falling to $11,000 would also mean a 42% drop in the price of BTC vs $ and, as a consequence, a drop in the price of HIVE below $0.3
I see HIVE quite strong and BTC still quite weak... In my opinion, there is still a high probability that BTC will go down to $15000 or so but I don't see HIVE devaluing enough to lose its price in satoshis...
In short, $0.50 seems like a good price for all the potential and opportunities that HIVE offers, much more so if we count the multiple ways of generating income that this blockchain has and that few from outside this ecosystem seem to recognize... or maybe not, and what we are beginning to experience is that some are "discovering" HIVE beyond the Korean pumps and, perhaps, we are getting more attention now?
What is your opinion?