Bitcoin has hit his all time high last month and we thought, that it will take the Alts with it too. Some of the Alts hit there ATH but those who are old and slow movers. One of them is Hive where we have seen Hive touching $0.5 for some time before going down again.
PC: CoinMarketCap.com
As of writing the Hive price is almost half of thar it was in March. If we compare it with the Bitcoin, yes the Bitcoin has gone down a bit but Hive has taken a lot of beatings. In the last 1 day the Hive has gone down by 5%, and the question for everyone's mind is when will Hive recover.
The problem is more and more people actually invest on something which is new and unique and thus they try to invest so that they can see their investment growing. Now with Hive, there is nothing new as such to be honest. It is the same old blogging platform where people earn money. Some buy Hive who needs to improve their Hive Power, some sell because they have to use it for their livelihood.
But in the whole cycle we are not actually seeing some major investment from big guys. We are a small minnow where we earn Hive by posting and occasionally buy the Hive from the market. But until and unless some big investors invest on Hive, I really don't see any improvement on the Hive price.
To attract the investors every blockchain should show something unique and new so that investors will believe in that project which can actually bring value to the investor. Now if I consider Hive, we actually don't see something major happened in it. And until and unless thar happens I feel the price will fluctuate in the same price point.
Yeah if the Bitcoin goes up again and touches a new AtH or any Alts season comes back we can see Hive going back above 0.5 again but beyond that, I really have a doubt.
What's your take on it?