Is Now A Good Time For Hive?

Markets have been destroyed almost over night as FTX comes under some serious issues. This post wont be about that though as there are thousands of articles already written about it. In short though it seems FTX.US is safe but the international exchange is having some major issues. The positive a vast majority of crypto trading and value actully comes from the USA. With is mega issue that's still really unfolding as we speak continues to play massive havoc on the crypto world.

Is It Just This Issue?

To be honest I don't think this sell off was all because of FTX. I feel the entire market got over bought again in a time where the worlds economy is honestly just trashed and for the next year it's foreseen that it will continue if not get worse. The stock market is on rallies for no reason and often takes a drastic slam ever few weeks to correct itself and once again is in a rally state for no reason.

The same goes for crypto there's really no good news and it's been constant bad news after bad news and no I'm not talking about FUD either it's legitimate bad news and every time you feel like the worst is over something else happens.

The entire world is hitting a major liquidity issue right now and we see this all over crypto including hive. These major liquidity issues play some crazy games in the markets where it doesn't take much money to trigger a massive sell off or a massive rally.

This leads me to believe we over sold the markets over the last 48 hours and with the small push upwards again it seems like that is in fact the case. I called for a max low of 16k on Bitcoin but really we should be back to sitting around 20k-25k by end of year as it currently stands unless there's more hidden badness in the crypto industry like FTX.

Hive Worth Buying?

It was almost one year ago today that hive broke $1 for the first time and then moon shot all the way up to near $3 for the matter of about 1-2 weeks only to continue to fall from that point.

As it stands right now hive is back to its nearly all time lows base point and just hit the Jun 2021 price point. That nearly puts Hive at the bottom of the barrel now in terms of price per token. There's been a great deal of development and things going on hive since then but they are all rather small projects that haven't moved much capital making little to no upwards pressure on the hive price.

In fact I still to this day don't see much positive pressure on the hive price and instead more negative pressure as we roll into the weeks ahead. While hive might hold it's price point I fully expect for it to continue to slip or remain the same for the rest of the year.

Perhaps 2023 might paint a new picture with some new projects launching and some rally relief in the crypto markets. For me now is a good time to be converting Fiat to hive as extra funds and also to just continue to stack, work with LeoFinance and hive to building it and creating some awesome things.

There's strong potential in Hive but that's potential and possibility and not fact. It's going to take a lot of commitment from the community and continued struggling development during these times to fuel the projects to new highs but I believe as a community we can do it and really make Hive shine.

*This article is for entertainment purposes only and not financial advice

Posted Using LeoFinance ^Beta