Good day Hiveians!
Join me in analyzing the crypto markets!
Just 10 days ago we had 2 billion (!!!) daily volume
I honestly can't wrap my mind about it and I have never really seen anyone point it out. It's like "yeah, we pumped and dumped like always..." But 2B is just insane for a single day, especially when one realized that there are ~500M Hive out there. In $ value this equated to more than $600M... in a single day. Not a lot of chains can say that about themselves. And yet we are still in the #300+ (which isn't terrible, but not great considering the amount of game changing dapps we have built on one of the best chains out there).
So why is this a big deal?
Because the last time we have seen such volume candles and pumps (and dumps) we entered the bull run phase that lasted for almost a year in which Hive went from 10 cents to $3.4. The chart is looking extremely bullish even though price dumped back to almost 22 cents. The pattern we are seeing is the exact replica of 2021s pumps & dumps which took us higher and higher.
- 2021
- 2024
Sure, there is still a bit to go for the first stop to ~$1 levels again, but it seems to be the same setup indicated by the large volume spike which we haven't seen since those days.
Prediction
I am boldly stating here that we will see an incredible pump similar to what we saw 10 days ago taking us into the 40s and quite possibly the 60s in essentially one go. The overall movement would lead us to ~$1 levels over the next 3 months.
Here is the exact path Hive will trace :P
Don't panic - this wouldn't be the end of it. The bull run would of course last until late 2025 which would give Hive enough time to break its ATH.
Conclusion
Don't expect too much from this prediction. It's a shot in the dark, although not entirely, since I have already managed to predict Hive's path more or less correctly since June. Alt season is about to start (probably Dec/Jan with BTC.D topping out at 66%+) and Hive will be no exception in making crazy gains. For that I am certain since South Koreans decided to go in big again.
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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