The Koreans on Upbit are making the price of Hive crypto going up - We take a look at how, why and to what extent.
The price of Hive crypto is going up because the coin’s lack of liquidity makes it extremely easy for [Korean traders on Upbit to take advantage.
Oh those zany Koreans, am I right?
As Hive crypto makes another run above $1 today, let’s take a look at how we know it’s the Koreans, why they’re pumping HIVE and make a prediction as to how high it can go.
How we know Hive crypto is going up because of the Koreans
Hive crypto is going up because traders on the Korean exchange Upbit are pumping it.
Upbit is a Korean exchange that requires KYC and offers a HIVE/KRW (South Korean won) trading pair to its registered, local clients.
Bring up the Hive CoinGecko page, scroll down and hit the Markets tab.
Gate, Binance, Huobi and MEXC all make up the top-ranked exchanges with green trust scores.
Each trading against some USD or BTC.
All seems pretty normal, right?
Well now hit the 24h volume column and reorganise the list by highest to lowest.
Now we see Upbit is ranked a clear number 1 with an absolutely astronomical $176,298,896 of volume today alone.
All through its ridiculously niche HIVE/KRW trading pair that only the Koreans have access to.
Lol.
Just lol.
Why are the Koreans pumping Hive crypto?
The Koreans are pumping the price of Hive crypto because it’s a low liquidity, low supply coin that they’re able to take advantage of via a closed KRW market.
Do you like making money?
Well, it turns out that this isn’t a phenomenon reserved for those of us in the west.
It turns out that the Koreans like making money too… insert a Squid Game prize money joke here.
It’s certainly a bit dodgy, but who are we to question the role of Korean financial regulators in the global, decentralised marketplace we’re all a part of.
I’m sure they have it under perfect control.
Never mind me, I’m just jealous I’m not in on it.
How high can the Hive crypto price go?
Just taking a look at the technicals, Hive crypto looks on the cusp of a major price breakout.
I’m ignoring the ridiculous Korean pump and dump wicks that are shooting well above the $1 level and focusing on the daily closing prices under more stable trading conditions.
Take a look at the following Hive daily chart with my key point drawn on in red.
HIVE/USD Daily:
A clean ascending triangle.
Those higher lows show that each time price pulls back, just a little more of the true supply gets soaked up.
What happens when there’s no more supply left to be absorbed and all that remains is demand above the $1 resistance line at the top of the triangle?
BREAKOUT BABY!
With everything else we know about what’s going on here on Hive, combined with that classic technical setup, it just feels like we’re on the cusp.
Final thoughts on why Hive crypto is going up
But the wider crypto community is starting to discover our fast and scalable chain - You know, the premier blockchain for web 3?
I've spoken about Hive crypto being a good investment this year already and the price action we see above only makes my case stronger.
Good things are coming.
You've had more than enough time and warning.
Just make sure you've put yourself in a position to take full advantage when they arrive.
Best of probabilities to you.
Direct from the desk of Dane Williams.
Why not share a chart or leave a comment with your opinion on why Hive crypto is going up? All comments that add something to the discussion will be upvoted.
This Hive crypto blog is exclusive to leofinance.io.
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This is cool, wish other people can do same and add more liquidity to Hive. After discovering the value and loving, they stick to it for ever
We really do have something special here on Hive, don't we? :)
In my opinion, it's only a matter of time before we go from an undiscovered gem, to a true top 10 cryptocurrency.
This Hive crypto price pump could be the beginning of this.
...or not haha.
Only time will tell!
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Wow this great news, having more people investing and loving our coin feels fulfilling.
I noticed the price going up and I was like "This is just it's beginning" 😊 I'll keep staking and pray more Hivers stake more while we hope that more bigger investors will find our coin worthy of their investments.
Thanks for this expository write up on our coin, we keep watching and hoping for those opportunities to come by and we will take big advantage of them.
Thanks for the kind words, it's much appreciated.
My only advice is we can't just pray.
As Hive is a community-driven project, it's up to us all to contribute to our blockchain's success.
You're doing this by engaging in comments like this and getting involved by contributing meaningful content.
We need to keep encouraging everyone :)
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Yeah you're right, I'll just keep doing what I can do to contribute to the success of this block chain
You're doing great, keep it up :)
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Hihihihihi... @khaleesii @iskafan @davidbright @jaydr have y'all seen this???
Thanks for sharing this Hive crypto blog, Deraaa.
Hope it helped! :)
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Not yet.. Thanks for tagging me.. I appreciate
This was an interesting read, thanks for the tag.
Hive to the moon.
@belemo scares me with that $8 he said o.
A great read.
The TA is also accurate.
I ve been following closely on Binance.
Like @belemo said, don't be caught with your pants down😂😂😂😂😂
Lmao, do I feel stupid for moving some HIVE to HBD now (did it to purchase Splinterlands anyway), riding on the price going up.
Either way, thanks for the analysis! For once I actually understood what you did, and I like me some data analysis, but always felt completely out of my element when it came to stocks/crypto. So thanks again!
Haha, isn't hindsight a wonderful thing? ;)
There's no point in dwelling on decisions we make in the past.
We will never perfectly buy the bottom and sell the top.
All we can do is take some meat out of the middle - Which it sounds like you've done buying Splinterlands assets.
It's all good!
Also just finally, thanks for the kind words about my analysis.
I've tried to change the way I write these sorts of analysis posts, just to keep things high level and reader-friendly.
Happy to hear this sort of feedback :)
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It sure is!
I made something like 400% profit on a gamble (don't remember if it was crypto or corona stocks), showed off to my dad about how I turned 50 bucks into 200 (I don't place big bets on gambles) and he said "oh wow, had I given you my house down payment, I wouldn't have a mortgage to pay anymore" :)
Tried to explain to him that it could have just as easily gone down to 0.
Anyway, I haven't read your old posts so now I have something to read :) but if you did make a change to make it more readable, it's really appreciated!!
I agree with checking the actual closing prices but the chart is definitely looking nice with all the higher lows. At least from the way I see it, the triangle is way more likely to break out to the upside.
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And due to the supply/demand dynamics that I spoke about in the blog, if price does break out to the upside, it's much more significant than a downside break.
The ascending triangle printing higher lows with each push down is showing supply getting soaked up.
If this trend continues, then all that will be left is demand with no supply.
When that happens, it's moonshot breakout time!
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Thank you for the useful post, @forexbrokr!
You're welcome ;)
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It's going to be a Hive flavoured Christmas. Working to hold some liquid coz I'd hate to be caught unprepared.
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Put so much more eloquently than @belemo's wording in his comment above, haha!
I love it ;)
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Constant growth would be nice instead of just pumping to a dollar and watching it go down, but hey im a patient man, i can wait :)
We all agree with that sentiment.
All we can do is continue to build and contribute to the community where we can.
I have no doubt that eventually Hive is going to experience a massive repricing and it will live up to its potential.
Like you said, we've just gotta be patient in the meantime and use the downturns to keep stacking.
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If hive should breakout I think 1.5$ is possible before December.
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From a technical analysis textbook point of view, we should be looking for the breakout to be the same size as the ascending triangle's height.
Does that line up with your target?
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I knew there was someone pumping the coin because it didn't have any sense watching it pumping and dumping, and the marketcap increased 100,000,000 in less than 10 min.
Is good to know who are behind at this, because for some people would look at hive just as scam coin. And all the work the community has being doing could go down.
Nobody wants that
We're most definitely not a scam coin and if these pumps encourage people to just take 2 minutes to look, they'll quickly see this themselves.
I'd be more inclined to say that any publicity for Hive is good publicity haha.
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It has been interesting to see the price of Hive pump for what seems like no apparent reason. Most of the time I see this when I'm about to go to bed, which would mean it is daytime on the other side of the globe.
Good analysis. Thanks!
Change the clocks on your phone to Seoul time ;)
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A great explanation of what is taking place.
What is fascinating is that it seems like each pump, and ensuring dump, does raise the floor. So perhaps this time HIVE will see a floor of 90 cents or a dollar.
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i think we should have a floor of 1 dollar now. I think they are taking advantage of truly safe and decentralised way to make a percentage of interest outside of any form of control.
Thinking along the exact same lines as me.
It's only a matter of time.
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Now that Hive has broken above $1, I would like to see more momentum behind the move.
I still think it's so weird that we managed to do this in the midst of quite a significant market-wide correction.
But yep, bring on that new price floor at $1 :)
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That is the trend!
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Great article, very instructive! Hive crypto makes me cringe, just Hive, now that's more like it!
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Haha, I do agree with you.
But using the name 'Hive crypto' instead of just 'Hive' is simply to help our brand gain some traction on Google.
Whoever made the final call to name our blockchain Hive completely overlooked how saturated that name is already due to the existence of Canadian 'HIVE Blockchain Technologies Ltd'.
Unfortunately for us, they really have an established stranglehold on all things related to Hive branding.
By using 'Hive crypto' in my blogs, I'm trying to target a keyword that still receives relatively high search volume, but isn't completely overrun with that Canadian stock's branding.
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Great summary mate and all true. Right now, Hive looks to have settled around 80cents range, so pumping it to $1 isn't even a big deal.
Also, on numerous occasions in the past three weeks, Hive has also tested $1, and it's just felt like it's only a matter of time before there's a mega bubble type of breakout that will push price up to $8.
Right now, I'm just trying to get some liquid hive in my wallet. Don't wanna be caught with my pants down when it eventually happens.
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But at the same time, you don't want to be caught with your pants down by selling HIVE that you've powered down on a pump and then it never returning.
My thinking is that even during a bear market, having the ability to earn curation rewards from Hive Power is huge.
If the price is low, then you're earning more HIVE tokens and just increasing my stack bigger before the next bullish market cycle.
Of course it's all good selling small amounts of liquid on the pumps, but just don't sell your core stack with the hope of buying it back cheaper.
I just don't think it's worth the risk if you're here for the long term.
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The chart shows that Hive is making higher and higher lows and that good, we are in an uptrend and knowing the things that are coming, it is very possible that Hive will go up in price in the next weeks or by 2022.
Sounds like a good prediction to me :)
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HIVE is on bullish trend. That's our Target since. We should expect more correction on Hive.After the correction,the next bull, Hive will be in strong bullish trend.
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So you're still expecting a HIVE correction rather than a breakout above $1?
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From the chart, you suppose know that,it will correct before it will continue uptrend
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How deep do you expect this correction to be though?
If it's just a retest of broken resistance as support, then we might have already seen it:
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Hmmmm,let us watch
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Boss I hope, you have seen the correction. That's the correction I was telling you.
I am a forex trader bro.
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Nothing new when it comes to price performance. Those Koreans sure do pick their coin of their day on cue daily. I am happy to see all the real development bringing in actual interest. The more people who we can get to market buy the coin them power it up for years, the more the price will pump as liquidity dries up.( granted all the “salaries” hive pays doesn’t dilute all the new buyers)
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Hive just needs to find its equilibrium point between rewards pool inflation and sinks that generate demand and soak up HIVE.
General power ups are one, but there's also a lot of hype around 3Speak's SIPs.
On LeoFinance, I know @taskmaster4450le talks a lot about their potential to soak up a LOTTTT of HIVE.
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I don't understand why a "closed" system would impact the global market of Hive.
Low liquidity, low supply sure whatever, but why would someone want to pay inflated prices rather than the "right" price?
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As crypto markets are decentralised and trade across multiple different exchanges, there are always arbitrage opportunities.
So if one exchange pumps, then that opens opportunities across others to arb and eventually means they all catch up.
In this case, we start with the single Korean exchange doing all the volume probably on a pump/dump scheme, but then everything catches up as the arb bots take advantage.
I'll eventually get around to turning this into a proper post, because I see a lot of people asking similar questions.
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Holy Koreans
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If only some of them would stop and actually look at the utility behind HIVE.
I find it surprising that there isn't a bigger Korean language community actually using our network.
Too busy pumping and dumping I guess haha.
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I've been telling my friends that I have onboarded to Hive to not get too crazy selling these pumps as one day, it is not going to dump and you will be left out of the action. Same thing happened in 2017/18 when St^$m shot up to $8. If you were a 100% dumper expecting to buy back at 95 cents, you'd be SOL. I know it is coming, not sure how high it will go, but $1.30 is not my sell target.
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This is exactly how I see it too.
Reading people talk about risking huge portions of their HIVE stacks on a flip after a 20c pump to $1, is just crazy.
Not worth it when targets are surely 10x or more from here.
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For real. The flippers are learning now as things are not coming down (especially compared to the rest of the market)
If the koreans wants a pump then who are we to say no. Whichever ways, hive is always going to pump anyways, time is all it's going to take.
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It's a free market, right? ;)
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Exactly 🦁
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But it does not show up as green so no trust :) By the way figures on Binance also looks good - 5$ is not far ?
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I know they don't have that little green light next to them on CoinGecko, but they're definitely a trustworthy exchange.
I assume that they just don't have that green light because they're based in Korea and not the United States?
Anyway, they're no bucket shop, that's for sure.
Let's hope so! :)
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Binance is also not in US :)
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Good thing i love K-Pop, annyeonghaseyo!
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