Is holding steem and sbd greatly affects the price of HIVE? So it's imperative to for formerly steem holders to sell it right if we want hive to increase in price?
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Is holding steem and sbd greatly affects the price of HIVE? So it's imperative to for formerly steem holders to sell it right if we want hive to increase in price?
That really depends if there has a lot of volume going on with STEEM/BTC / STEEM/USD pairs , then a sudden transfer and filling the orders in the market for HIVE. There are BOTs who do that, especially who wants to arbitrage both of the pairs.
Holding Steem/SBD does not affect the price of HIVE, however it got really affected after the Binance Listing, where people had alot of steem in their Binance accounts, so those users have 4 choices after the HardFork.
A) HOLD STEEM/SBD/HIVE/HBD
B) SELL STEEM/SBD/HIVE/HBD
C) HOLD STEEM/SBD and SELL HIVE/HBD
D) SELL STEEM/SBD and HOLD HIVE/HBD
or it could be just CZ Binance selling all those HIVE because he didnt believe HIVE community he just wants to dump it and delist it soon if it doesnt meet the standards. (#conspiracy lol)
they also get to decide if those SOLD assets would be bought back to other currencies, which I believe it did not happen, there was a lot of dumping in HIVE. Maybe because of that free multiplier.
But, it does affect the price of HIVE if BTC would stay bullish,
Lets say BTC is priced at 20kUSD/1BTC, the HIVE/BTC pair is 1 HIVE / 500 satoshis but it remains at 500 satoshis and Bitcoin is going up to 40k-50k, HIVE is bullish together with the USD price not with the BTC pair, now we can technically say its HIVE is bullish because of HIVE-BTC pegged lol.
Which means, its better to HOLD BITCOIN than HIVE if you are trading with it, but fundamentally speaking - HIVE is really bullish, there has been alot of improvements within a span of weeks, new members are coming, new opportunities, new users with power ups.
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