Good evening good people of Hive land, I hope the day finds you well. Nice and sunny here, which always helps. Hope you've got some sunshine in your corner of the world!
In this post I want to explore a set of very interesting statistics I have come across regarding the price of Hive and the performance that's expected of it. The data I have relied on for this analysis has come from the digitalcoinprice.com website, where there is a comprehensive set of statistics regarding Hive price predictions.
Digital Coin Price and Reliance Of Data
The site has explored with great depth what it believes Hive will achieve not just this year but in the following decade. But the real question has to be how reliable are these figures? And can we trust them? Price forecasting can be a very unreliable arena of thought and conjecture but many theories often do play out accurately.
It seems that Digital Coin Price (DCP) has earned itself a reputation for trust over the past five years, when it launched in 2017. Within the crypto community I have largely found good things regarding the site, and it does appear to have built up a reputation for trust and confidence. So for the purposes of this assessment of the price of Hive I am satisfied that the figures used represent realistic prices.
Hive Price Forecasts 2022-2031
Source: Digital Coin Price
As you can see from this chart DCP has predicted very specific price fluctuations for Hive all the way to 2031. The good news is that the general trajectory for the price of Hive is a positive one with the price reaching an average of over $3 by 2031. Now, given that last November we saw Hive hit $2.90 during the bull run the figures in this chart in my opinion are actually conservative, I think the price of Hive will be higher. If we get another decent bull run again before then, as we almost certainly should if the 4 year rule is to play out, then I think we will see Hive surpassing $5, easy.
What we have to bear in mind when evaluating these figures from DCP is that the price fluctuations in the chart do not take into consideration a new bull market scenario. The figures represent what Hive could achieve organically over time as it builds up long term growth.
Hive Price Forecast 2022
Source: Digital Coin Price
So lets now take a look at the price forecasting for Hive this year. DCP has stated it believes that next month the average Hive price will hit $0.71, up 15% from this month. That would certainly be welcome news indeed. Let's not forget we are in the midst of a bear market and for Hive to achieve that price mark is quite an accomplishment. DCP further states that in September Hive could reach a top price of $0.86. Now that would be something special.
In October we're looking at a slight increase with an average price of Hive at $0.72 but with a reduced top price of $0.77. In November there's not much change where Hive will average at $0.72 but increasing its top to $0.86 again. Come December we see a slight increase of the average price to $0.73 and a top of $0.79.
So the general trend for the rest of the year is one in which we are seeing some new foundations being built here in my opinion, where Hive is slowly but surely strengthening itself with sustained price climbs, albeit not a huge scale. But the direction of travel for Hive is moving in the right course and that is very encouraging.
Hive Price Forecast 2023
Source: Digital Coin Price
Hive Price Forecast 2024
Source: Digital Coin Price
Assessing the price forecasts for 2023-2024 what emerges is a story of success. You can clearly see the Hive token locking in gains and continuing to sustain those all important foundations. There's a lot of sideways movement in 2023 but when we get to 2024 we see that Hive is moving closer to the $1.25 position.
General Trajectory
It is very clear that the picture being painted for Hive is a very bright one. Today's Hive price stands at fractionally under $0.60. As I must emphasise again we are in the middle, or perhaps the end of the start, of a bear market and for Hive to be achieving a price around the $0.60 mark demonstrates a robustness you do not find with many, or even most, tokens out there. If these statistics and price forecasts are to prove accurate, and as I previously mentioned DCP has built up a reputation for trust, then there is a very rosy outlook for Hive.
It seems to be a token that is more than buoyant. There is a strength within it. Hive appears to be a token that is bursting with energy and is very keen to move vertically. Once the bull starts running again I think the forecasts DCP make are too reserved and Hive will do some amazing things going well beyond the $5 mark.
Peace and Light,
GoldStreet