Hive at $0.83 and Leo at $0.156
At the time of writing this post the price of hive has declined 7% more to a new low of $0.83 from its high of $1.21 per piece just a month or two ago.
This is obviously not a fundamental weakening of the coin but more of a reaction from the global selloff in the stock and bond market. I predicted this selling pressure in my post yesterday here .
The world economies are simply facing recession risks and immediate interest rate hikes with soaring inflation.
Did you not understand the above buzzwords ? No worries let me explain it to you..
It basically means that the whales of the market suspect significant decline in securities and moving to hold cash or gold and silver instead to avoid capital loss.
Why do they suspect the decline..?? Well it is a combination of hyperinflation which will kill consumer demand and cause less profits for corporations hence essentially causing a global slowdown.
Gold and Silver
The only people I think are happy in all of this are the gold and silver stackers. (Click here to visit the community and help it grow)
Gold is up by 1.02% for today and silver is up about 1.50%.
I have also predicted that in precious metal bull markets silver will always outperform gold because of how undervalued it is.
I expect these metals to grow significantly in near future and I am certain of that because of rapid devaluation of fiat currency around the world.
Glad tiding to those who hold physical metals. They shall survive the winter.
Why crypto ? What's hive got to do with any of this ?
Just like I have been saying this continuously before that Hive price is not only the Hive ecosystem, it is influenced by the Bitcoin's price or the whole crypto market in general and that crypto market will see selling pressure due to global selloff.
It has been proven time and time again. I am from India and today is Monday. Our main Index fell from 17500 rupees to 17100 in a single day...!! More than 2% decrease and the crypto market has already reacted to it. I don't know what'lo happen after US markets open in few hours but I am not too hopeful ngl.
What am I doing ?
For me and others who consider Hive to be longer term investment/involvement of let's say 2-3 years then this should be treated as a discount on the Hive price and will motivate me to buy more.
Currently, I am holding around $50 worth of dollars and will be adding more to buy Hive for a larger discount than today .
Yes , you heard it right.
If (Hive falls)
then
(me buying it more)
Exit ;
What are your thoughts on it ?
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Take care. Peace out.