I cannot predict prices but what I know is that someone has started bottom fishing for hive at $1.11. Then we know hive already reached $3. If the bear market continues though, those have bought at .75 cents to .90 cents can still have the luxury to sell at a profit.
With crypto valuation, how I value crypto though is the changes that has occurred like is Hive different now from when it was at the 75 cents level? Is it a more powerful blockchain network now? Let's say Splinterlands players is what's driving the price of Hive higher, did the number of Splinterlands players increased? Or has the number of Hive accounts opened increased by how many percent? I mean, I would look at those numbers for me to conclude that Hive has gotten bigger as a community and has gained more utility. There could be other more factors like new games coming like Ragnarok or maybe Rising Star going mainstream too. Maybe 3Speak suddenly becomes hotter than YouTube.
I really think Hive is unlike other coins but then there has to be some catalysts at least to drive the price up. For now I see as catalysts are: More exciting games, more people using Hive, more Hive members buying Hive, or other things like Hive based NFTs suddenly become hot items, new partnerships perhaps?
In my honest opinion, Hive has a solid community and devs and so I see no reason for the price to appreciate.
If the people who bought at $3 thought Hive should be at $3 before the dump, then I would think that if Hive could improve more then it should be more than $3.
I learned a lot from your comments and I am glad that you spoke in such detail. Anyway, I welcome all your analysis. I still don't understand how much more it could go down for rebuy?
Thanks my friend. The market seems to be picking up right now so I guess this is a good price now.
I have no idea what caused the market to collapse۔ Anyway thanks for answering and wondering if i can buy Hive against Hbd?
For me reasons to sell are just excuses. The market collapsed because people cashed out. You could have really bad news but if no one pulls the trigger the price won't go down. In crypto, these whales are heavily leveraged and so they have to beat other whales to buying and selling. And that's why it quickly goes up because at some point they have to cover shorts before somebody beats them to covering their shorts.
It seems btc was just played. Goddamn whales.