What a day to wake up to... After staying flat at around $0.7 for about 24 hours, yesterday and well bellow $0.7 for about two weeks, HIVE has managed to do a pull up to almost $1.5 in just about an hour, last night. Koreans are to be blamed for this massive upwards movement. What's behind their pump, you might ask.
I literally have no idea, they've played with HIVE similarly in the past as well and they've done that with STEEM too. It's worth mentioning though that even during the summer meltdown, HIVE hasn't corrected too harsh in comparison with other coins across the board.
I believe that has helped a lot in that regard. Will we have another game built on Hive to push the mass adoption of the blockchain and drive the appreciation of the price further up? Probably, if Splinterlands is working, why others wouldn't try and build "the next Splinterlands" on the blockchain...
I was discussing yesterday in a post about the $10 HIVE and what that would mean for me personally and for probably most of the content creators around here and seeing how HIVE has literally doubled in price in a matter of an hour with volume coming from the Koreans of close to $1 billion, it is definitely achievable.
As has wrote in a post earlier today, it's probably the time when HIVE becomes a serious investment asset, or that serious investors are turning towards HIVE. Either way, this thing is no longer just a test blockchain. It's matured and the growing process is in full swing.
Personally, after seeing the move of today for HIVE, I believe that $10 by eoy is more than achievable. I wouldn't be amazed if that would happen even sooner. Look at SHIB, DOGE, LUNA, SOL and others... What price performance these had, and what fundamentals they actually have... :D.
SHIB has basically nothing to "back its price performance" while Hive is a real life working project. We have the bull market momentum on our side, thus I believe we will see HIVE at $10 by EOY, probably even higher. I wouldn't bet for much sustainability at $10 and above, but my gut feeling tells me will reach that.
What do you guys think though? Share your views in the comments section and you shall be upvoted :D.
Thanks for attention,
Adrian