Well my fellow Hivians we have become very accustomed to Hive pumping and dumping lately haven't we? And last night it was at it again but this time the pump cycle has not lasted as long. Take a look at the Hive trading chart for the past 24 hours and you can see exactly what it's been doing.
(Source: Coinbase.com)
As you can see from the graph the pump started at midnight UTC which is a common pattern that has emerged with these pumps, they always seem to start around midnight UTC. Last night was no different in terms of the start of the cycle. Hive then hit $0.63 an hour later but it did not sustain.
By 2am Hive had pulled back to $0.55 and has since fallen slightly further and is currently trading at $0.53. Take a look at the exchanges and once again the Korean exchange Upbit is largely responsible for the pump recording a trade volume of $358m.
(Source: CoinMarketCap.com)
These pumps are almost routine now so I wonder how many of us have been taking advantage of the Hive market lately? There must be quite a few people out there who have been working the Hive market recently, are you one of them? Sadly I wish I was one of those traders, I would be staking up Hive right now, selling and then restacking if I were in a position to do so.
If you are taking advantage of the Hive trading opportunities at the moment why not share your story with us. With such a recurring pattern with the Hive market currently it's a wonder how long these pump and dump cycles can continue?
Peace!
My strategy is dont trade. Just stack! 😉
Now that's a sound strategy!
Hodl