Well, that happened a little faster than I thought it would. As you can see from the chart, we broke the 100 day moving average support and quickly fell to the 200 day moving average support line. It does not look like the 200 day support held, but I expect a dead cat bounce back up to that support line in the next week or so.
I have started to move my HBD out of savings and need to figure out what my play is from here. One interesting wrinkle is HBD is sitting at $0.90.
One option is to try to capitalize on that difference and use the on chain mechanism to convert HBD to HIVE and then back to HBD using the internal market. I do not know much about that and need to investigate this further. Looks like I have 3.5 days to do some thinking. With an internal AMM, I think this would be an easier decision.
It is also worth noting that the 25 day moving average is going to death cross with the 100 day moving average so things are not looking great for HIVE at the moment.
With two airdrops, this was pretty predictable, which is why when the airdrop date was announced, I started a power down so I could move over my HIVE into HBD for the ride down. So far, so good on my timing. Now I just need to figure out where the bottom will end up.
I would love to finish the year with at least 200,000 HIVE. Something else on my radar is the debt ratio. With the falling HIVE price, we are sitting close to I think 5%, so if this continues to fall, that is something I need to consider as well.
Crypto sure does move quickly.
I never saw the dip coming, I hope hive bounce back soon
It will, but it might some time. Looks like everything is starting to dip
😔😔😔 I already gave myself break form checking crypto chart. Thanks for the support
The problem with conversion is that the chain pays accordingly to hbd market price, so you’ll lose money because you will receive 0.90 cents worth of hive, and hbd is more valuable than that in the internal market most of the time
Unless you trade and believe hive will go up in the next days
Is that true? That is where my confusion is. If it pays $1 of HIVE, I would assume it only uses the HIVE price feeds and the HBD feeds are ignored.
Here is what Peakd has:
Interesting. I started a couple of small conversions and will let you know what happens. Thanks for the heads up.
Try to write “one” hbd in the box. The system will show this info . You will see .
I might be wrong . I shall give it a try
What are the airdrops? I've been totally out of the loop on that. Is it something I can still claim?
Ragnarok and Speak Network
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This looks like a tricky game. Let's see how it will turn out. But it's obvious it would take some time to bounce back.
and it creashed just as quickly yesterday :(