Hive is on a correction mode after printing a big green candle. If you have been observing its price then you already know that Hive price pumped more than 20% recently. Now the pump is over and Hive is back trading in the range of 30 cents which has been the stable price zone for our beloved $HIVE.
Hive is not only one coin observing correction, we have Bitcoin and altcoins also in red today. While Hive pumped alone recently when rest of the market was in the red zone. It was a good move from $HIVE but i was expecting more price increase which didnt happen.
The reason behind it could be the Bitcoin price action as it is stuck in the range if $60k. Altcoins are not moving up because of Bitcoin not leaving the current zone. In order to move altcoins upward Bitcoin needs to break the resistance level and should trade above $70k.
I am not sure that how you see the market but i am sure that we all have a common wish which is to see our bags pumping hard, atleast the ones we hold. If you are a true cryptocurrency enthusiast then you must be holding Bitcoin as it is the biggest bet we all have in the crypto.
We all trust Bitcoin more than any other cryptocurrency. There is a solid reason which is its strong fundamentals. The above all it has a fixed supply of 21 million which means that there will never be more of it. No one can print more Bitcoin. And from these 21 million some are already lost which means some people forgot the keys in which they hold their Bitcoin.
There is another thing which we all have observed about bitcoin which is that it always recovers back no matter how low it drops. This can be seen if we see its historical price. Bitcoin has recovered back above $70k after dropping to $20k. While some of the coins never recovered. This clearly shows that why we all do trust Bitcoin. It is known king for a reason.
Look into your portfolio and see you must be holding some coins that you bought few hours ago but they never recovered till now. I am holding also a few coins that i bought few years back and they never recovered to the original price. Some of these coins have become dust because of the developers rug pull.
There is a lesson here which we need to learn that we should have proper research before buying an asset. Make sure that the team is a well recognized and have a strong vision. Do not buy a token without a usecase, if you do buy a coin without usecase then it will be dead in no time. Some coins only survive for short term through the paid promotion. Male sure you are buying some legit and organic assets which are not shilled by the paid influencers.
Thats it for today. Thanks for reading. What do you think about my today's topic? Let me know your thoughts in comment section. In the end i would like to Wish you and your family a happy day ahead. Stay Blessed.
Motivation Dose
Get out of your comfort zone and fight the troubles and hurdles that come your way to success. Success awaits you. Life is beautiful ، live it to the fullest. Dont be hopeless. Stand strong in the ups and downs of life as its part of life. There is always a light behind every dark side.
About Author
@coolguy222 is a crypto trader and content creator on hive blockchain. He also runs a small business of Mobile accessories and Wrist watches. He loves to make new friends.