I have been converting some of my coins to hive few times a week. I have a lot more to convert but all of the sudden it skyrocketed. So I guess it may not be wise to convert anymore. I am happy but curious, Anyone know why it went up all of the sudden?
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To know this, you have to be attentive to the news and the fluctuation of the value in the market. The hive is the lighthouse of the platform so its increase could be due to high demand
Yeah but not expecting it to be this sudden. Wondering what is happening 😀. Did not catch any news yet.
Although what I have been able to read is that a strong action is observed in bittrex, it seems to come from arb bots, while the other sellers who try to participate in the high price action
These things are usually triggered on the Korean Upbit exchange, starting with the HIVE/KRW (Korean Won) trading pair... someone executing some automated trading orders, and when the trading volume all over has been on the low side for a while (as it has) liquidity is relatively low so some large buy orders send the price rocketing.
Most of the time, it comes back down after a few hours (or a day or two) but the good news is that each time it happens Hive generally settles back at a higher base. So, we've been looking at $0.65-$0.70 Hive, so I'd say there's a really good chance the price will settle in around maybe $0.80-$0.85 after this blows over.
Unless there's something in the news I just don't know about.
Thank you very much for the information friend, which brings us closer to the predictions for the end of the year stabilizing at $ 1 the hive.