I don't know for what reason these pumps are happening but today there was a massive pump to the price of HBD. It was indeed a great opportunity to see HBD's price go over 20 to 30% more than its usual price. A few weeks back we had a similar pump that took the price of Hive from 40 cents to 60 cents and now there is again another HBD pump but this time I'm thinking the price of Hive would settle around 65 cents maximum and won't go any further.
There is always sell pressure and for the market to perform beyond the selling pressure, there should be a huge number of buyers. As I always say, Hive is one of the underrated cryptocurrencies out there. The ecosystem is well structured and defined. It is just that there is not enough visibility outside yet. Some people are thinking that this is just a blogging platform but in reality, this is more than just a blogging platform. It is a framework on top of which any platform can be built and Splinterlands is one good example of that because they built a gaming ecosystem on top of Hive.
Today's HBD pump gave a good opportunity for people who had enough liquid HBD. At one point in time when the price of HBD was around 1.3$, it was a good time to purchase Hive in the internal market. But from what I saw the price in the internal market for Hive did not go below 45 cents. I had a buy order placed there long back for 45 cents and it was not filled up. That's when I realized that when there was more buying pressure, there was also a huge selling pressure that stabilized the price.
I'm thinking it would have been a very good moment for the HBD stabilizer to stabilize a little bit. I still feel that it works really well. When there is a huge bear market when most of the popular cryptocurrencies get affected, our HBD stays intact. But when there is a huge HBD pump, it really takes a lot of time for HBD to get back to its pegged value of 1$. I don't know if this is good or bad but it definitely gives some nice opportunity for traders to buy some Hive cheap and sell it off when the market has recovered. Maybe that can affect the price of Hive a little bit but as long as the time is right, this can only do good and no harm.
I keep saying that I should be having some liquid funds to make use of opportunities like these. But as today was not a Hive pump, I did not care much but I did swap some of the HBD I had with me. I also took the opportunity to pay some of my bills today so that when the value of HBD heals back, I would have already paid my bills for a better price. The price of HBD is calculated by Privex using Bittrex price so it is usually different than what we see in Coingecko. So if we pay our bill at the right moment, it would be really nice for us.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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