Crypto Analysis | HIVE/BTC Bottom and Breakout

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Good day Hiveians!

Join me in analyzing the crypto markets!

 

This one has been a long time coming

For 3 years Hive has grinded lower in relation to BTC.There was seemingly no end in sight and Hive even made a new ATL this year, having dropped almost 96% to around 0.0000023. But there is change in the air. Important trend lines arebeing broken and with around 1 year left for the bull phase I am going to cal it: Hive is going to make a strong reversal.

The trend reversal was initiated by the 2B trading volume we saw last week, which I can't help myself to repeat. I honestly didn't think we would see these massive volume candles again. Since then we are seeing a break of a resistance that has kept Hive down for over a year which can be seen as the purple trend line.

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This is it. This will be the start of a year long (volatile!) impulse wave. We can essentially expect something like what we saw in 2021. If we simply take the movement from back then and superimpose it on the near future, we get something like this:

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This is how it would look like if we were to get the exact same price development (in relation to BTC). Interestingly, this would still mean that Hive would not breach its fromer ATH. For now, I am simply going to use this model as it seems to be located in the middle of a too bearish or too bullish scenario.

0.000031 would be a 10x and assuming BTC were to reach $400k Hive would be sitting at around $12. Realistic? I would say yes!

Conclusion

Hive's time like most Alts has come to shine. This is when we can expect massive returns over a relatively short period and we should position ourselves accordingly.

 

As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!

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24 comments
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0.000031 would be a 10x and assuming BTC were to reach $400k Hive would be sitting at around $12. Realistic? I would say yes!

🙃😗Then everyone will come back..

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The all time high that Hive make this year ls superb, and lt's going to be great for everyone of us, if Hive reach 12 Usdt. Exceptional analysis ❤️

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Days of glory are coming, and HIVE is the front of that haha

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Looks like Hive is ready to make a come back!! Lets bring it!

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@axietrashgame just sent you a DIY token as a little appreciation for your post dear @tobetada! Feel free to multiply it by sending someone else !DIY in a comment :) You can do that x times a day depending on your balance so:

Don't be shy - share some DIY!

You can query your personal balance by !DIYSTATS

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But there is change in the air. Important trend lines arebeing broken and with around 1 year left for the bull phase I am going to cal it: Hive is going to make a strong reversal.

No, it won’t @tobetada. I like your optimism, but that will never happen because of one simple fact: Hive is inflationary currency, and Bitcoin is deflationary currency. It’s a simple truth.

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That is a valid point. But I would argue that inflation when it is reasonable has essentially no impact on price - how else can we explain these big swings like when Hive did a 30x in 2021 or lost 95% of it's value? Betting that Hive won't make gains in an alt season seems very risky to say the least. The breakout will come and has already happened. The question to me is how high will it go. Long term Hives price in relation to BTC might not go up a lot. But there are so many catalysts that could catapult our blockchain to higher spheres
..

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This is a simple math, @tobetada. You can’t argue with math.

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it's a theory that has been disproven in practice (as can be seen by simply looking at inflation for x chain and see how it translated into price movement) or perhaps I am misunderstanding your argument.

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Well, if you don’t understand simple math, or the concept of deflation and inflation, I can’t help you @tobetada. Your presumptions that Hive is going to make a strong reversal does not have anything with reality and will not happen.

Sorry to burst your bubble.

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No, it's not a valid point. Both Bitcoin and Hive have inflating supply.

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Bitcoin and Hive are both inflationary: the supplies of both increase with time.

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No, they are not, @reonarudo. Bitcoin is limited to 21 million and there won’t be any of it. Hive isn’t.

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(Edited)

The supply of Bitcoin continues to increase until 2140. That's a fact. The moment when Bitcoin stops being inflationary is over a century from now.

The annual growth rate of the supply of Hive will diminish over time as well, it will just never reach zero.

But this is all irrelevant because the price is influenced by yet another factor aside from supply: demand. To adamantly claim that Hive can't pump flies in the face of historical reality. The last big pump that took the price of Hive to over $3 occurred three years ago.

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It is very hard to argue with such an economic expert like you are. Farewell…

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I believe Bitcoin will reach maybe $150k-$200k in this cycle. But who knows, it could go higher depending on what kind institutions start buying it.

Hive peaked at $3.4 in the last cycle. I'd say $4-$8 is realistic.

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