Zombie Accounts. What Are These Telling Us?
The cryptocurrency market has so far managed to grow in size with every halving cycle and Bitcoin has somehow become an asset class of its own. Yes, Bitcoin is on its own path, but that doesn't mean "alts are bad", or useless... Some of them are but not all of them.
I bought my first cryptocurrency(LTC) back in the fall of 2017 and so far I have experienced two bear markets and "one and a half" parabolic runs. With every cycle, the wave gets higher and the industry evolves with it.
Back in 2018, the cryptocurrency total market cap hit its lowest low for that bear market at a level of around $100 billion, if I remember correctly. Four years later and in 2022 we saw the bubble deflating from something like $2.5T to $800 billion for the total cryptocurrency market capitalization.
Hive is a relatively new crypto project and the governance token has so far experienced pretty much the same patterns as Bitcoin in terms of price action. With the exception of occasional Korean pumps from which they only are seemingly profiting(personally I have never had liquid HIVE when these occurred).
Steem behaved pretty much the same, but aside from the price action of HIVE, which is clearly following in the footsteps of the OG of the OGs, Bitcoin, there's another interesting pattern that I want to bring your attention to. Hive zombie accounts. These ones are the users that awake once "the bull bites" and go to sleep when bears get in town.
Every cycle this pattern repeats like a charm. It's not the same accounts doing this every time, but if you "follow the pattern closely" you will notice that some accounts have a habit of going silent during the bear market and waking up once the trend reverses. These are my personal confirmation that Hive has changed course.
These people are like that type of crypto investors who never buy during bear markets, waiting for the absolute bottom, which will never come, to occur, and ending up buying high into the bull market and near the top.
What are the zombie accounts missing, though, by getting into a coma during bear markets? Well, while the average dollar value of their posts can be significantly higher during bull markets, it is easier to earn more HIVE tokens during bear markets when dollar valuations go low.
I don't see this awakening process of the zombies in full-blown mode already, but I'm seeing a gradual awakening of these. This is a good sign as it signals a trend reversal for HIVE and for the crypto market as a whole. Bitcoin topped something like one year and three months ago and it usually takes it one full year to deflate, until bubbling again.
Some believe we are still in a bear market, but I don't... I am wrong on many things in crypto, but that doesn't mean I should stop sharing my thoughts. I won't... and I also won't become a Hive zombie account any time soon.
Thanks for your attention,
Adrian
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I love posting on in bear times! More fool those who don't...
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Yep...
There are 3 types of zombie accounts:
One interesting thing would be to know how many of them are really in the first two categories.
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Plenty of the first category.
Yes, probably some will come back, when Hive will be big, but with the key gone.
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As for me , I believe we are in the bull season already , maybe its because I love the bulls..lol
Early stage though.
These zombie accounts tell us a lot of different things... One of them is what you said, coming and going as markets are going up and down... The other thing is that a lot of people never come back... HIVE has changed a lot in the last 2-3 years, but we still have similar problems as before...
Yes, onboarding is the problem, but your topic is about those who already were here... User retention is a huge problem... People come, create a couple of posts (or only 1) and leave... Why? It could be their fault for the high expectation of earning big bucks in a week, but also, we are part of the problem... Maybe pay more attention to new users, show them the first steps, show them communities, and integrate them faster, before they leave... We can do better...
Thanks for creating a post about this topic... Growing and solving problems begins with realizing and accepting them and not ignoring them...
I have picked this post on behalf of the @OurPick project which will be highlighted in the next post!
We both have been newbies and we are still here.
Heheheh... Congratulations! 😃
I have a zombie account that I used to use to play Splinterlands.
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I'm not pointing at that kind of accounts.
These zombie accounts know how to hibernate lol. As if they've a well thought out strategy that they go by. I'm also beginning to understand the crypto bull and bear cycles. The bubble and the bust.