Over the weekend, I was away on a camping trip and away from the computer and socials. I did not see the massive price drop that happened. Logged back in today and saw the price on 14cents and touching 3cents for a sec. That sure did surprise me. I wanted to make this post to share my thoughts about Hive and to know about yours in the comments.
Icy waterfall in Estonia
Nobody likes to see their account value fall to the gutter, me neither. But if you have chosen to be in the crypto space, then you must be prepared to pay the price as well. This is one of those times. And if you fear the downside. I'm afraid I have bad news for you, there's most likely more to come.
Hive sure does have it's set of problems, there is no denying that, like a lack of a bigger influx of new users or info about Hive reaching to masses. But I am glad to see that some of these users who come on the platform stay for the long haul once they have dug deeper into what is being built in the back end. Unfortunately, it's also many who leave because of the low price, and once they realize it's impossible to make good $$$ quickly here. I have seen quite a lot of fear-mongering and conspiracy from these doomsday people recently.
Faint Aurora
The bull market has been quite strange too this time. Most of the altmarket has not seen prices soar. This, unfortunately, also includes Hive. During all the other bull market cycles, there has been a ton of hype from the retail investors. This time, there has not been much and in my opinion, this has prevented most of the altmarket from going into a bull market and reaching new highs. When big caps soar, the alt market slightly follows and when big caps correct the the small caps correct more than the prices just rose. This has been a trend this time around, resulting in a longer downtrend, for example, Hive too.
Even though BTC has risen a lot in price, the % gain has not been so massive since the market cap of BTC is now huge. Since the % gain is not that crazy this time around, it does not create that hype in the general public anymore it did in the previous cycles to make headlines and bring massive amounts of retail into crypto.
Iceland
What I'm Doing?
Nothing currently. I have been on this platform for 8 years soon and I continue to be. Sure, I don't like to see my account value in the gutter and making $$$ is something I like, as does everyone, but I believe in the long-term opportunity of Hive, and I keep stacking. I also love the people here with whom I have been interacting for a long time. I see myself leaving only if the core community abandons the platform and Hive development stops. I think Hive is still the best platform for blogging and interacting with people, and there is no better alternative in the crypto space.
Hive price-wise, there are bad times ahead, I believe. Unless we have a big influx of new users, I don't see the price rising. If the bear market hits soon and big caps inevitably go into a longer-term downtrend, Hive will probably get hit hard. I have sidelined HBD for a long time now to buy up the falling Hive price. My plan was to start buying when the Hive price reaches 0.15 but seeing this wild price drop now, I will delay this because I think that bear market of big caps is not here yet. Currently, I'm looking at the price of 0.12 when I will start to buy 100HBD worth of Hive after every 0.01 price drop.
Who knows how the bear market even looks like. It might change in time too and big caps might not even see massive price drops like they have in the past. The new hard fork should come soon, so let's see what changes this brings to Hive.
What are your thoughts about Hive and your future strategy?
