I saw it somewhere that the market chart is just emotions of the wealthy guys and how they feel. Most times they play around with the market chart for some sentiments or the other. We can see the war between Bill Gate and Elon Musk’s company Tesla. Bill Gates occasionally shorts Tesla stocks making the price dip, but does this means that the progress of Tesla is unsuccessful? The stock price of Tesla should be the highest in the stock market right now compared to other A-LIST companies stocks like AMAZON, MICROSOFT, APPLE and more. But does it mean that these other companies are less progressive or not successful in their field?
We can see that in crypto and how people usually react to prices, people react to market charts faster during fundamental news, the moment a positive announcement is announced, watch out how fast people go and react to the market. Crypto has been progressing over the years and have not had any major decelerated progress in the technology. Every year comes with one innovation or creation or the other with the blockchain technology. This is one of the reasons why I am grateful about Hive and how lucky I am to have found it earlier while its still underrated. A lot of progress has been going on on Hive but the price seems to be slacking and behind, except when our korean friends are being generous to pump it. For the fact that they are not pumping the price the extent we want them to pump it, doesn’t mean that Hive is less progressive. We have seen a lot of crypto projects with far better price progress than Hive but with far lesser innovations to sustain them.
Look at the Safemoon, safe mars, Shiba Inu and other Shitcoins era, lots of hypes were focused on them, we saw a lot of volatility flood into these spaces, but their innovations were poor. Sometimes people, I mean traders, care more about making money more than innovations. They know how to take advantage of people’s demand, they are strategic with their investments and know how to use their liquidity to influence volatility and lure retail traders into investing. When the masses are collectively interested on a token and are hyped about it, it will always show in the price, the law of economics, supply, demand and price value. So anytime you want to invest and HODL a crypto, the current price shouldn’t hold you back, its innovation is what will determine its progress, not always the price.
Bitcoin has come a long way, 5 years ago its all time high is this year’s bottom, people are quick to cry about the price and how its dying soon, forgetting its progress and innovations behind it. If the whales feel like going extremely bullish on bitcoin they would and it will get us all excited again, but for now the masses are having fun playing around the prices.