No Longer Bearish On Hive + Potential Witness Node
Well then, that's not what I was expecting.
See where we pumped from 3500 sats?
I was expecting that exact movement except in a downward direction.
This price action gives me pause.
At this point I'm more bullish on Hive at 5000 sats than I was at 1500.
I still value Hive at 80 cents minimum, so 40 cents is still a sick deal.
Justin Sun: where'd you go?
What happened to the selling pressure?
If JSun is out of coins (or simply afraid to sell at that level) that is hugely bullish.
Take a look at @binance-hot
They only have 1.9M liquid coins left.
They are about to go insolvent again.
The exodus is real.
They used to have x10 that much liquid.
If they run out of liquidity Hive will go on discount as the powerdown continues.
Bought 5k coins just now.
I'm very committed to getting back to Orca status.
It's only a matter of time.
Taking a look at liquidity.
- Bittrex: We've got around 200k to 4500 sats and a 500k order at 3k sats.
- Binance: 365k coins of liquidity down to 4500 sats.
- Huobi: 145k coins liquid down to 4500 sats.
Huobi
Here's where it gets interesting.
Millions and millions of coins have entered Huobi.
This info is 4 days old. @penguinpablo
We see that Huobi is now our biggest exchange!
Crazy!
Again, this info is 4 days old, and the amount of Hive on Binance is WAY LESS THAN THIS TODAY.
Why Am I making a big deal out of this?
Well, we can see that Binance has like double the buy liquidity of the other exchanges down to 4500 sats, but it's Huobi that has all the coins.
I interpret this information as pretty bullish. I think Hive is volatile, active, and alive at a time when the rest of the market is very boring. Hive is a trader's dream right now with how volatile it is. Speculators gonna speculate. I think we are going to see a ton of upside action from here just from traders seeing we were just at 12.5k sats and now we're at sub 5k.
Our lack of liquidity is going to start kicking in very soon. Everyone is bullish on Steemit Inc being cut out of the picture. The proposal to airdrop users who voted for sockpuppets is losing 10:1. Once Hive is trading higher than $1 everyone is going to want to power up and have that super strong upvote, further cutting our supply. Things are looking very up for our Podunk shitcoin.
WITNESS ME BLOODBAG!
I've been approached by someone to be part of a shared witness node, and I have agreed. We'll see how it goes. It's all talk for now.
I feel like with this shared node I can get a lot done, and will have a lot more incentive to learn and work on my projects.
Conclusion
Hive should have crashed more. We have a way bigger market cap than Steem and millions upon millions of coins have been dumped, yet here we are, ascending higher.
This very well could be an EPIC bull trap, but with this much liquidity to the downside, it's hard to see it that way. These buy walls are fucking massive and across the board.
Unlike 99% of the time, I've actually held on to some Bitcoin so if we do dip, I'll just buy more; sorted.
Back on the bull train.
CHOO CHOO!
I was really happy to see the pump last night... we kept and eye on it while streaming, it made for good conversation.
Dat WEDGE Doh!
I like the idea of Shares in a Witness. HIVE is like High School, not Fight Club. But they're similar enough to see the point in all of THIS. Take Care man! I have my agenda set.
Hey @edicted I saw your huge post of yesterday about witness. I didn't finished to read it all...a lot of info!! I will be happy to support you with my tiny power. I enjoy reading your posts, we have the same point of view on many topics, and thanks to you i'm improving my english and my knowledge!
Have a good day!
I think it's great you might share a witness node and to see hive doing so well after all the problems we faced with steemit.
Do you plan on selling some hive for bitcoin for the possible bitcoin bull run after the halvening which may bleed the alts or do you think alt-season is round the corner too?
I think it's very possible that "alts" run up with Bitcoin and even out-perform it during the next big leg up. They've been getting stomped for over 2 years now.
That being said I don't even view Hive as an 'alt' anymore.
We appear to have decoupled from the market completely.
We are no longer ruled by a central authority.
We have worldwide notoriety and we've proved DPOS layer 0 is stronger than expected.
My main coins are Bitcoin, Ethereum, and Hive.
I've got my POW coin, my (soon to be) POS coin, and my DPOS coin.
I'm good.
Yeah you're right, Hive is completely different which makes me very bullish.
Are you still holding Steem since it has gone down so much or completely moving to Hive?
I'm powering down.
Not sure how much Steem I'll hold.
But it's hard to hold Steem when Steemit has a history of freezing accounts that supported Hive.
Have you also considered Monero to your list which is a good privacy coin?
Yes, Monero is great and privacy is important.
However, I'm at a place where I'm only going to invest in networks that I actually use. When I start using Monero it will surely make the list.
Will vote for you once you let us know. I've learned so much about this from you over the last year and a half since I discovered you here. Some of what you talk about still flies over my head, but I figure with time and enough repetition this old guy will get what I'm missing now. When I did my post on someone should come up with smart contracts to create a market for direct buy/sell hive, I only understood the whitepaper of the exchange doing it with Bitcoin/Ethereum due to reading your posts, lol.
I felt this leading into yesterday too. My previous weeks powerdown at Steem saw me parking it into Bitcoin waiting for things to stabilize. Yesterday when I powered down I went ahead and traded it all for Hive to power up instead of parking more in Bitcoin. Oh well, at least I can say I held a small fraction of Bitcoin for a week, hahahah.
I also initiated cashing in my HBD into Hive out of fear Hive will move back up soon. You're committed to Orca, I want Dolphin (for now). If there was an easier way to buy it would have already bought my way there now with some of this gubmint Corona monies.
You remind me that i haven't checked the internal market in a while... Still sitting one 400 hbd
There is every reason to be optimistic about Hive in my opinion. The token, well markets go up and they go down. You reasoning here is sound and could well be the start of a large move up. Even in a bull trap, there is an opportunity for profit.
If the Binance selling is tightening due to a lack of liquidity, it will be a factor in a run up. A lack of liquidity could cause a big jump as the squeeze comes.
It all depends if the "buzz" around hive keeps going.
Posted Using LeoFinance
I see what you did there
Only the wittiest can follow that wit.
Or maybe not. LOL
Posted Using LeoFinance
lol when have you not been bullish xD ?
When I sold 10k coins at 2400 sats and then the price spiked to 12k... you know... exactly the worst time. as always.
I feel you, but I sold at 3k sats
I figured we were always going to get support around 40 cents after the dump had begun as it's become a bit of a key level. Think we still have a little bit of washout to come yet so I am calling bull trap at this point. My buy zone is still in the low 20s at the moment.
I'd love to buy a bunch of Hive right now, but that would take money that I don't have right now. I started a powerdown on steem before the split happened and I've been converting the steem to hive as I get it. The good thing about that is it pushed me over 5K hive, which have almost all powered up. I guess I'm a dolphin or something now on hive, and I still have more steem coming to convert, although the conversion rate is getting worse now with the value of hive increasing.
some new listings and fomo would kick in the prices high soon
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