The price of HIVE has dipped under $0.20
I just had a look at the price of HIVE on HIVE Wallet and was sad to see that it has now dipped under $0.20. Its decline continues, although hand-in-hand with a declining price of BTC.
[Credit/Source: Screen shot from HIVE Wallet trading screen at the time of posting on 04/07/24]
Looking at the chart above, there are a lot of people lining up to dump HBD for HIVE if it drops further towards $0.18. I'd do the same if I had any HBD to sell.
[Credit/Source: Screen shot of HIVE 1 year price from CoinMarketCap at the time of posting on 04/07/24]
The 1 year price chart above shows some grim numbers (in my opinion). The price was in the $0.30s for most of the year apart from the brief spike up towards the $0.50s, and now we have this latter drop to just below $0.20.
[Credit/Source: Screen shot of BTC 1 year price from CoinMarketCap at the time of posting on 04/07/24]
When you compare to the 1 year price graph for BTC, the problem is that HIVE didnt rise on the coattails of BTC like it has in the past when BTC was heading up towards $70k. To make it worse, HIVE is however, going down with BTC.
I know people have been talking about alt season coming - but I've basically been hearing that for a long time now. I dont want to be skeptical, and I hope that it is coming - but why would it ?
Its sad to see. HIVE has a lot of utility but not remotely enough uptake. I do genuinely take my hat of to those that are driving onboarding, but its not looking great. I guess the question is whether the current price will drive more people away (why spend more time on it if the return is diminishing) and will potential prospects that could be onboarded give it a miss because it looks like its hitting the skids.
Who knows. I have invested my time here so I aim to stick it out and do what I can - but its tough times.
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Hard times will come at $0.05-$0.1 per HIVE. But we will have more whale accounts.
Aye- if it drops down to that level it wil lbe pretty difficult for many.
I must admit I'm getting concerned. I'm way underwater compared to the fiat I put into Hive, and can't see anything going on to create a big upward jump, just the hope that the price will naturally creep upward again over time.
My current plan is that I've got a price in mind at which I cash out my HBD, take it offsite and put it into non-crypto investments. At least that way I can recoup a big chunk of my initial investment and avoid the risk of the HBD haircut rule kicking in and losing everything.
With regard to Hive Power, the power down period is so long that by the time the funds come available whatever is going to happen will have happened. So I plan to stick around, hope it doesn't drop to the point where the ecosystem gets turned off, and keep posting in the hope that one day I'll have earned enough to cover the losses. After all, Hive for me is primarily a place I can put the creative writing I do. Lesson learned, though - don't invest so much in any one project !
My next task is to see if there is a way to export the content of all my posts in a usable form so I can back them up locally. This is a final contingency although I hope things won't come to that ! The ideal solution would be to run a node (that way I'd have a copy of the whole blockchain including my posts !), but I'm nowhere near techie enough to do that, lol.
I'm lucky, I never put much fiat in, so dont have an issue with having lost anything personally. However, it is a shame to see, and I guess there are a lot of people that have put a lot into HIVE and or its ecosystem, and that must be a big worry for them.
Heres hoping for the best.
Absolutely great plan brother, I got pretty shocked to see it go under but I'm sure it will rise as long as I keep my hopes up hahaha... But for real I'm very concerned too
Yep - that sums it up !
Too band when the price of BTC recovers, the price of HIVE probably won't. I just picked up some more HIVE at about $.19. It seems wrong not to!
You ask the right question: why would the price of HIVE rise?
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I guess alt-season depends who you are talking to. I'm not expecting it for another eighteen months or so. Here's a helpful post with a nice chart at the end that helps explain where we are.
HIVE sat at .13 USD for a long, long time last time round, and cycles before that it dropped to 0.7 USD. This is the nature of crypto.
It's hard times but this is what happens when we have no presence in the wider crypto space.
And I mean we are literally not doing anything that other coins are doing, we have no press releases, we have no NEWS of any sorts going out to any of these crypto sites.
The machine is hungry and we are not feeding it.
It takes a small team of people with the knowhow and a bit of a budget and this stuff could get sorted easily, even if it's small going at first it can be built upon.
This has also been talked about for years but no one has really stepped up to the plate except for @crimsonclad who has by far probably been the only person truly propping up hives presence in the wider space. (there are of course great strides being made in the hispanic community and a few others too)
It really all comes down to someone.. somewhere just diggin in deep and getting the job done. I keep consistently contemplating trying.. but I'm not a commitment nor responsibility guy, that stuff breaks me mentally.
In the end at this time, the community will build what it builds, Hive will continue to be developed and improved at least for the next 2 years (based on what I've heard from blocktrade on ideas and improvements he wants to make)
VSC is on the horizon, smart contracts could be a major deal if we utilize it effectively
SPK network when it hits mainnet is some seriously fancy tech, not in existence anywhere else in the space.
We got light accounts on the horizon as well as numerous other feature and improvements.
It's certainly not all doom and gloom, the price sucks but we still building, we still chugging along.
Aye - its certainly a difficult one, and as you said it takes someone to step up to the plate, for what is not an easy job. Its great to hear that there are still great developments coming through - hopefully they help in some way.
Honestly brother, it's disheartening to see HIVE drop so low. I'm sticking around too, but it definitely makes you wonder if things will turn around soon. Regardless I'll keep pushing
The price does not look like it is going to improve in the short to medium term and Hive activity is in free fall. Tough times indeed. Let´s see what would the future brings.
But like you, I have invested my time here and I will stick as well.