It has been bothering me for a while. The question of whether it makes sense to HODL Bitcoin or keep invested (powered up) in Hive.
Therefore let's take a deep dive.
I've taken the data for the last 2 years from CoinMarketCap.com for both Bitcoin and Hive (Hive data only goes back this far) and checked how they have progressed each month. All charts I have created myself.
Here you can see the Bitcoin/Hive ratio for the last 2 years. This is how many Hive it took to buy a Bitcoin. We can see the peak where Hive was at its lows at the beginning of 2021 and since then has gone from strength to strength. Hive seems to be getting stronger in relation to Bitcoin.
The next chart tracks the month-on-month % change in price. Here we can see that Hive is tracking Bitcoin quite well but has had a couple of large volatile peaks.
Here we can see the progress of the Bitcoin price against the Hive ratio. We can see clearly that it paid to hold Bitcoin initially but then from the lows in early 2021, it would have paid big time to hold Hive and we are seeing the prices tracking each other better and actual Hive strength against Bitcoin.
Here we can see the progress of the Hive chart for the last 2 years. It has had some tremendous growth. It is also around 50% below its ATH.
Here we can see the chart for Bitcoin for the last 2 years which also looks impressive. The potential growth has been larger in Hive than in Bitcoin, but it is still impressive. The price in Bitcoin seems stronger than in Hive with the price still only around 25% off the ATH.
What are your thoughts about Bitcoin and Hive?
What strategy are you following?
Thanks for reading.
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Hodling is the way to live ;)
No if I'm being serious there are projects that are a long hold and others were you just might wanna try to make a quicker profit from. But Hive for me is a long hodl. Forever hodl!
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What's the HBITgame? | Card 2 of 4I think so too, lots of interesting wealth-building projects on Hive.
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What's the HBITgame? | Card 2 of 4A simpler way to look at it would be to compare HIVE in satoshi value, there is a certain time period where you could have done better, but for the most part its been a massive downtrend.
So you'd ask yourself if I put in X value into BTC how many satoshis would I have versus x value into HIVE how many satoshis would I have worth in HIVE
Also with HIVE having so little liquidity if you had any reasonable amount of funds, you cannot liquidate without massive slippage so only a few of your sell orders would meet that sat to hive ratio before pushing the price down
Thanks, that's a good way to look at it and good points about the price. I will take it into consideration for my analysis.
Holding also require the best place to purchase. I strongly believe in Hive. I know Hive will outshine most crypto currency. Hive have the tendency to compete with bitcoin.
We in this community have to Hive known to people around us.
Thanks for sharing
Cheers
Thanks for your comment. Hive is a gem not known to so many people.
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What's the HBITgame? | Card 2 of 4I don't like to pick sides, so I'm going for both... I have some BTC that I HODL for a long time, and on the other side, I have HIVE that I'm accumulating for the last 3 years...
These two aren't comparable on a blockchain level as they are completely different, but price-wise, you did a great job pulling out these charts...
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Thanks for your feedback. I think you have it right, you've got to have both. Trying to find the right balance is the tricky part.
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Thank you guys. 👍
I use BTC basically as a store of value and Hive as a development source. Something like BTC savings and HIVE investment.
Looking at it this way certainly makes sense 👌
There's a bigger risk/reward ratio for Holding Hive as opposed to holding #BTC. Simply because Hive has a lot smaller market cap, thus a bigger window for expansion.
Regarding the strategy, it depends on whether you seek stability or volatility. It depends on what's enough for you and what your goals are.
Because the most lucrative strategy would be selling local tops (when the volume is low) and buying local bottoms. There is a pattern Hive likes to follow, making it a bit easier to predict its correlation with the general market.
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Thanks, those are some important considerations for sure. I will take a deeper look into them.
I've noticed Hive is following certain patterns and hopefully this will continue to pay off.