Introvert Talks - The Good Side Of Hive?

Welcome to Introvert Talks!

"Introvert Talks" is meant to be a new initiative or theme, where I myself as an introvert, just talk about reflections and thoughts about my life, or maybe share more personal stuff. :)

This is my weekly post under this "Introvert Talks" theme and let's see where it takes me and us.

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It's interesting how I talked about the ugly side of Hive last week - you can read all about it here, and then the price of Hive shot up this week! So we can title this week's reflection the other way round. Hehe. At time of writing, it is trading at USD 0.61.

This reminded me of the post I wrote earlier, in fact, almost one year ago. The post was about what if Hive reaches 10 USD. You can read about it here.

Basically it was just a hypothetical scenario that everyone sort of pretended that it happened and then imagined what they would do. Interestingly, in that post, as of 26 Feb 2024, BTC was trading at 51k and Hive was trading at 0.33. Fast forward to today, both BTC and Hive have roughly doubled. Wow.

I was reading the posts in the community and the Discord chats, and I noticed a predominant theme/view. Most people were surprised or shocked that Hive moved up so much within a short period of time.

I am not sure if people have been "cheated" multiple times or experienced the "pumps and dumps" cycles too many times until they didn't think too much this time, and everyone was just cashing out or swapping Hive into HBD, and then waiting for the drop with full certainty that it would happen to reverse the trade to earn some profits.

Of course, as of now, the "dump" part of the "pump and dump" hasn't materialised and we won't know if it will happen as well. I guess the main reflection and takeaway for this week would be that no one knows and it's almost impossible to time the market in the short term. Especially in the crypto space, where 10% or even 50% price movements can happen within a single day.

The unpredictability of the markets in the short term is also something that I constantly remind myself whenever I have any trade ideas. Nothing is 100% for sure. While we can have our conviction and chase our profits, it's always good to question ourselves what if we were wrong this time, and what the downside would be. If we are comfortable with the downside as a low probability scenario, then we are good to charge ahead.

Of course, I don't have any tips, and I don't want to pretend that I could foresee the price of Hive in the coming week... But being a Hivian for more than 3 years, I enjoy my time in the community, I think and hope that Hive would do well in the long term.

And for once, it's a pleasant yet slightly silly feeling to see that my vote value (in USD) has gone up. Lol!

Alright, that's all I have, stay safe and stay profitable in whatever trades that you might be doing during this period of volatility and opportunity. Cheers.

Before I end, of course, I should always reiterate that this is not financial advice. This is just my personal viewpoint and one should ALWAYS do your own due diligence for anything you want to put your money in.