A couple days ago @bitcoinman wrote a post questioning where is the wisest place to invest in Hive? or precious metals? It got me thinking and I decided to do a bit more analysis on the subject. However, before I dive into that, since it is Hive Power Up Day, I did do a power up. I have now powered up 20 months in a row. Not a streak I wanted to break!
Now onto the main subject for today. Let's start with a silver price chart over the last year:
From kitco.com
Looking back at the one year silver price charts, if you bought a year ago at $30 per Troy ounce today you would be up 40% on your investment. If you were a smart investor and bought the dip to $27.50 per Troy ounce (I did), you would be up 53% on the year. Not too bad a return on investment at all. The shiny stuff is a great place to invest that inflating fiat in order to retain wealth.
Will prices continue to skyrocket upward forever? No. But with all the uncertainty in the world it is very likely to go much, much higher.
Now let's look at Hive. Remember that sweet push up past $0.60? I sure miss those days... So, if you bought Hive one year ago at around $0.18, at the moment you are breaking even. Had you played your cards wisely, you could have sold at above $0.60 and tripled your money, but most of hung onto the majority of our stakes.
What worries me is that as other crypto has increased in value right along with Bitcoin, Hive hasn't. Also you will notice I circled the volumes at the bottom of the chart, back during the $0.60 push there was all sorts of volume and excitement. Now it looks like a flat lined EKG, not very exciting at all.
From coingecko.com
Compare that to BTC over the last year now. If you bought at $60K last year, you are up nearly double on your investment. What is interesting is the volume recently on BTC, you can see where I circled it, it's really high which is encouraging. We may see some serious price gains yet in the near future. $150K? Maybe...?
From coingecko.com
Many of the other chains are up 50% or more on the year, not all of course. Where there are winners there will always be losers. At the moment I would say BTC definitely looks like a solid investment as does silver. The shiny metal will continue to perform admirably for the foreseeable future. I didn't even delve into gold which is at $3,864 per Troy ounce up 49% on the year as well!
So where does that leave us? For me I'll continue to invest in precious metals and BTC as they both make since from past performance over the last year. Hive worries me, as it crab walks along sideways with no real volume or excitement. I do hope we see improvement as I enjoy Hive and I love posting and sharing with all of you. But right now it's a very hard sale to bring in money in from elsewhere to invest in Hive; when BTC, silver, or gold offer much better returns on investment.
Sadly, it also seems even the Koreans have given up on their Hive pumps. Maybe they found another chain that is more profitable? I hope not, and I'm hoping for the best. But things may get much worse price wise in the coming months...
Thanks for taking the time to check out my post today. Please feel free to leave any comments or questions below. As always, thank you for all of your support and engagement, it's greatly appreciated. Have a great day everyone!
References:
https://www.kitco.com/charts/silver
https://www.coingecko.com/en/coins/hive
https://www.coingecko.com/en/coins/bitcoin
https://www.kitco.com/charts/gold
Disclaimer
I am not a financial planner and this isn't financial advice. Please always do your own research before investing your money. You worked hard enough to earn it!
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