Hive Price chart is indicating something
Today when I checked the date, I remembered something. Last month somewhere around the start of the month, Hive had a massive pump. Not just last month but I noticed that even a month before there was a huge pump in the price of Hive. I was curious and wanted to check the price chart to find out if the facts were right. I still remember I was wondering if I should power up Hive or just sell it and book the profit on the 1st of August. The same happened last month too.
When I had a look at the chart, I was able to find out that there was a pump around the last week of every month and a big pump during the first week of every month. This has been a pattern only for the last two months. People said the reason for both the pump was because of Koreans. I really don't know what the real reason was for the pump but it appeared to be a great thing and the volume of trade was also very high during the first week of the month. I'm having the same expectation for the coming month too.
I started thinking that this can be a possibility again in the coming week too. We still have only a few more days for the new month and the first week of the month. Today when I checked the price of Hive it was pretty decent compared to the last few days. The price had a slight pump indicating the calm before the storm. I was wondering if that would be the case again in the coming week.
We all know that the entire crypto world is having a tough time these days and we are not seeing a bull run anytime soon. But from what I observed there were days when Bitcoin would be going down but Hive would be very strong. Even during those days when the pump happened, all the top cryptocurrencies would show red and have some tough times but Hive would still stay strong showing upward movement. Hopefully, in the coming weeks, something like that can happen.
I usually will not have any liquidity with me in the last two pumps. This time I have some liquidity in hand and I'm thinking of selling a minimum of 1000 Hive to try and do some trading. The last time when the pump happened, the price was well over 80 cents in front of my eyes. I did not have any liquidity in hand to make use of the situation. If I had sold it at 80 cents and bought it back at 50 cents again, it definitely would have been a great trade. At least this happens again and hopefully this time I can sell them for some decent price.
This time my target is only 60 cents to start with. I'm thinking of selling a small quantity at 60 or 65 cents and then buying them back when the price goes back to 50 or 55 cents. I don't want to be very greedy here. I was thinking maybe someone is getting a big paycheck during the first few days of the month and wanted to pump the price of Hive by buying a huge amount of Hive. Hopefully, this happens again in the coming days as well. Not financial advice but this can be some luck for small traders.
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Hello bala!
Very nice bro. My observation is the same.I noticed also what you mentioned in the post. Let's see what happen.
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Hahah... I also noticed this and I have done liquid Hive set aside for this. Even yesterday, HBD moved from $0.97 to $1.
If the Koreans do their magic again this time around, I will be up to grab it. Hehe
I didn't quite understand it but here to say hi 😀
I have some set for a pump, but I think the rest of my Hive is going for Power Up Day this time around, despite my love of flipping coins :) ...
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I'm also reserving some Hive for the power up day.
It's going to be a fun one for sure :) ...
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Hive is one that I don’t think follows allot of technical rules. The what seems to be like monthly pumps really mess things up for me, all I can really go by is support and resistance, lol. But I use Hive as an income engine anyway and not a trading asset, and it’s a DCA in and out so I don’t pay too much attention. I only really trade Bitcoin or ETH these days.
I don't have much to work with yet. Planning on building it up over the coming months. But, it might not be a bad idea to have a notification set to go off when it hits a higher price so one can consider trading over to HBD until it subsides again, then buy in again. Y'know, good ol' buy low/sell high/rinse/repeat.
If you just follow people from Hive on Twitter, they will let you know when the price is pumping, lol. Never fails, lol. Of course you can always set alerts at different price levels if you want to do all of that. Hive for me is an income engine to get more Monero at this point, well some Bitcoin here and there too I guess, but I am going all on on the privacy these days.
I hear that. I'm using it as a creative outlet via a podcast. I've been itching to start one for so long and with many false starts, and doing one on Hive was kind of a comfy default for me after having done it for Steemit about 6 years ago. And it looks like you're doing pretty well! You've got a lot of chill content that people seem to enjoy, so yeah...keep it up! :D
Thanks, yeah I try to keep it chill for sure with all the drama out there in the world. I have been playing with all kinds of different formats over the years here on Hive, so you just have to find what works for you.
As long as you know what you are doing, trading can be favorable. Otherwise we have to just invest and watch it grow in value.
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I also noticed that hive pumps first week of every month. I was actually thinking it was because of the power up, people buy hive in other to power up
Thank you really sharing with up as we await what the market holds for the month of September.
I was also thinking it might be for power up but it is more like a Korean game I guess. Most of the volume happens on Upbit exchange.
Does the Korean game happen every month?
It is just a prediction. Not sure if it happens every month but it happened in the last 2 months.
Here we are in another new month
Nothing has happened. Let's watch out
It could pump because Koreans may want to hedge against bitcoin dropping. They put a certain amount, (shitloads) into HBD.
Pumping HBD is not very helpful. That will bring the value of Hive gradually down. Hopefully there should beenough liquidity in the market.
They do it because they front run the people who are swapping Hive to HBD. Thats why it pumps like crazy, they want to move X amount of money into HBD. The supply is thin so the bots go nuts trying to front run all that capital moving around. Just the way it is.
nice post! I guess the reason for these pumps remains a mystery. I have watched them play out live on Binance and I am getting a feeling they are being made by a rather small group. Also look at the time of the pumps throught history. They often start at 7am Koran time, this is why I think people are "accusing" them ;)
I don't want to point fingers at me but I predicted all three pumps here as well as the follow up price prediction here 😎
If we break the ~60 cents resistance we are going well above $1
This is awesome. Let's hope it breaks the 60 cents barrier. But I'm sure there will be a huge selling pressure too.
either that or a correction back to 40 cents which would be very bearish. Let's hope for the best :)
on another note: what has me a bit worried about these pumps in general is that it seems to me that they come from a centralized small group trying to make a profit. If so, this then wouldn't be an organic and sustained movement. I hope it shifts to that with Hive adoption
Interesting - when one goes back several months there is a pump around the start of the month.
I am testing it out. Bought $100 worth of HIVE selling BTC at ask price on August 31. Put in place a sell order at 40% profit GTC - we shall see.
Chart shows the entry and the target. The blue arrows are the last two spikes. I chose 40% s the prior spikes were not as big as the last two.
Good timing. Yeah let's wait and see how it goes. Fingers crossed.
Yep I also waiting for the upcoming pump. If pattern is true, it will happen in very soon!
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Let's hope for the best.
Trading is tough and I honestly don't know where the markets will go because the market could go in either direction right now. Are you playing everything with HBD/HBD alternative?
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Mostly HBD.