This is all starting to look very much like 2017 again...
HBDs are currently trading for well north of $1.
In fact, they were trading over $2 just a short while ago...
Check it out:
(Source: https://bittrex.com/Market/Index?MarketName=BTC-HBD)
As you can see though, you must be quick and nimble to take advantage of these spikes as they are often short lived.
By the time I noticed, the price had already pulled back to $1.55 or so.
This is pretty interesting considering it is one of the first times HBDs have actually traded for more than $1.
For much of their short history they have traded below $1.
And hey, it actually made my purchase here not look so much like a whiff as I should have just bought HIVE instead:
https://hive.blog/hive-167922/@jrcornel/looking-at-picking-up-a-few-more-hbds-at-current-prices
If history repeats...
This reminds me a lot of 2017 because we saw these sorts of things with SBDs quite often throughout 2017, usually a couple times each month.
SBDs would spike up ridiculously high in a matter of minutes only to return back down to previous levels within a few hours.
Then eventually we had a massive spike in SBDs that took prices all the way up near $20 in late 2017 that held a lot of those gains for weeks and months before ultimately going back to $1.
This in turn helped pull the price of STEEM up as people sold SBDs for STEEM and powered up more STEEM in order to earn more SBDs.
(Source: https://coinmarketcap.com/currencies/hive-dollar/)
We may start seeing the same thing with HBD...
Things could be playing out on HIVE and HBD in similar fashion to how they did with STEEM and SBD back in 2016 and 2017 when it was new and was getting listed on all sorts of exchanges...
Keep in mind that in the long run this may end up created more inflation on HIVE than is "supposed to happen" which is likely part of the reason STEEM performed so poorly through late 2018 and early 2019.
However, in the short run... a HBD price that is trading north of $1 can help pull up HIVE prices as well.
Caveat - I don't recommend ever buying HBD/SBD when it is trading for more than $1 as it is designed to eventually trade back at that level
Stay informed my friends.
-Doc
Thanks for the discussion; I like to post about prices and I am striving to pay attention to the movements of both Hive and HBD to observe the trends and also trade. When Hive was about 0.45 this week I decided to get some more HBD.
It will be interesting to see how HIVE behaves if HBD stays over $1 for any length of time here. I suspect HIVE will start moving up as well, though this isn't financial advice, just a dude on the internet voicing his thoughts.
Great started for Hive I think .and so glad add to Bitrex 💱 to the moon 🎑
Amazing spikes!! Might get people interested in what’s happening on @ Hive.io!
Don't you think it would be better if people came to Hive for the content as opposed to the market 'price' ?
If new people can participate and make micro payments that add up they will be hooked! So they see price going up and they think oh I should buy some HIVE and HODL and then earn a little bit each day by enjoying my time surfing the web!!
Agreed. The killer feature is being paid for your content AND being more decentralized than most. Nothing else has those two combinations.
It will be interesting to see if this move holds at all. If it does, it likely pulls HIVE up as well...
We are surfing on a very good wave, @jrcornel. Just because of that, I wrote this post: https://hive.blog/hive-148441/@wiseagent/hive-is-it-time-to-push-the-buttons-yes-but-you-better-be-careful.
This is a game of nerves, haha.
Its a great start and really Its good to be back on hive. This is feeling like dream come true after so long. 😃😃😃
Yep, and hopefully it (HIVE) can hold some of these gains...
Hello dear friend @jrcornel was aware of what was happening here in Hive, but did not know what was happening with the SBD. This are good news.
I share your opinion, they are happy and exciting days like at the beginning of 2017
I followed the Hive dollar is growing, I already surpass 1 u $ s
I wish you a great day
Yes I remembered that pump of SBD back on Steem...Crazy! Is there a mechanism to which we can see how much more HIVE is being created do to HBD pumping?
Thanks Doc-
There is really a lot of interesting stuff going on with the Hive ecosystem.
Today, it is HBD that is taking off and creating some noise. Each day there is something.
Never a dull moment.
Posted Using LeoFinance
wacky
Hi, thank you for tips about not buying HBD right now. Do you recommend buying HIVE right now? Ty!
Good question. I can't really tell anyone what they should do with their money, that is up for them to decide. Me personally, I will be waiting for the dust to settle a bit on things before I put new money to work.
Thank you for your information. The HBD you know is currently listed only on the bittrex exchange. Hbd had a big pump today. We saw $ 2.86. If HBD is listed on new exchanges, will we see this movement again?
It's certainly possible. We should probably be trying to get it listed a few more places.
Hive pump was due to a contest on Houbi. The contest ended yesterday. There may well be good things down the road for Hive, but this pump was not an indicator that Hive is suddenly going to moon.
Do you really believe that pump was caused by the contest?
Look at the chart, contest started 4/23 and pump started then. Contest ended 4/28 14:00 GMT +8 and price dropped like a rock the day before. People didn't want to be bag holders.
Did you actually read the terms of the contest? Also, did you happen to notice the amount of dollar volume being traded these last few days compared with the contest amounts? Also also, did you happen to notice a certain Binance opened trading of HIVE at the same time it dumped... an exchange that was very likely holding a large amount of HIVE being held by one Justin Sun?
You seem upset....so upset that you can't get your facts straight. Do you realize Binance doesn't open deposits and withdrawals until 4/29? Look, I loved the pump, I had over 16k hive powered down and netted 2 BTC. Way more than I expected. Price will further tank when hive on Binance is available to trade again. With that said, I'm selling all my Steem each week it powers down and plan to keep at least 50k in Hive powered up, just to see how it works out.
Binance opened trading, which is exactly what I said. Which means anyone holding HIVE could sell it for BTC immediately, which is exactly what happened when Binance opened. You are getting trading and wallet openings confused, wallets open tomorrow, trading has been open. And by the way go back and read the terms of the Huobi contest before you start trying to figure out what caused what...
Great article, maybe you could see the one I posted yesterday, I talked about the frecuent pumps and dumps that we had and are actually having in Steem, so since HIVE is a twin sister, we could be waiting for the same behaviour, maybe with higher minimuns each time, just like on 2017