Hive Performance

Against the backdrop of an undecided but resilient Bitcoin Hive has been doing alright actually. Hive is up 11.5% on this time last week. That's a strong performance given the indecisiveness of Bitcoin right now.

If we just focus on Bitcoin for a moment, a couple of days ago it performed a diamond pattern.

Some crypto experts see this as a potential sign of a breakthrough in the vertical direction. I must say they might not be wrong. Yesterday, on completion of the diamond continuation pattern, Bitcoin jumped 3% up to $98,300 and then pulled back slightly, it's currently trading at around $97,500. This is a breakthrough in the right direction.

(CoinMarketCap.com - Bitcoin 7 day trading chart)

So back to Hive and in the past 48 hours we have seen it increase going from $0.31 to now trading at $0.33. Given the mild Bitcoin jump it's not surprising that we see Hive moving slightly vertically, in tandem with many of the other alts.

(Coinbase.com - Hive 7 day trading chart)

Overall things are still looking bullish in the cryptosphere but for all of us balls deep in the altcoin world we still have an unanswered question - when do we get our long desired altcoin season? Will we get one? While all the indicators are looking healthy make sure you keep everything crossed because nothing in crypto land is guaranteed.

Peace!