Hello to Hive Fam,
There is a flash crash in the crypto market, and the entire market is red with a bigger drop in prices for almost every coin in the market. For example, if you talk about Bitcoin, then it is trading around 112K US dollars with the market dominance of approximately 60%. I use some of the applications for cryptocurrency updates, and yesterday I was getting continuous updates through the notification that these coins are down by a certain percentage, and it was happening continuously, so my phone was continuously buzzing with those notifications. It's already, and I was not sure of the region, so I did some research on the Internet and on social media and figured out that this is all because of the tariff war, and all this happened the US President Donald Trump for making things worse.
I have never seen this kind of dump in the market, so it was surprising for me because in the stock market, I have not seen this type of liquidation happening in just one day, and because that market is regulated, when something like this happens, then a lower circuit is enabled. The crypto market is not regulated, so there is a lot of manipulation, but it is still the kind of dump we have seen in just one day that is very big, and a lot of people are sharing their losses on social media as their portfolios are down by a very big percentage. Most of the traders trading futures are highly impacted because this crash was not expected, and obviously, it is hard to predict the market, but generally, this type of crash we just can't expect and predict, but still it happens.
I checked the price for the Hive coin, and I was shocked to see that its price is below 15 cents. I have done some buying for the hive in the last few weeks, and as I already said that this type of crash was not expected, so I would have waited for some more time so that I could get more coins for the same money that I invested.
I already invested all my USDT to purchase Hive a few weeks back, so I have no USDT left in my wallet; however, I have HBD lying in my wallet. Even I used almost 400 HPD last month to convert into hive at the price of around 19 to 20 cents, but just imagine if I had waited for some more time than today, the quantity I got could have been much higher, but that's the market and we just don't know what's going to happen in the next moment in this market.
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I used 70 HBD to convert into hive, and I'm happy to share that I got a fantastic rate, which is like I got 7 hive against one HBD So roughly I got 350 hive for 50 HBD in one order and around 138 hive for 20 HBD in another order. This is the best price I have got in the market for buying high, so I'm happy, and now since I'm not left with any HBD, but at this price I believe it is still worth buying more high, and it is like go for it as much as possible, but unfortunately I am running out of funds. I'm new in this market, and it's been a year approx for me so I don't consider myself an expert but these type of incidents are helping me to learn and get familiar with these types of situations So it's like at every point of time we should have stablecoins available so if there is any opportunity like this we can grab it well.
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Image Courtesy: coinmarketcap.com website