Not hard to decipher based on current trend and market structure that the price remains in a bearish trend on higher time frames. We've witnessed this in the past with Steem where the token constantly shed value and the same repeats now with Hive.
There were a couple of instances where the price action stood a chance to change the trend by breaking away from its bearish market structure but we are far from that currently.
Many alts have had a fantastic year so far and have been bleeding only after posting insane price rallies. Many are still up significantly despite steep corrections. Hive had one major rally upon its Huobi/Binance listing to $1 and has only bled ever since down to 11cents. It's down 89% from ATH within a year of its listing!
Doesn't seem like it would be long before we break 10c and back into the single digit area. Quite sad but that's highly probable, especially if Bitcoin corrects a little from current price levels.
It has been moving in the parallel channel highlighted in this post and is close to breaking lower as the bounce has been very weak so far.
Anyway, it would be great if the price bottoms out by December. Alts have generally rallied from mid-December historically. It would be great to see HIVE turn around and pump hard when the rest of the alt coin market which is starting to look bottomed out starts mooning!
Good thing for those that still have faith in Hive and use FIAT to buy it. Although I'd rather a new higher baseline.
That! Hive is a wild card. It wouldn't surprise me if it went beast mode while all other alts have a correction.
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I am completely new here, but I wonder a little bit whether the price drop is related to the ever-increasing circulating supply of HIVE?
And would LEO suffer from the same problem then eventually?
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Inflation doesn't matter if we're all getting our share (or at least inflation didn't matter in 2017).
Demand matters, and currently is nonexistent IMHO.
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My feeling is that ETH Devs clearly recognized that the D had to be removed from DPoS governance to take advantage of the scalability of the network speeds without trading off the expected trust of Proof of Work (a vunerability exposed in the HIVE/STEEM fork) as they make the transition to ETH 2.0.
Hopefully development with ETH 2.0 will move quicker than SMTs on STEEM. 😎
For me, at least, DPOS has been sidelined other than for less secure critical applications like games and the like. One is not likely to see investors looking for storage of wealth after the vulnerabilities exposed in the HIVE/STEEM shit show.
I think you summed it up fairly, especially the last bit.
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How you see the arbitrage could be possible ? HUOBI's IN and OUT gates are still LOCKED
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There is a way to be benefited from that arbitrage, but you'll have to pay some fees and also be patient.
Send BTC at Huobi and keep buying as much Hive as you can. Once wallets are on the price on Huobi will adjust to the average of the other exchanges and not vise versa. You sell then for a nice 15% - 20% profit.
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