Many bearish technical patterns started to show after a large run up of BTC and alts in 2021, death crosses and head and shoulder pattern definitely shows that there will be no more large gains. While BTC is hovering around 30k, every new drop will plunge alts into pre bull market state very fast. Lower cap coins will be hit harder, as we can definitely witness that with Hive which will go down to 10cents faster than anyone anticipated, BTC needs to crash to 20k for that to happen. I can see that outcome as clear as day. It is a pessimistic view, I would very much like to be wrong here, aka for that big red candle to never materialize.
However many still believe that this year still is the mega bull year where we will see prices of btc at 100k or 200k, you can't know for certain anything in this market but for that outcome to come to fruition there needs to be some mega event that will break all the resistances that formed in the 30k-60k price area. What event could fuel such a move it is hard to tell, we won't know until it happens, if it even happens at all. China news and Musk news will be dwarfed by this big event that could pump btc to new ATH in 2021 and maybe 2022.
When we talk about Hive it was unfortunately largely unnoticed because of staying out of top 200 depending of what coinmarket cap site you browse. Coin Market Cap still is the main indicator for many investors in which coin to invest. Even though we have a fair amount of users, one of the most popular blockchain games and rising number of other interesting apps we just couldn't make a move. No amount of marketing, tweets could help the trouble of low market cap coin like Hive. Returning to 20cents per 1 Hive is one of those unfortunate scenarios that played out way too fast, and we are now in not such a great position to be in.
It is a great position to be in if you want to have more Hive, 10-20 cents is historically a great buy. Will we actually drop down to 10 cents we will know very soon.