I don't keep much Hive on exchanges but with the recent Hive pumps it's always a good idea to keep a trading bag ready to go.
So far I've managed to turn 3K into 5K by selling the insane pumps that we see from time to time and buying the inevitable pull backs.
Anytime that Hive pumps over 20% in a matter of hours, you know it won't hold. The last one was 50% but hasn't dropped back as much yet. I decided to buy back in today at a small profit instead of leaving it too long with all the new listings and futures listings that we have seen this week.
Even better at the moment however is the fact that Binance has flexible staking for hive in it's earn section that was paying out 10% last week but has inexplicably jumped to 25% this week.
This is great news as I can keep earning Hive while i wait for the next big pump.
At 3.6 Hive per day compounding it adds up fast enough even if we have to wait a few weeks for the next pump.
I like earning hive through blogging but you can stack a lot faster by taking advantage of the korean pumps from upbit. We still don't know why or when they will happen but they always do.
- Wait for 20% + pump.
- Sell off Hive bag.
- Usually buy Bitcoin or a strong alt that is going down in price.
- Wait for the hive pull back.
- Usually against the other alt rising.
- Buy back with gains.
Hopefully we can see a few more of these surprise pumps over the next few months and double my current stack.
Even better when it happens against the entire market opening up the opportunity to increase those gains.
Worst case scenario is that Hive keeps going up which would be great and I take my profit.
Or other case is a big crash from hive where i would buy a much bigger stack.
Neither a big issue in any case.
Posted Using InLeo Alpha
thanks for the hint on binance earn!
Is that on binance us?
25 % staking interest? Wow, I have to check that out. Great trading strategy by the way
This post has been manually curated by @steemflow from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating to @indiaunited. We share more than 100 % of the curation rewards with the delegators in the form of IUC tokens. HP delegators and IUC token holders also get upto 20% additional vote weight.
Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @steemflow by upvoting this comment and support the community by voting the posts made by @indiaunited.
Nice to know Binance is giving staking rewards on Hive, didn't know that. They also are very high which I would say is both good but also a bit concerning. I've also thought about a similar strategy but generally just opt to hold.
That's a way to pull more liquidity on Binance.
Wait for 20% + pump. Sell off Hive bag. Usually buy Bitcoin or a strong alt that is going down in price. Wait for the hive pull back. Usually against the other alt rising. Buy back with gains.That sounds like a very good plan. But if HIVE keeps going up instead of the regular pullback, do you still plan to buy back the HIVE bag at a loss?