The price of Hive jumped to six cents yesterday. It was selling for around six cents on Binance, but on the internal market of the blockchain, it was selling for about five cents. I took the opportunity to sell some of the Hive in my account to enjoy the arbitrage trade, and nothing more. The people most excited about the significant price increase have been building the platform for a long time. It reminds me of raising a child; when they are small, it can be difficult, but as they grow up and see the kind of individuals they become, you start to appreciate and take pride in what they've done. That was the joy I experienced yesterday.
Everyone was happy when the price of Hive started to rise, but this increase meant different things to different people on the blockchain. For someone who posts for a living on Hive, it holds one importance, while for long-time investors, it represents something entirely different. Similarly, a big investor or whale in the community will have their own perspective on this price increase. For me, seeing the price gain momentum was a relief because it indicated that my efforts were not in vain. It gave me hope that I might be able to reap the rewards of my hard work in the future. I understand that the price increase is meaningful in various ways to many people, but for me, it served as a sign of reassurance.
Does this stop me from building
I want to explain my commitment to building my stake in Hive. Even if the price reaches $10 today, making it more expensive for me to purchase, I will continue to invest. While this might alter my plans or require a different approach, it doesn’t mean I will abandon my future with Hive. Building something valuable like Hive is a commitment; I have no intention of destroying that investment. Many people make the mistake of thinking that when prices rise, they should stop investing because they feel they missed out on lower prices. However, dollar-cost averaging is a valuable strategy that I believe in.
Many investors choose to invest gradually because they understand that the prices of the assets they are purchasing can fluctuate. Some investors buy monthly, others weekly, and some even yearly. This strategy of purchasing at regular intervals is known as dollar-cost averaging, which allows them to buy regardless of whether the price is high or low. In my case, when the price of Hive was low, I did not use the dollar-cost averaging technique. However, now that the price of Hive has risen, I plan to adopt this approach to continue building my assets on the blockchain.
Our goals determine how we see things
One of the most important factors in buying or selling is having a clear goal. My future goal is to accumulate over 200,000 Hive. I recognize that I am quite far from that target, as I'm not even at 100,000 Hive yet. If my goal were simply to sell quickly, then buying Hive at this price wouldn't make sense. Instead, I aim to earn as much Hive as possible, which means I need to purchase more. I believe that dollar-cost averaging at this point is a reasonable strategy. I just need to commit to buying a specific amount each month.
If your objective is to keep building, then buying Hive at any price won't matter because you know you are in it for the long time. In this case, your profits will be locked away for a long time, so the purchase price is less significant. Conversely, if you're looking for quick profits, you'll need to consider these factors more critically, as the potential gains in a short period will become your top priority. Hive is very important, and it is something we should all consider at some point in our lives because it can be quite lucrative.
thanks for your time.
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Thanks for the support to my posts Dwayne! Really appreciated 😊
Thank you too for the support❤️
Six cents?
Internal market was showing low because internal market prices are in HBD and HBD price is > $1.
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If I had sold my hive in the internal market I could have got $91 worth of HBd but I sold on Binance instead for 105$
I think having a long term approach with Hive will pay off handsomely in the future. Besides the price of the token, there are other ways to grow and compound our investment to generate returns. Investing in Hive engine projects is a good example.
Yes bro, think hive because it is worth every penny
The price has been up and down before xmas. I believe its a sign of traders taking leverage from the profit being invested trading hive for usdt. It might fall back soon or not who knows