Each and everytime we think, 'this must be the floor', HIVE has shown us that no, its not, we can go lower.
Into the 1300's, we stop to ask ourselves, is there any limit to how low HIVE can go? And will it ever come back?
We were buying up STEEM near 10 cents thinking the same thing. Then the Valentines day 2020 announcements kicked in, and over the course of the next several months, we had a few exciting and dangerous time, the result of which was a pump, fork and moon.
Now HIVE is not yet at 10 cents, but it is below the 1477 sats that STEEM was sitting at then, with a much lower BTC price.
There was a time to buy, a time to sell, and have we now reached a time to buy again?
The weaponized dollar is still affecting markets, as we mentioned over the weekend. But notice that despite spending more than half the time in the red, the price of BTC continues to rise in its localized channel.
Even a recent announcement of ARK partnership with HIVE was not enough for more than a minor pump for HIVE among a strong BTC sentiment. We have incorrectly reported this before, but from our eyes 10,000 is now a resistance that is proving hard to imagine being broken by BTC, which means HIVE future, unless it can break out of it, seems to have more downside than upside.
HIVE should get its chance to moon though, if developers will continue to actively seek solutions to build upon.
https://twitter.com/arkecosystem/status/1311697879371837440
- arkecosystem
Each token project floats in the Crypto Ocean, up and down with the waves of BTC against the USD beach. At risk of extending this analogy to far, we should mention the observation that the quality of the USD beach appears to be eroding drastically, and thus is it unknown for how much longer this USD will be there to compare the BTC to.
Sink or Swim, crypto projects. Got a great idea? Now is the time to build it!
To our eyes, HIVE has more tough times ahead, with no 'floor' to cling to. But it should get a chance to take a shot.... A worthy addition to any portfolio if you can identify the right price!