Hive Outlook & Predictions For 2024
I'm Still enjoying Hive!
After 7 year, I'm still very much enjoying blogging on hive and I keep up my daily routine of making a posts even on days where I'm not really feeling like it. Most of my content continues to help myself to stay sharp in my betting/crypto/play2earn journey so aside from the monetary value it gives me a ton more. I just like writing and see this as my online home and it's safe to say that I will continue to use the platform I would say as what it was intended for. In this regard, Hive really succeeds and is perfectly suited for someone like me.
Last Year Prediction.
This is what I wrote last year (Link)
2023 Results
Basically, HIVE bottomed out around at a ~0.25$ almost exactly where it was when making the post last year so instead of the expected 95% correction it ended up a 92.78%. This seemingly tiny difference makes a huge difference in price though. While things didn't go as low as I expected, it also didn't pump as high as expected topping at 0.40$ instead of the predicted 0.80$
2024 Expectations.
Hive remains a platform that kind of exists outside of the crypto space with none of the influencers ever talking about it and there is very little hype right now. It also kind of feels a bit dead I would say even and I'm also looking at myself since aside from making content, I'm barely active reading anything or interacting as all of that moved to Discord. Spintlernands which has brought the biggest traffic to the chain also is somewhat stuck in a mode where it has it's users and there aren't really that many new players. In terms of development, there also hasn't been moving much as it feels like ages ago since there was a hardfork or a new big project coming to the chain.
So right now pretty much looks like Hive is a niche in the crypto space having it's users and use case without that much more and for it to continue existing like this. If we do get in a bull run where BTC skyrockets and the public gets back interested in crypto, some of that money for sure will find it's way to the hive token which should benefit from it. There is also always a chance for something crazy to happen to make things explode like crazy but I honestly wouldn't count on that.
So based on the expectation of 2024 being a good year for Crypto, I do believe Hive will benefit from this but without going crazy and not reaching the previous all-time highs. The mong downtrend line also has been broken to the upside recently and I can see it continue like this slowly but surely to a point where the price reached 1.27$ again at some point this year.
Prediction: Hive will benefit from a Crypto Bull run without doing crazy gains reaching around 1.27$
Presonal Hive Plans
I for sure will continue to blog on a daily basis also playing Splinterlands and the ambition for 2024 is to become a bit more socially active again finding other bloggers and interacting more. I have been wanting to lease some extra Hive Power to spread my upvotes around more as they have been on Auto-mode now for a long time.
Conclusion
I'm still very much enjoying Hive after 7+ years but it seems clear that it's a chain and platform that is very niche and not for everyone. I would be highly surprised if things went crazy again as what happened with Steem in 2017 but I do believe hive will profit from a crypto bull run reaching 1.27$ at some point during the year if this is the case.
Play2Earn Games That I'm personally Playing Right Now...
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I also at some point thought it would go below $0.20 although it didnt, I think the Hive that we know rn wont go as crazy but with new improvements that make development easier and multi chain transactions I think can then be value for what it is and not for just a social network, its more than that but its only less than a decade old, the VSC project promises a lot and if it delivers will be a big step for Hive and the community, we just need to keep pushing ✌️ I already want to be 5 years into Hive
It remains hard to keep up with everything and I have no clue what the VSC project is you talk about honestly. I also put my expectations rather low so there is room for a pleasant surprise. It's easy to forget how crazy things have gone in the previous bull market to a point where valuations and prices were totally absurd.
I enjoyed reading your perspective on our Hive blockchain for 2024 @costanza. I think it is "stuck" and am not personally close enough to the influencers / decision makers to see, if anything, what might be in the works to change that.
That said, like you, I enjoy the social side of interacting with others all over the world. So ... While I haven't posted in over a year, I do still check my feed pretty routinely and comment here and there ...
That would be impressive. I hope you are right. Even more, I hope it not only reaches that level, but manages to stay there!!
I would say 1.27$ is low-balling it. it's only 3x or so from here on out which is not that much for a low-mod-cap altcoin. The way it often goes is price increase bringing adoption instead of the other way around.
Nice to see you around on the Hive chain, it does feel that for many once you are in the ecosystem you tend to stick around. All the best also for 2024!
Your concerns regarding the low activity and new users etc is something I feel too more and more. Its just different to what it all used to be! Your price prediction… I very much hope it’s true. But I am less optimistic 😅
And for the rest, happy new year!
The way I think it will go is that Hive will somewhat pump along with the market which will create an inflow of new users who start out (I would say as all of us) with an eye to make money with part of them staying the the community or the tech. At least that's what I hope.
** I have been procrastinating moving the @upvoteshares project to the next level and will try to do it in the coming weeks as I should have a bit more time as the football season is in a winter break.
That seems like a reasonable turn of events. Perhaps some new tech-side developments might ad some positive side effects on our predictions too!
Regarding @upvoteshares, I'll patiently wait with a small pile of liquid hive to buy some of them! Thanks for letting me know :)