Well I don't know about you guys but I simply have to comment on what I am seeing with the performance of Hive. Last week we all witnessed it hit a recent high of $0.44. Trading volume rocketed by 5000% in one day which was largely responsible for the price surge. This voluminous trading volume occurred on the South Korean crypto exchange Upbit.
Take a look at the Hive trading activity on various crypto exchanges and you will see what I mean.
To begin with it didn't look a normal pump and dump as the price sustained for a few days. But as we can see now Hive has dropped back to around the $0.33-34 mark.
(Hive 7 day trading chart - Coinbase.com)
However, the position Hive is in right now is a surprisingly good one given that we are not in full blown altcoin season. Yes, the alts have started to move since Bitcoin mooned but they are still not moving considerably in the vertical direction just yet. Hopefully though we will later get our long anticipated and strongly longed for alt season.
The interesting thing though is that Hive has retained some new found resilience and hasn't dropped back to a lower price, which many, including myself, were thinking would happen. Hive's performance is strong right now and is hopefully locking in foundations for a proper bull run later on.
If you need some more evidence just compare the price to Steem for a moment. For the past six months Hive has barely been one or two cents higher than the price of Steem. Take a look at the price of Steem right now and you'll see it's currently trading at $0.27.
Hive has now widened the gap with Steem and is currently trading at $0.06 more than Steem. This is an encouraging development. Let's see if Hive can sustain this momentum.
In my humble opinion Hive is doing just fine right now and is building some solid foundations to position itself in the most optimum place to maximise any potential bull run.
Peace!