To say that the last month has been a little rough on Hive prices is an understatement. While it feels great to see a mini-pump back up to twelve cents, it sure makes me miss eighteen cents! But things could honestly be much worse, and we have been lucky that Bitcoin is holding on strong at it's support level of $100K. Yesterday it dropped briefly below that level which personally deeply worried me, but buyers came to the rescue.
While it isn't testing $130,000 anymore, just staying in the six figure territory is a very bullish thing for all BTC and cryptocurrency holders. As long as we stay above that huge psychological barrier I think we may see some recovery overall in the markets. At the bottom of the BTC chart you can see where I have circled the volume associated with the years. The first shows the last huge bull run and the current bull run. You can see just how much higher the volume is today than just a few years ago and it doesn't really look like it's going to stop any time soon. Which is great news!
Now moving onto Hive we can see the last 24 hours we have had a nice little push up to twelve cents. I hope it lasts, but it BTC drops again we could be seeing nine cent Hive which is a scary proposition. I also circled the volumes over time on the Hive Chart and you can see in the last bull run it was very high, then looking at today it looks like a flat, lifeless EKG.
Compare that to 2022 when Hive saw the all time highs, the volume and excitement was very high.
Unless we can get more people interested in Hive through true marketing and proper use of DHF funds, Hive may continue downward. While marketing does not fit our decentralized model, it may be time as a community to make a change and look into effective mass marketing done by a true, proven cryptocurrency marketing expert. What's you opinion? Any thoughts on how we can truly improve the visibility of Hive?
Moving onto my Hive goals for the year...
Hive Power
After reaching my HP goal of 10K HP earlier this year I upped the challenge to 13K HP. At the moment I have 12,000 HP which is up 165 over last week. Not too bad! So if I add 142 HP per week over the next seven weeks I should make it. We'll see what happens... My rewards have been down significantly over the last two weeks which may make reaching that goal unrealistic...
HP 12,000 (92.3% complete)
New Goal: 13,000 HP
My second level token investment strategy has changed significantly over the last few months. With the crash of several projects such as dCity and the BRO community along with it's tokens, I've become much more selective about the projects in which I will invest. I will continue to invest in DUO, but I've shilled it too many times here already. So today I will focus on another one I really like!
PAKX
I will be continuing to slowly build up my PAKX supply, it's a great project backed by two HP per PAKX and that will be going up in the future. Plus it does pay out liquid Hive dividends and provide curations to holders.
It directly helps support the Hive Pakistan community to recruit and retain new talented authors here on Hive which is a very positive goal in my mind!
Goal: 100
Currently held: 110 (110% complete)
One more goal completed on the year's check list! I'm sure next year I'll be setting the goal ever higher on this one!
Precious Metals
I have invested in precious metals since I was young, and I'm glad I did. As the world becomes more and more messy economically, holding precious metals in addition to crypto is a smart way to build you personal wealth. Silver is currently $48.23 per Troy ounce and gold at $4,000 per Troy ounce, much more expensive than a year ago but they have dipped from the highs earlier this year. It's a great time to buy while they are "on sale" in my opinion!
You don't have to be rich to invest in precious metals. If you start small and build up your stack of silver or gold every week or two over a few years you will amass a lot of valuable precious metals. It doesn't have to be something expensive, maybe an old silver coin and make sure to pay close to the actual silver price. Even old jewelry at the right price can be a good investment. The trick is taking that first step and making that first buy!
I'll be back tomorrow with my day 2 of the Silver Gold Stackers Twelve Days of Christmas with another item very high on my wish list!
Saving is very important, and it's never too late to start. But if you never start you will regret it later in life! You owe it to yourself and your children. That will do it for this #saturdaysavers post, I hope you enjoyed it. Please feel free to leave any questions or comments below, and as always thank you for all of your support. Have a great weekend everyone!
References:
https://www.coingecko.com/en/coins/bitcoin
https://www.coingecko.com/en/coins/hive
Disclaimer
I am not a financial planner and this isn't financial advice. Please always do your own research before investing your money. You worked hard enough to earn it!
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