April 2023 update on whether HIVE crypto is a good investment and if now is the time to buy!
Spoiler alert: Yes, you should buy HIVE crypto now.
If you believed in Hive as a censorship-resistant, decentralised network before FTX drama crashed the markets, then why wouldn't you now?
Fundamentally from Hive's perspective, nothing has changed.
So with that in mind, Yes - HIVE crypto is considered a good investment through 2022 and into 2023!
In my opinion, HIVE crypto may just be the most undervalued coin and associated blockchain project in the entire industry.
Big call I know, but I’m standing by it.
While making investment decisions should always be entirely up to you and your own discretion, you will find me here every day practising what I preach.
That’s right, I’m actually putting my money where my mouth is.
Creating content, getting involved in the community, earning and continuing to invest in HIVE crypto.
With that little intro in mind, let’s now take a look at why I would consider HIVE crypto a good investment.
HIVE crypto returns to previous support
After an unsustainable, speculative pump above $3.00, the HIVE crypto price has now dropped all the way back to previous support.
While buying while times are good feels easier from an emotional point of view, it's actually the opposite of what you should be doing.
You need to take price pumps like this with a grain of salt.
I mean we’ve been here before, right?
HIVE does this.
The Koreans, oblivious to the true fundamental value behind HIVE crypto, coordinate pumps that look just like this.
The thing is, after the pumps, come the inevitable dumps.
But when price is dumping due to unrelated, macro issues in the wider crypto market - just like we're seeing here following the FTX exchange collapse - buying is the right move.
Like I said above, if you believed in the permissionless advantage that Hive has over other networks yesterday, then nothing has changed today.
But HIVE crypto.
The stats all point toward HIVE being a good investment
Whenever we see the price of HIVE move in either direction, it’s more often than not just moving in an algo driven correlation with our old friend STEEM.
Since the split, the market prices of each have been increasingly correlated.
But while prices may be correlated, the fundamentals of each chain couldn’t have diverted any further away from each other if they tried.
While Steem is now nothing more than Justin Sun’s personal database, Hive has become the go to blockchain for Web 3.0 dApp development.
Leading this charge and showing the potential in the Hive blockchain is of course Splinterlands.
As you can see from yesterday’s daily account creation stats, Splinterlands has changed the game for Hive as a whole.
You see, when you sign up for a Splinterlands account, you are actually signing up for a Hive blockchain account.
And in order to be able to interact with the Hive blockchain to play, you’re going to need the resource credits that come with Hive Power.
The result of this being HIVE being taken off exchanges like its going out of fashion.
When you combine the rate that both new accounts are being created and HIVE is being taken off exchanges, you have the perfect storm for a supply crunch.
With demand increasing and literally zero supply to fill that demand, price has only the one place to go.
Up.
Final call on whether you should invest in HIVE crypto
I’m going to stand by my call above that HIVE crypto could actually be the most undervalued coin and associated blockchain project in the entire industry.
With this in mind, then of course HIVE crypto is still a good investment in 2023.
If things do in fact continue to take off and run in huge multiples like we’ve seen other projects, then 2023 might just be your last chance.
And do you want to know the best thing about sharing my opinion around whether you should invest in HIVE crypto right here?
There’s not an affiliate link in sight.
No dodgy signature full of spammy links to exchanges or other blogging platforms.
Just clean content published exclusively to the Hive blockchain via the LeoFinance front-end.
Best of probabilities to you.
Direct from the desk of Dane Williams.
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