First question is: does investor on crypto market act rational...?
If yes, then inflation should have great impact, but if not it can have only a little influence.
I think inflation is only one of the reason why Hive is going down more then it should in actual situation on the market. The most important is a good and well thought out multi-year marketing campaign which we don't have.
I think we should prepare strategy, that would show our blockchain as a focused on community web. Which means a network where people care about the common good (for example by burning tokens, stacking at least 50%of their profits etc) while also gaining individually (taking some of the profit to make our life's better, most desirable inside network - spending HBD to buy from each other goods and services).