Hive price slows its upward movement, after exchanges put their wallets on Maintenance
Let's see
At this time the price of Bitcoin begins to show signs of a possible price recovery
As we see in the graph, Bitcoin has broken a downtrend line, and has recovered 12% from its lows.
In the 4hs chart of Bitcoin we can see a bullish divergence between its price and the RSI indicator, a few hours ago.
We also see that the Funding indicator is under another sign of a possible upside.
Many alcoins have started to show good price recoveries in anticipation of a possible upward movement in the price of bitcoin.
The price of Hive in recent days was in an upward trend, showing large daily rises and with these new bullish indicators it would have to continue in that trend.
As we saw in the previous post, the bullish possibilities are very good for the Hive coin.
Hive (HIVE/BTC) Price Rises - Possible Cup and Handle Formation?
Again the Exchange
As the price of Bitcoin began to show signs of a possible recovery, I was happy for the Hive coin as it would continue its upward trend. If we had big candles when bitcoin corrected, now the price should continue with the trend.
It is to be thought that many Hive investors upon seeing the reaction of the price of Bitcoin will decide to invest more in their currency supporting the currency in its upward movement.
But when I saw its price, I didn't understand what was happening at first. After breaking the uptrend line, which is normal if Bitcoin continues to correct, it showed no signs of recovery. Not only that, but it didn't show any significant variation movement. It had remained almost without movement in the last 6 hours, at the time of making this post.
It seems strange to me that the price did not move in the last few hours, in times of great volatility of other cryptos.
Upon entering Binance I find that the Hive wallet is under maintenance for withdrawals and I begin to understand what is happening.
When entering Bittrex I find the same situation
The Hive coin has a real product and use.
Why would an investor buy a currency if he cannot withdraw it and use his investment?
As the commissions are low it is to be expected that someone will buy the Hive coin and withdraw it from the exchange
They cannot be withdrawn on the Binance exchange, why am I going to buy them if I cannot withdraw and use them? It only allows depositing them, with the purpose of selling them
You cannot deposit or withdraw on the Bitrex exchange, it is under maintenance.
They are preventing these 2 exchanges, their use again if one buys more Hive coins. Giving the possibility of only depositing in Binnance with the aim that you sell them at some point.
In my opinion, they have stopped the volatility of the price of Hive by freezing wallets.
Because I do not know. If you know, comment it, thank you.
What you think? Will the maintenance be for a few hours, will it be another maneuver to manipulate the price of Hive by the exchanges?
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The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.
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