I've not had the time to look at the market after two months of battling with family issues and the demise of my brother. However, I decided to take a look this morning.
So anyone who bought Bitcoin at 15k twelve months ago would be in X2 profit, and even over. However, twelve months ago, the crypto market was in chaos, and it was majorly the strongest of hearts that took advantage of that price level.
It was the same for hive. So anyone who managed to scoop it (hive) at $0.15/.16 would be in profit, as it has already rebounded in 12 months and hit some decent level of recovery.
Although it hasn't matched the gargantuan leap that BTC has made in that same period, we already know that BTC leads and all other alts will eventually follow. The truth is that whatever gains we are currently seeing might experience some certain correction either late this month or in early December. This is because for over two weeks there's been a steady positive movement in the market and the corrections ought to have happened, but I reckon it'll begin to happen soon.
To be very honest, we haven't seen any leap in price. The significant leap in price is likely to begin in Q1 after the ETFs have been approved.
I don't think the BTC halving will do so much
.....because it's already an expected event that happens a year before the market peaks, although there will surely be movements, it wouldn't be enough to push BTC past its ATH. I Might be very wrong. Almost everyone in crypto has been wrong one way or another in the past 12 months.
Studying the chart and doing a steady analysis on the price movement will just about show you that the market is following the same pattern it has always followed irrespective of cataclysmic events like FTX and LUNA as well the rampaging chase of the SEC.
However, a lot of people are beginning to make their predictions on what 2024 will look like, and I think I'll quickly do this as well.
I'm not really pumped up about the future, I just want to take one day at a time, so my assessment might be flawed because of my lack of optimism and sentimental bias. (Relating to what's grief that's happening to me) So quick one: I think the first quarter of the year will play a tremendous role in what will happen in 2024. I don't how BlackRock's ETF approval will go.
The SEC might probably want to delay that further, but I think no matter what happens the approval is likely to happen in the first quarter of next year.
I feel that we've not really seen the bull market, just looking at the movement or the price action would give you a little glimpse of what the peak of the bull market might look like. So if we currently maintain this momentum with a little correction here and there, I believe that BTC will match its current ATH of 69k by December 2024.
Let's look at Hive.
Now Hive's previous ATH was $3.4 and because it's an alt and understanding the nature of alt, I think Hive might also be a late bloomer.
I think everything gargantuan that will happen to Hive will likely be in 2025, early 2025,
....but this isn't to say there wouldn't be a significant push in price. I believe Hive might just about do better than its previous ATH/or if it follows the same pattern as 2021, then it might just about double to $6. I don't think Hive will exceed $6 at the peak of the coming bull market. However, I might be wrong, but it's very unlikely.
$6 on the flip side is a very good price, not life-changing but will definitely be life-changing to those who have been constantly accumulating and those who have bought at the dip, it's only a workable plan that makes hive life-changing, without it, nothing happens.
However, I feel that Hive might just about hit $1.7 to $2 by the end of 2024.
This momentum will be carried into the beginning of 2025, however, because people will more likely want to hold on to their coins, and maybe a lot more people would want to accumulate we might just see this happen sooner than later.
whatever happens, 2024 is no longer a bear market year, so irrespective of the corrections that might happen here in there, for crypto, 2024 should turn out to be decent.
Interested in some more of my works