What does the new Bitcoin ATH mean for Hive?
If you've been watching the market closely, you'd have noticed that Bitcoin pushed the boundary by a tiny margin that could fly under the radar. Considering Bitcoin movements are typically in the thousands of dollars, a couple hundreds difference could go unnoticed.
At the time of writing, Bitcoin has dropped back down to the 68K range but it's generally in a very healthy place price wise. It's the weekend, so I expect the market to calm down a bit but I won't be surprised to see Bitcoin move even further away from the ATH at the start of next week.
This market has largely been about Bitcoin and assets in the top 20. There's been some decent Ethereum and BNB action but if you look outside of the heavy hitters in the industry, you'd find that it's largely been still waters.
In the past, any serious Bitcoin price action usually triggers a corresponding pump for the entire market. Then again, back then, there weren't this many digital assets just hanging about so it will be interesting to see how the value trickles down.
The Bitcoin crowd haven't been as diluted as the Altcoin crowd. Even among Alt Coins, assets like Ethereum, BNB and XRP, to name a few, have core deep-pocketed investors that have stayed the course of time.
Assets like Hive, for example, that are largely under the radar and I dare say, criminally underrated don't have that luxury. There's some dilution of value and then some capital flight as a result of dissolutionnent or just frustration due to market action.
As much as I hate to admit it, I completely understand the emotional reaction of investors who decide to leave. The Hive blockchain is an incredibly functional machinery that should be doing far valued much higher than it currently is.
Don't get me wrong, perspective is important and with a market cap that is over $184 million, Hive isn't "poor" in the grand scheme of things. This market cap doesn't even include projects like Splinterlands, Leofinance, and many others built on the Blockchain.
I just feel like comparing the intrinsic qualities of Hive to that of the projects that are closer to Bitcoin in ranking, Hive blockchain is grossly undervalued.
I'm talking about a Blockchain that offers free, secure and fast transactions. Always available and is already home to a plethora of transactions. It is a perfect splice of the social and financial qualities of the crypto industry and the safest place to start your crypto journey.
Hive is as real as it gets in the crypto industry. It is not just a bunch of anonymous wallet addresses, it is real people interacting every day. It's only a matter of time before Hive gets the recognition it truly deserves.
Posted Using InLeo Alpha
I expect to see a nice run soon and I'm working on having some liquid Hive for it. Since we are decentralized we have no one pushing us onto big exchanges. It does hurt us, and at some point as a community we may have to choose someone to do it for us. But until then we will lag behind the others when the runs start.
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This is the reason every hand should be on the deck to market #hive to the would. I would say that the more the sign-ups the better chance of having more investors. And that will make hive compete with other coins.