It has been tough days for many cryptocurrencies and it has been the same for Hive as well. The amount of Hive that is going to the market for selling is more than the amount of Hive people buy and that's the simple reason why the price keeps falling. It makes people feel like there is nothing interesting on Hive than blogging and a few games on Hive. This are very slow in the crypto world and that's understandable but at the same time in general Hive is also struggling to get to a better price.
Depleted the investment sources
Many people who truly invest in this platform have also depleted their investment sources. I had some HBD in savings that was giving me a constant 15% APR and I broke that savings to invest in Hive. After I purchased Hive had gone further down. Investing further becomes more like catching a falling knife. Many people are hesitant to do further investments as it is unpredictable.
Source - Sora
I have been in the toughest markets even in the past and whenever the price of Hive goes down the vibes will always be like this but this time it looks a bit different. Earlier we used to have some koreans who pumped the market and I also remember a time when there was a pattern in which they were pumping the market and people were able to trade using that pattern. Those things are all gone now. I feel like we are back to ground Zero and build from here.
5 cents feels very new
Even in the past when Hive was down, we had so much of hope that this may not be permanent and soon the price will recover back. But now the external market is also suffering and not just Hive but other cryptocurrencies are also having tough time. War is happening and so many factors pulling down the price. This price dip makes me feel that it is very new and it can take a lot of time to recover back to a good position again. Even for a slight increase in price there will be selling pressure.
We have to definitely take some action on the amount we are spending on DHF and be sensible about it. The witnesses will continue as long as they are able to cover the costs. I don't know what will happen after that. It will take a lot of time to get back to a good price from here as the current market price is definitely the lowest. But let's all keep the hopes up and keep going. There will always be some kind of miracles that happen. Let's wait and watch.
If like what I'm doing on Hive, you can vote me as a witness with the links below.
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