RE: HIVE's little secret: 8 days after new ATH there will always be a dump!
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I've noticed this effect as well, usually exactly 7 days (168 hours) from a spike up. Any move up will be noticed immediately (as it happens) by investors, who will begin their power down within seconds of a price level being reached (say $3). And they know exactly when those tokens will be liquid and available to sell. First out sells at the highest price, second out gets the next best price, and so on. Thus the long downward slide we see after sudden spikes up.
I hate this new "KYC" thing. Basically it's code for "we're regulated and controlled and your privacy isn't important". People get into crypto (over fiat) for 2 reasons. One is privacy, and two is decentralization. Crypto isn't crypto without those. So if you have to give those up to trade your crypto, what's the point?
Good on you for pulling out when they went bad. If enough of us do that, there will have to be services for us. If most of us cave and use the nonprivate centralized system laid out for us, the few with principles will be scrambling in the shadows. People should take a stand while they still can.
I don't feel like there's much incentive to stay powered up here. I've been doing it for years, never taking anything out, but I find that mostly benefits other people, rather than myself. I mean, we're "allowed" a bit of self voting, but for the most part, we're meant to dish the benefits of powering up out to others.
And as I've seen recently, unless you're ahead of the pack, you might as well not power down! Especially if you're like me, not sure what to do once the power down happens. What I need to do is set something up so I'm able to move that HIVE at a moment's notice. Then when I need to do it, I'm ready to go.
And yeah, why stay powered up? Perhaps that's what is wrong with this platform. No/little incentive to power up! Which means low investment in the token. Which means small payouts. Which means content creators don't get paid. Which means they're less inclined to bother. Which means there's not much to read or watch. Which means nobody visits.
What would reverse all that? I don't know. A whole bunch of people powering up, and staying that way? But with no/little incentive to do so....
shrug
There is nothing unusual about seeing a big drawn out retracement after such a huge pump. But at least we still have the chance to increase our holdings on the way down, using the 7 day cycle theory. And as @yintercept pointed out, checking the active power downs would confirm the coming dump.
Not sure I really had a choice! But it did feel good to leave them with my account on zero :)
I took a look at your other post and wanted to know what is your evidence for this statement?
As you pointed out, looking at the monthly chart tells a very different story to the daily! And from my perspective we are still in a bull market until the monthly chart tells us we are not. This drop before xmas is a trap to get everyone to sell before we pump beyond the next level. This is what I am personally dreaming of anyway!
So, my advice is hold on to your hive, but always keep some liquid to beat the crowd on selling day. I think it is a good idea to take profits on the way up. Like I said, I aim to sell a little at each new ATH (or as close to that as I can get!) and put it into other assets. No one ever went broke taking profits ;)
It feels good to reward other people no? And no one cares if you vote for yourself on each post. You can be sure I do it! Even @timcliff is giving us in this post a great example of self-voting with a purpose. Which is totally acceptable. If a person believes themselves to hold a valuable comment then why not?
We power up because if we don't the platform fails to function. Though I suppose the main motivation from a newcomer's perspective is the possibility of curation rewards which obviously grows with the amount of powered up hive they hold. If one uses an autovoter cleverly, one can have a decent passive income. Though one will make more as a curator if they don't use the autovoter and actually scan the airwaves each day. To me this seems like a great motivation to buy & power up hive with the intention of hanging out here indefinitely. The only downside I still see for a newcomer is that all of this is complicated and takes months to figure out. And I think we must lose a lot of people before they understand the full scope of financial benefits around here.