By most accounts we are currently in an Altseason, but not all coins are seeing love just yet...

Defi tokens and projects related to defi have seen tremendous returns over the last several weeks.

Bitcoin has seen tremendous returns over the last several weeks.

However, our beloved HIVE has not seen great returns over the last several weeks.

If you throw out today's solid 10% gain, HIVE has actually been down while much of the rest of the market has been up significantly.

For that reason, HIVE has now fallen outside of the Top 100 on Coinmarketcap.

Check it out:

(Source: https://coinmarketcap.com/2/)

Falling outside of the Top 100 is mostly just symbolic as it doesn't have a ton of impact on the project, but all things considered, we would like to be on the first page of CM.

It likely makes attracting investors easier.

We may need to wait for BTC to hit new all time highs before HIVE really gets involved...

During the last major bull market that saw multiple altseasons along the way back in 2017, bitcoin went up significantly, but it was more than just going up significantly.

It was trading at prices it had never been before.

Once bitcoin broke $1k in early 2017, it was basically all blue skies.

This put bitcoin in the news more than ever before and it attracted all kinds of outside money into the crypto market.

Many of these new players were trying to catch the next bitcoin.

Not only that, but with bitcoin making new highs, every single investor was up on their investment. And if they wanted to lock in some gains or diversify their holdings, the altcoin market offered the perfect opportunity to do so.

Once money started trickling into altcoins, they started going up even more (in percentage terms) than bitcoin, which caused a run on the altcoins of sorts.

I think we will see something like this happen again, and it may be starting already...

However, it make take those blue skies again on bitcoin before we see things start to get really crazy in altcoin land and that may be when we finally see HIVE really joining the party.

Remember, STEEM didn't hit $9+ until AFTER bitcoin hit $20k...

LINK and some of these other high flyers eventually are going to experience profit taking and those investors are going to be looking for where to put their money next.

That is the time we need HIVE to be looking its best and ready to soak up all the incoming investors.

Remember, STEEM didn't hit $9 until after bitcoin had already hit $19k and was on the way down.

I fully expect the biggest altseason to happen after bitcoin peaks.

So, just because HIVE has mostly missed out on the fun thus far doesn't mean it will miss out on all the fun the entire time.

Stay informed my friends.

-Doc