Hive Clearly About To Break Out - Trading Journal (1.21.20)

Hive About to Breakout?

Hive's internal market is clearly showing low supply of hive being sold at around 0.15 HBD per Hive currently compared to how much buying there is in Hive. This is a sign Hive price is likely to break out to the upside. Low supply but big demand.

I decided to take a significant loss and convert all my HBD into Hive and HLOD it until the dwindled supply of Hive at the current price is all removed. Higher prices are set to be come very soon.

The law of supply and demand is playing out and those who are trying to hold down price of Hive may have a hard time now that the open market demand for it is real and strong. Once those whales who are selling into this Hive demand has their own Hive supply depleted the only thing left for Hive is rise in price.

Why Hive Goes Higher?

Although my reward posts will now dwindle a bit since Hive prices are higher I still want Hive to increase in value as it deserves to be higher with all its utilization. Hive blockchain has one of the most active crypto games in Splinterlands presently. Not to mention hive's second layer tokens as a whole is worth millions of dollars that has not be calculated in the crypto universe. Then there are multiple games with NFT cards and there is NFT art. Multiple other uses with Hive and transaction fees are zero and speed of transfer is instantaneous.

None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!

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