Hive to the Moon: Why Justin Sun Could Likely Pump Steem in the Coming Days

in Project HOPE7 months ago (edited)

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If anything, the price action of Hive in the last few days has not been anything short of being insanely magical. From a low of about 13 cents about this time last week, Hive is now trading around 90 cents. That is well over 600% expansion in price.

While it is logical to attribute the bullish move in the price to Hive to its rent listing on the Huobi exchange, it is completely unfair to leave it at that. The crypto community is noticing Hive and are thrilled by the fact that, for the first time, a truly decentralized blockchain-based social media platform is evolving before our very eyes. And everyone wants to be involved in the party which, If you ask me, is a good thing. Hence, the recent spike in the price of Hive.

Now, for anyone who has been monitoring the cold war between Steem and Hive, between Justin Sun and the community, would realize that the battle is far from over. In the previous weeks, we've seen what seemed to be an inverse relationship between the price of Hive and Steem. And this is not unconnected with the fact that Steem is constantly being converted to Hive and vice versa.

With the price of Hive now almost 5 times the price of Steem, more people would likely be reluctant to convert their Steem to Hive. Instead, we could see a trend reversal, that is, some investors trading their Hive for Steem in order to buy more. If this happens, which is not unlikely, we could see some improvements in the price of Steem, as the 12 hour charts are now indicating.

Finally, there is a strong possibility that Justin Sun would do everything possible within the next couple of days to personally pump Steem in a bid to show that the project is still alive and kicking - contrarily to what is being reported in the mainstream crypto media. Consequently, this writer will not be surprised if Steem begins to fight within the next weeks to catch up with Hive, even if it cannot surpass it.

DISCLAIMER: The views expressed in this article is strictly based on the writer's opinion and does not in any case translate to a financial advice. Therefore, the views in this article are solely for entertainment purposes.

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Why did you use that image without placing the origin of it?
The character in the image is a renowned blogger, his name is Scott Cunningham, site: https://www.scottcbusiness.com/

Thanks for the info. My action is protected by the Google fair image use policy. Cheers!

That's bull you've been awarded a flag
IMG_20200429_000003.jpg

Even the origin wouldn't matter still need permisson

This is beautifully written. You're right. Justin Sun is despirate to prove that steem is well and alive by pumping it's price. This to me, is even good for me and others powering down because it'll help me raise value to I could see sell my Steem

Thanks my good friend @josediccus. Seriously, I hope that happens too but it will be a very tough task. Yet, we can only hope it happens. Cheers!

I also hope Justin Sun will pump Steem to "retaliate" 😉

I hope so too. Good to see you @culgin. Cheers!

I hope Justin pumps steem so I can sell it at a better price (I still have 9 powerdowns to go), but I wouldn't hold my breath.

Let's hope that really happens. The signs are showing already.

I am hoping for the same... and I am hoping that the Hive pump will last longer, so that I can get some more powered down and sell before it dumps! :)

Man, it is happening as we speak :) Steem just reached 3500 Sats, curious to see how it will develop...

Resteemed already. Upvote on the way :)

Hi @gandhibaba

I just woke up, looked at price of STEEM and I was like WTF. I'm guessing you were right buddy

Enjoy your upcoming week,
Piotr

I just woke up, looked at price of STEEM and I was like WTF. I'm guessing you were right buddy

It may be too early to say for sure what's taking placing with Steem, but the handwriting on the wall is kinda clear. Let's see what happens. Cheers bro. Have a great week too.

1:0 for Hive :)

Hello there @gandhibaba!

I don't want to ruin the party, but if this was all a strategy of J.S.? I understood that he has influence over the Huobi exchange. If all this was for him to provide it and finally eliminate Hive from the competition after a big dump?

For some reason, I'm waiting to wake up from a nice dream. It's too good to be true. Do you understand me?

For the first time, I wish I was very wrong.

Thank you for sharing :D

 7 months ago Reveal Comment