HIVE @ $0.74 - PUMP or a Correction?
It This Another PUMP?
Hive has had a history of occasional sudden spikes in value, mostly assumed to be pumps by investors who want to take advantage of low volume. It's something we often see in "alt-coins" where the value is artificially inflated for a short time for people to sell off a bunch of token.
This might be a PUMP. If we see the value suddenly deflate down to $0.15 or $0.20, and then flat-line, that would confirm that the recent increases in value over the last three months were all artificial pumps.
I always give this disclaimer: I reserve the right to be wrong in my opinions. I am not a financial advisor, I am only giving my opinion. Invest at your own risk.
But What if... This is a Correction?
Yesterday I posted that 0.45 HIVE isn't so bad, but that it's following one of two trend lines, one placing the value of HIVE around $0.45, the other showing it around $0.65.
Currently, HIVE is up to $0.74. It is my opinion that the $0.45 - $0.85 is going to be the range from here on in. Closer and closer to the dream of $1.00 HIVE.
I tend to think that this is a correction and the value of HIVE will wobble it's way up to $1.00 by late this summer, if not sooner. It will take a while before HIVE is steady above a dollar, but I think it's coming.
Wen? Soon. HODL.
Posted Using LeoFinance Beta
Now is $0.80 🤩🤩🤩
Whoo hooo!!!
late summer lol. If its going past a dollar it will do it in about an hour.
I hope you're right!
depends whats pushing it, i think it could be chart based buying which is good but if its Hive blockchain ltd again this is bad. I saw Jeff Berwick mention his videos are being hosted by something to do with the Hive blockchain in his recent video though which his EPIC and exactly what we need. Adoption from influential people being kicked off traditional platforms like YouTube. This is OUR target market.
!ENGAGE
ENGAGEtokens.Way more big pump. I think it was your post the other day that was correct, about the past dip being a good thing, not a bad thing, so you tell us, you seem too be in the know!! Wow!!
Personally, I think it's a correction and HIVE is on it's way up. The dips are caused by off-boarders and they are excellent buying opportunities. I'm sure you've heard the saying "the trend is your friend" and "buy the dip".
Heck yeah!!!!
When HBD dropped to $1.10 a day or two ago and HIVE dropped to $0.45 territory, that left me thinking that the pump was finally over and the 'real' current price of HIVE was probably around $0.45.
Then HIVE jumped to $0.75. However, HBD jumped right along with it (see chart below).
Given the fact that stabilizers are in place to attempt to force HBD to stay at $1.00, any significant rise in HBD above $1.00 suggests to me that some sort of external force (i.e. pump) is at play. However, given that the stabilizers are also putting upward pressure on the price of HIVE (in addition to downward pressure on HBD), if HBD stays high for a prolonged period, that would not mean HIVE's 'real' price is staying put (e.g. at $0.45). A continued lengthy elevation of HBD will no doubt equate to a steadily rising 'real' price of HIVE; there's just no way of knowing what that is until HBD settles down to around $1.10 or less (imho).
Fascinating analysis! Thank you. !ENGAGE !BEER
ENGAGEtokens.Sorry, out of BEER, please retry later...
I think the HBD jump happens because the market price between hive/hbd price cannot adjust quickly enough. When Hive goes up suddenly, it takes a while for hbd/hive prices to adjust and hbd spikes up.
While we want hbd at a dollar, having it worth more is better than having it worth $0.80 or less.
Agreed.
Personally, I don't see a big problem with HBD being above $1.00. However, when investors are holding or purchasing HBD knowing there are mechanisms in place designed to force it back to $1, I remain surprised -- and this tells me there is likely irrational exuberance in the HIVE price as well (just a hunch on my part).
There are clearly not enough arbitrage opportunities (yet) between HBD and HIVE. I think HF25 will help with this (although I don't know enough about the details to speak definitively).
@trostparadox this is a great point from you...