Hives Recent Price Action.
I know, i know another Moon post but hear me out.
Like most iv been watching Hive prices action and get excited. Dreaming about all kinds of possibilities, reasons, fundamentals, pumpamentels. Looking for any indicator i can to gather any kind of strategy for going foward.
Whats causing it is mainly the question i think that is being thrown around.
Splinterlands??!!
Resource credits?!!
Hive interest??!!
HBD drain on supply??!!
ITS ALL GOING ON.
But where the hell are we in this cycle right??!!!
Anyway it just hit me what happened with Hive which might give people a reason to throw caution to the wind for now and not to get too Bullish just yet.
Basically Hives price on Friday was a build of all of the above. Traders have had mainly short positions against Hive for a long time because while everyone has been mostly bullish here they have been making money from shorting. They are traders.
Slowly we have been chipping away at their arrogance and Friday came. They have had positions that could have completely wrecked them over the weekend while they are out, sniffing coke and banging hookers.
As we saw a lot of the volume came from Binance this time, which is another indicator that this recent moon shot was for the most part (the price action in particular), leveraged short positions deciding to get out so they can go party without any stress during the weekend.
It basically spunked its load in a dramatic fashion.
I think it will cool down for a little while so id advise to stay calm and not do anything irrational. The bulls have just smashed the door in and we have a new paradigm coming.
The message is loud and clear for traders now.
Dont fuck with us because we have a supply demand issue now not a speculation based one.
Agree on that 100%
And I think we all know someone with a massive short in hive.
IMO squeeze JS would mean bring hive to high we never think about before.
On the other side, if he realizes the pumps are so massive st**m cant cover the costs, he wills tart close positions.
That's my opinion to that :D
Natural price would be much higher for hive compare to st**m.
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Right on👍
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STOPTo support your work, I also upvoted your post!
Check out the last post from @hivebuzz:
Sounds very plausible and great to have the extra insight into what is going on.
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No truer words.
I don't know how to say this but speculation and hive doesn't go hand in hand.
If you want to do anything with hive do it for the long term
Last time I checked most of the trading volume was coming from Korea.
Posted Using LeoFinance Beta
Most of the time it is but i think binance had more of a part to play in the action this time.
I think you've pinpointed the reasons for this spike and yeah, probably this isn't the time for any rational hyped reaction as we have more to build up to raise in the $1 - $10 range. Many are $ dreaming, but also I think that many were caught with all their HIVE powered up. Some started to power down, but I don't think this is the way as it is a slow action and you might get the assets when the market is reversed. Is something to consider for the future and maybe strategize to have some liquid HIVE aside, set some sell targets but rushing now might be a little bit too late.
Posted Using LeoFinance Beta
I didn't understand almost anything of what you wrote here, except banging hookers. I hope traders will not do something similar with Hive... :)
This is hopeful information to hear. Every time there is a spike, I always wonder what the longer term price of HIVE will be after the dust settles. I'm quite happy with anything above 65 cents at the moment, but of course the more the merrier.
This made me rofl.
It seems that you were right, the recent spike in price is just a long overdue pump that, imo, is still underpump that will in the mid run bring us to 1.05 and as you say, the supply-demand issue is still there but, I don't think it will play a huge role in the next few weeks.
I have actually decided to go all in on Hive recently :D But my buying positions are starting at 50 cents downward. If the current level can hold, I think 2$ is the next stop, but I am 99,9% certain that it will correct to about 80 cents again after that. But it would also mean that 10$ is almost guaranteed in this cycle :)
Its holding nicely. Im not sure about 10 dollars but anything is possible. 2 dollars would be great.
while the 10 dollars is somewhat symbolic, it is also based on the previous performance of Steem to which Hive is still highly correlated. Having a 2$ Hive and a correction to <1$ would also set up another fib retracement going up to about 10$. The TA on this is pretty clear I think so 10$ is very possible in my opinion. But we definitely need a 2$ Hive well before the peak of the cycle (perhaps 6 months or so)
Thank you for the kind upvote sir!
Post more posts like this! Where U aT?
I heard it was Korea, but what the hell do I know!
Thank you for this post, I find it difficult to find "objective" views on price and this is very helpful.
How relevant this post is today! Love it! lol
JP "Nostradamus" Hammer1
lol thanks man, its nice to lay things down sometimes, so you can look back at it and smile.
You should post about the recent market crash :)