As I write these words, Bitcoin has reached $41,400, and is now at its highest level since May of 2022.
I can't help but wonder whether this means we are about to start the next Bitcoin bull run. And beyond that, I can't help but wonder whether we're going to have an altcoin rally as well.
I'm sure these thoughts are on a lot of people's minds these days. Seems like we have been in a valley of sorts for a really long time!
I look at our own Hive token — which is currently trading at about 36 cents — and I suppose you could make the argument that we've had a good year because it's up from 25 cents at the beginning of the year.
The funny thing about numbers is that you can pretty much make them do anything you want them to!
Certainly, you can honestly say that Hive is up by 40% since the beginning of 2023, but 2022 was such a disastrous year where we started the token at $1.60 at the beginning of the year and lost 85% of the valuation by the end of the year.
You have to be mindful of how you look at numbers, and what you're comparing to! "Massaging" the numbers is one of the things marketers often do to pull the wool over people's eyes!
Having been part of this community for a long time, one of the things I really like about longer term upward trends — particularly those that have strong moves — is the fact that the overall atmosphere of our community gets a lot better.
Of course, activity levels increase considerably simply because of people who come in and want to profit from the rising token price, so they start posting again, but the good thing is that long timers start feeling better about things again and add a more positive vibe to the overall atmosphere.
It is an interesting time of the year for this upward move to start.
We are coming up on the end of the year, and for many people that means getting ready to set goals and ambitions for 2024. I am sure a strong December will have a considerable influence on what sort of targets people will set for themselves for the new year. I know it definitely will for me!
I could really use a good year for a change! Both 2021 and 2022 were quite disappointing here at our household.
Allegedly, markets are considered "smart enough" to accurately value what is being traded... and yet, many of us feel like Hive tokens are undervalued, compared to so many other projects out there.
I'd like to think that a strong overall crypto market would help Hive reach what seems like a fairer value, as compared to the level of activity and development we see around here. Of course, financial markets are often fickle... and have a tendency to run more on rumors and innuendo, than on actual facts and fundamentals.
Regardless, I think we have exciting times ahead!
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Curator Cat, 3rd December, 2023
All images are my own