Hive Dump Got Ya Down?


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Watching Hive price go from $1.60 to 85 cents isn't easy!

Crap did I just lose $170000?

Of course unrealized gains and losses mean nothing around here, especially when all the stake is locked up like it is.

Turn that frown upside down!

Think back to three days ago. Before the pump. Hive was trading at 70 cents. Who else was worried that this was a peak and would head back down to 50 cents again? I was.

However, as soon as Hive spiked to $1.60, those fears were put to rest. Even if all of these gains melt away back to the 70 cent line, we still have exponentially more support at this level than we did just three days ago.

Call me crazy, but when people see the price x2 in ten minutes, they think twice before selling at the lower levels. Everyone who missed the last pump is looking to get in on the next one. That means a lot more holders are going to be sitting on liquid Hive this time around. Especially if we are trading at 70 cents again. No one wants to sell their coins for the idiot prices. Many will wait for a better deal.

In my mind, as far as Hive is concerned, 70 cents is the new support. This absolutely was not the case 3 days ago. More importantly, the real resistance is at $5-$10. That's the range where all the whales wake up and remember how wrecked they got on Steem during 2018. Lots and lots of people gonna sell there. These opening $1-$2 levels mean nothing in a grand scheme of a mega-bubble.

There's also an argument to be made that this community has been chronically undervalued for years now. Steem went all the way down to 7 cents in March 2017. We've been building and decentralizing that entire time. Given a similar doubling curve as Bitcoin, this community should already be worth $1.12.

It's possible probable that the series of unfortunate events that has befallen this community time and time again has kept us in a constant state of oversold floundering. This becomes especially relevant when we look at whales that were exiting the platform with ninja-mined stake that they didn't work for.

For all the faults that Hive has, there really is no competition for what we are doing here. People keep talking about "decentralized social media" while they sit on their hands and continue to ignore what we have going here. No network out there is going to magically catch up to where we are today in terms of token distribution and decentralized development. The hardships we've faced in the past have turned our codebase into a grizzled and efficient (cheap) data ledger.

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So when do we get to the tipping point?

This is a capitalistic question in nature. When can developers live off of Hive and quit their rat-race day-job? What about bloggers? What about all the other jobs we haven't created yet?

Get paid to ______.

At the end of the day it's all about money and resources. Hive doesn't have a lot of money floating around (yet) but we've done pretty damn well with what we had. Scrappers Guild unite!

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Conclusion

The cycle continues!

It's always good to have some liquid Hive on hand just in case something crazy happens (like an x2 in ten minutes). Historically the price is going to drop 95% of the time after a big pump like that. However, I always urge steady hands and balanced positions. It's never correct to move all in or all out of these markets. Hedge your bets and you'll do just fine.

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Nope. Didn't even matter to me. I'm still HODLing until I need the money. Haha.

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Is there a price at which you would begin to trade some of your Hive ❤️ ?

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I didn't really think it was going to stay much above $1 for too long. It seemed like to fast of a jump and I knew that we were probably going to fall back down to some support. It is nice that we are still sitting higher than we were. I also think we have much better times in store.

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Agree, its higher then it was and so much good stuff is happening, with so many eyes on this place, good things should become more frequent.

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Don't sound very good. But I think that so be.

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Good post

I'd like to see a nice sawtooth pattern, ascending.
If 85c becomes the new support [instead of 70c] then we are making a sawtooth.

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I have eyes on that level and we have see previous daily closes there.

more importantly, 1500 SATS level on HIVE bTC needs to be a strong support and hive has failed to stay above it for a few days... if we hold that and BTC is mooning, we will do better.

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I'd love to see Hive track with BTC very closely... but near our ath in Sats 💪🤪👍

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In theory, I should build up a supply of liquid HIVE to take advantage of the Upbit-dominated spikes. In practice, #hpud comes along and I power up.

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Make a solid plan and follow it :) That being said, if it hits $7 you will be happy that you kept it :)

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I really believe in hive, how we can continue to grow and innovate, about price I really believe in and don't really care about this small spike, because the real value is social media is decentralized, and I really feel that hive is the place to be

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If anyone thought that that pump would be like for months, then they don't know how Hive works. It was good to see that pump and I wouldn't really say im sad, this dump will help others prepare for the next pump. It's the hodling game. Everyone Wants to gain at the peak, it is a healthy narrative for Hive if you ask me.

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No network out there is going to magically catch up to where we are today in terms of token distribution and decentralized development. The hardships we've faced in the past have turned our codebase into a grizzled and efficient (cheap) data ledger.

Word. Unfortunately, the token still seems to be at the mercy of these Korean pumps, as most of the volume came from Korea on the HIVE/KRW pair. As the world is going to get fed up on facebooks and twitters, Hive will for sure get some real traction. Add a few more games like Splinterlands and we will probably never have HIVE under $1.

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Three days ago, the there was a pump and most people who think that the price will be stable for so long, maybe I will say they are new to crypto, now it's dipping and I will be able to hold more of it

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I'm glad I'm not alone in my thinking :) ... My plans are to use a portion for selling high to buy low, while keeping the bulk as hp

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I certainly didn't expect it to stay up there, but each of these crazy spikes tends to lead to a new baseline... we were bumping along in the 60-65 cent range, and I am hopeful that we'll now start bumping along in the 80-85 cent range for a while...

Wait... WHAT? Yeah, that means we just got a 30% overall wealth boost from the crazy spike...

=^..^=

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Yeah, I think it will always boom and bust but it will be a case of two steps forward, one step back. So in essence, no need to beat yourself up because ultimately the price and market cap are consistently growing. For a long time, the norm was $0.12 to $0.20, so progress is being made!

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fully agree! It would be surprising for it not to drop back 50% by now. It's Hive's fractal and will be a good indicator for future movements. I also see 70 cents as the support as we have a strong trend line in the weekly chart here:

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(Edited)

Hi @edicted

I have only been here three years, but my experience has been exactly as you describe: Hive Pump, Hive Dump, but I agree, that this time, the Pump was higher and the dump was lower. So higher Highs and lower Lows (in general) mean positive price action.

Bravo and well done.
Wise words...

It's always good to have some liquid Hive on hand just in case something crazy happens (like an x2 in ten minutes). Historically the price is going to drop 95% of the time after a big pump like that. However, I always urge steady hands and balanced positions. It's never correct to move all in or all out of these markets. Hedge your bets and you'll do just fine.

It's always a good idea to keep some dry powder on hand for when things blew up, you can step right in and able to capitalize on the gains.
[Source]: @taskmaster4450

Lastly,

Hive is definitely a solution to social media ailments and if only we could whisper in Tom Dorsey's ear: You don't need to create another Hive, join us here as a whale, then put in the APIs to link Twitter to Hive, then sit back and watch your money grow.

A fella can dream right?

Short

P.S.
Splinterlands @aggroed announced their one millioneth account, I am waiting for your post about that...

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Well I didn't take any profits but I probably should of. There was probably a lot of arbitrage to be done every single time this occurs.

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Even if all of these gains melt away back to the 70 cent line

I will have 50% more Hive than I sold! Then back to 1.50 and onto 3 - before hitting 5.

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Well if it's steadily moving in an upwards direction that's one thing. However, i've decided not to analyze hive like systems anymore and i generally will never invest alot in them. The reason being i can give you an example. I first arrived at steem like over 4 years ago now. Long long time for crypto. If you think in terms of bitcoin almost half the life of bitcoin's entire existence.

The problem is it was about 200k users when i arrived and steem and sbd were in the $2 range. bitcoin was about $2000 then jumped to $4000. Bitcoins' deflation model now has it in the 50k range. Hive which to me is still steem as it has the same exact people struggles to maintain $1.

In other words i can't use metcalfe's law to analyze the hive network. it doesn't work. the network now has about pushing 10x it's growth and its still down over 50%. That's a bad sign for me. For me it would means the network as a whole doesn't work. it may work for some of you. However as a whole i can't substantiate that it works well.

My token using deflation was at 0.00025 it's now around 0.00084. it seems to always stay above these ranges and i believe that's based on network growth, metcalfe's law and conceptually i dont really care about trade volume as long as the concept works i know it will work on any scale. So that's not the issue.

Hive doesn't mirror this. it defies metcalfe's law. it shouldn't do that. However it has alot of moving parts and this weird inflation system they created. Which now i believe needs more thought. I think dan larimer and ned scott may have realized many inherent issues with it. it does not work in the crypto sense of what i think people want. So it's going to remain quite niche i believe until that's worked on. Just my thoughts. They could be wrong but after pushing 5 years of research i don't believe i'm wrong. I also just think eventually some project will come along that understands this and benefit from it. I hope hive doesn't get left behind if this happens.

At the same time don't get me wrong if you find benefit in the system and use. By all means use it. It doesn't benefit me significantly i just use many of the blockchain social media sites to promote crypto things. I don't really look at them as investment models. I don't think they do that well. I think ideas like sound money and integrating crypto as a currency into other successful projects as an optional payment ay be idea. However closed looped systems like this beyond just media and promotion don't really appeal to me.

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Lol this portfolio game is a bit funny sometimes. Losing amounts without actually having them in the bank or readily convertible. Of all the portfolio games though, none brings as much excitement like hive and the joys of staking and earning from increased stake

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I think it more than fine if Hive settled back to a $0.80 to 0.85 range after the dump. Staying at the $1.00 would be nice but as long as Hive continues a steady climb. Besides I don't have the time to watch the Hive price hour by hour anyway.

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I don't understand the financial side of HIVE, so I don't touch it. :(

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I sold some and just bought it back now. x1.4's my Hive. I just moved a bit as I agree with you. $10 Hive is around the corner.

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Those hype train always left the station without me. I will stay locked as I am.

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Great Info, I think its a perfect proving ground that Hive will only be moving forwards at the moment. Its a good time to stack up. But hey its always a good time to stack😁 Great article

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That means a lot more holders are going to be sitting on liquid Hive this time around.

I’m guilty here, I find myself buying hive, to stake and leave the liquid for future pump

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👍🏻 I am fully your opinion.
📈 We are higher than a few days ago and what really counts is we are building something Special, something great here! What do we care whether Hive is 70 or 80 cents or 1,50 $ if we could well go towards 5-10 $ in a few years Time!
💎🙌🏻 I am hodling on to every Hive I have and won‘t sell anything before 2025 or 5$!

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"This has all happened before, and it will all happen again."

Quote from cover image

This is true, and there is one question left unanswered: What is The Plan?


What you say in this post is true, and we need to have a sense of perspective so that we don't go crazy over the ups and downs of HIVE. Regardless of where HIVE finishes by EOY 2021, it will be far better than it was at EOY 2020.

Whether the price of HIVE goes up or down or to a new ATH every day, we each need to plug away as best as we can in our own ways to make Hive as a whole and LeoFinance in particular places where people want to be. We're not going to get help from the Web 2.0-supporting media, so we have to do it ourselves.


Getting back to the RDM version of Battlestar Galactica, Cylons and Colonials reached Earth only to discover it was a nuclear wasteland because... "This has all happened before, and it will all happen again." This forced the Cylons and Colonials to search for an alternative home. Fast forward to the end of the series, the primitive planet they discovered ended up becoming Our Earth in Our Past.

What does this mean? Refuges from Web 2.0 services may discover alternatives within Web 2.0 or in Web 3.0, and they may be disappointed with what they find there. When they finally discover Hive, it will be the start of a new cycle, or the cycle will be broken.

For another example of this, let's remember a small group of freedom fighters looking to bring people out of a simulated existence and into the place known as Zion. A few of them opened Door #1, but it was the last one who chose to break the cycle by opening Door #2. After several repetitions of the cycle, The One broke that cycle.

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The dump was obvious. I was looking at the pump live and personally, I managed to sell at 1.4$. I am a scalper so it makes sense for me to buy and sell periodically.
For long-term holders, I suggest not to look at the chart just check the price once every month. I do the same for my long-term bags. And eat healthy because it helps to stay away from crowd and noise in the market.

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