Whereas this is a nice surprise, I'm not holding my breath here. As usual, 80+% of the volume is coming from the Korean Upbit exchange, which is notorious automated market manipulations. Time will tell, I suppose... but hey, even if we just drop back to $0.50, we're still having a net gain of 20%!
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Everytime the market ticks green, UpBit traders pump hive. If this gets to $1 I think hive will settle in the 65-70 cents range. However, if the pump ends where we are then we'll mostly likely drop to 50 cents and then slowly bleed back to 40-45 cents range which is where Bitcoin keeps us.
Let's see how it goes...
It's already reflecting the trend. Hive is now at 48-ish cents and I expect a slow red back to the 40-45 cents range over the next few days.