Moments ago, HIVE jumped out of the 80 cent range it has been in to a high of $1.30, as Bitcoin corrected over 10% in just a few hours. The whole crypto market is down hard as our currency makes a new all-time high.
HIVE has been hugging the 80 cent line since the start of September, but an hour ago suddenly surged above a dollar, and is currently holding above 1.2 USD. That's a price previously unseen by HIVE (although STEEM was over $8 each in 2017).
The chart, going back to the beginning in April 2020, shows a long consolidation period setting up the current bull move.
As the overall crypto bull market advances into the end of 2021, HIVE is now primed for further increases.
That said, it appears Bitcoin and the other cryptos have just popped, instantly losing more than 10%.
The chart is looking a bit ugly, but if it finds support nicely off 60k it would become somewhat neutral, making the overall bullish trend likely to resume. Further breakdowns from here could signal a longer pullback, or possibly the beginning of a bear market.
Meanwhile, HIVE is likely to correct back to at least $1 in the short term, since it has sharply pulled back from every sudden price spike over the past several months.
But seeing our currency hit a new high just now is noteworthy. Congrats to all holders of HIVE!
DRutter
Posted Using LeoFinance Beta
This is great news! Even little guys like myself, who comment about once a day, are worth something now! About $100 USD, in fact. Not bad for only starting with $10 just 3.5 years ago. $90 profit!
!LUV
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The issue is there is a huge selling volume as people take profits from splinterlands. But if a bit of FOMO hits we could easily see $10 by end of bull run, esp if we take some eth market share.
I honestly have no idea what really affects the price of Hive. I just keep using the platform for blogging and holding what I make. More money is more money though, and I will never say no to that.
Yeah that's a good point, as long as the place functions, it's worth using.
That said, there are other (better) platforms that function. It would be good if the currency was also worth something!
And now at more than a USD each, it's starting to feel like it is worth something.
!LUV
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We will see if the pump holds. The bulk of the activity is coming out of Korea.
They have a track record of dumping after they pump the price.
Either way, have fun while it lasts.
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Yes, holding at $1 for now, but might come back to 90c or even 80c. But it does seem that a more bullish pattern is beginning to emerge, with spikes to the upside, and not as many deep dips for buying cheap. And I imagine if I could see a long term moving average it would be rising.
Smart money understand that Hive has a real community that can not be bought. Splinterlands, Hivepunks is just warm up..
That is true but I would say this is likely just a pump.
Posted Using LeoFinance Beta
Hive is going to undergo correction. Maybe after the correction, the 1 Dollar on Hive will be permanent. Let use this opportunity to buy alot of it for investment.but we should expect more market structure on Hive. The market structure is going to form a strong support that will help hive to be in bullish trend.
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to the moon 🚀
Sure looks like it eh?
Imagine if that $1 became $8? That's only the previous high from the last bull market 4 years ago. That would be pretty sweet since I now have 17000 HIVE.
!LUV
I had those thoughts too. would be very nice 😁
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