HIVE Price Spike on Oct. 7 and How I Capitalized On It

I last wrote about the spike in HIVE prices a month ago. For a few months we would see a fairly consistent spike in the price of HIVE around 9am in Korea. Unfortunately, that pattern did not continue into September/October and so I have been stuck on the sidelines waiting.

However, today we saw a large jump in HIVE prices at a very unusual time. As you can see in the price chart above, the HIVE price began soaring around 10am Eastern Time. I can't remember the last time we saw a spike during this timeframe as it usually is tied to the morning hours in Korea, which translates to 8 or 9pm in the Eastern Timezone.

Since the HIVE price spike pattern ceased occurring in the past month, I've been sitting on a mix of HIVE and HBD to take advantage of any random price movements that may come along. I do this because we have seen both random HIVE and HBD price spikes in the past year and I like to be able to capitalize on either situation.

How I Capitalized on the Volatility

I began selling HIVE in the PeakD marketplace as soon as I noticed an e-mail alert that the price of HIVE had risen more than 20% within an hour. The prices I received for my HIVE on the internal marketplace ranged from $0.57 - 0.63. One thing about the internal marketplace is that you will never capture the true price as seen on CoinMarketCap (which appears to have peaked around $0.665), but it's close enough for me considering the ease at which I can fill the orders and without any transaction fees.

Just prior to this price spike, the price of HIVE was around $0.49, these sales I made captured a 23% upside. I didn't convert all of my liquid HIVE into HBD in case we get an even stronger spike in the near term, but I'm happy with the approximately $700 profit I was able to lock in on this trade by selling my HIVE and ending up with HBD.

If you haven't done so already, it is a great idea to set a price alert for HIVE and HBD with a service like Coinwink so you won't miss out on these volatility events that can be very profitable! Coinwink alerts are free when sent to your e-mail and I find them to be quite accurate. I currently have alerts set for plus or minus 20% price moves within 1 hour for both HIVE and HBD. Give it a try for yourself and rest easy that you'll get a timely alert next time things get a bit wild in HIVE.

Posted Using LeoFinance ^Beta