HIVE Market Sentiment: Where is the bottom?
Ahhhhh! how I miss those good times.
Do you remember when STEEM (now HIVE) was priced 7 cents?
Do you remember what happened some months after that All time Low?
Personally, I have lost all my faith on seeing again our most precious token reaching 8 USD per unit...sorry for my negative message here but such amount of tokens in the exchanges is something we did not see in the old times...when STEEM, now HIVE, was ranked among the 30 first crypto projects if not better
Probably HIVE is a much better blockchain now than then, we have been able to do impressive things here but we are still invisible.
I recognize that I am really frustrated with HIVE nowadays. HIVE keeps tanking even when BITCOIN and the Market raises. And when the Market goes down, HIVE goes even lower...
I still have the feeling that the "bottom of the pit" is still lower, hopefully I am wrong.
According to COINGECKO's question "How do you feel about Hive today?", seems the sentiment has a trend towards the "Bad" feeling...totally understandable...
The HIVE chart does not provide any hint about the possible grounds despite today HIVE has reached the oversold line condition on the daily RSI indicator...
According to this, and taking into account last time RSI went deeper that line , by the end of June, HIVE should now fall lower, being 0.09 USD a similar level in proportion.
So, I am betting "positively" for 0.09 USD as the lowest ground on which HIVE has to rebound upwards...
Does it make sense to you? What's your bet? Where is the bottom?
- 0.12 USD is the bottom, the Bottom is IN
- 0.11 USD is a good level
- 0.10 USD is the psychological number for many awaiting buyers
- 0.09 USD the RSI indicator never lies :-)
- No way, the bottom is "0"
Answer the question at dpoll.xyz.
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in the graph of the big exchanges like huobi, binance and bittrex it shows that it has already touched bottom, although I think that in the next days it could fall to 10 cents if the btc continues correcting, I think that the btc will touch the support of 12400$ and from there it will begin again to rise with all the altcoins.
The problem of hive is still inflation, while we have this terrible inflation is going to happen to us the same as the steem and of course the problems with the HF24 the last weeks and the fact that the wallets of the exchanges lasted more than 2 weeks offline this hurt us a lot and the volume has been the lowest since birth hive.
We don't have any new investors that is another problem, people don't trust this blockchain despite its potential and I think they would like to invest more in a token like LEO because it has a good roadmap and its team makes good decisions.
However during all these months hive has shown that it is a very volatile currency, its falls are very strong but it recovers easily which is attractive for many traders, that is a point in favor of hive that while investing little you can pump easy
And the RSI is not wrong, at any moment the trend can change
Good exposition of the facts, thanks.
The only thing I'm not sure is that I don't think the disabling of the exchanges withdrawals has had a role on the price. Actually, It help HIVE to not increasing the amount of tokens there.
I think that if it affected a little, because if you have coins in the exchanges and you want to turn on hivepower you can't because you have them withheld and likewise you can't deposit in the exchanges to pump, that's why the volume decreased a lot. Although I still think that the buyers are concentrated on btc and after the btc reaches its peak, the altcoin season starts as it happened at the end of 2017
Btw, I see you are an specialist about semiconductors, I am an specialist of superconductors... let me follow you ;-)
If I am a physicist specializing in the area of semiconductor compounds, I came to steem publishing scientific content and am a member of the board of the scientific community STEMsocial previously steemSTEM. I have not published scientific content for a long time, maybe in the near future when I feel a little more motivated I will do it again, for now I am totally dedicated to trading :)
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But my bids are at $0.10. 😂
@toofasteddie, you mentioned > such amount of tokens in the exchanges is something we did not see in the old times
Hey, man! I have over 5K HIVE on Huobi exchange, want to withdraw it and power up, but I cannot! Huobi doesn't let us withdraw our tokens. This is really disgusting.
Also I bought over 500 HIVE on @Probit exchange, initiated a withdrawal, but they didn't proceed it. It is 'pending' now for almost a week. I wrote a ticket to them and they don't answer. So keep in mind that many exchanges don't let users withdraw their HIVE.
To be honest I am very angry about it. And will put those exchanges on my blacklist. Because I need my HIVE and I want to power up!
I will be very happy if the HIVE community unites, make some noise about it in Twitter and other social media in order to remove the thirany of those exchanges over our HIVE tokens.
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It is usual exchanges temporary cancel withdrawals and deposites for some time when a Hardfork occurs. Be patience.
@toofasteddie, they stopped the withdrawals on September 16th. It's been month and a half since then. It's too long. Bittrex, Binance and all other exchanges have open the withdrawals before 10 and more days.
I understand, it's painful
I've noticed that when coins are doing bad on coingeko sooner than later they rebound. It's really odd what's happening with HIVE though.
That "effect" does not apply with HIVE, apparently ;-)
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This looks like capitulation to me. Long term stakeholders should not worry, rather they should celebrate the exit of weak hands and non-believers.
I think it has to stop soon but won't be the bottom for long. I still am hoping for HIVE to at least hit back up to 25 cents USD by early December and more early next year.
Just a matter of people buying up huge amounts with these low prices, then holding and seeing more people get into it, including projects becoming even bigger.
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Let's see, 25 Cents is not a bad deal.
Double what it is now, also a good price if you need to sell some for extra cash into savings or to live off etc.
$0.25 would be very good, but man has the price fallen quite considerably, it's gotten to a point where I may invest in some tokens.
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Currently it is better just buying HIVE and holding for a price rise, or chucking into tokens to buy even more since you get more HIVE at the price it's at.
I thought I was the only one pessimistic towards this platform of late... We're here for it though, whether the bottom is yet to be reached or not, time will certainly reveal
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I don't think we will see a strong increase in the hive price in the near future.