A few days back I wrote an article saying that I bought a shit load of Hive with my HBD from savings. I was able to purchase over 9500 Hive with my 5000 HBD. This is definitely a huge investment and I have never done anything this big before. I'm glad that I got this opportunity to purchase Hive this cheap. I know for a fact that my profits won't be coming anytime soon but I'm waiting to increase my Hive power so that I can reach my goals for the year soon. I might power up to around 10,000 Hive on the first of next month.
I set myself a goal to reach 50k Hive power before the end of this year. But I did not expect the Hive price to go down like this because of the bad market. I would say this is a good thing because we can earn more Hive from posting as well as from curation because of the low price of Hive. That's one good way to increase the Hive we get. If the price of Hive goes higher, the value will be high but the number of tokens we would be getting will be less.
I initially thought of powering up all the Hive immediately after my buy order was filled but then I thought I should wait for some days so that even if the Hive price goes a few percentages higher than my bought price, I can quickly book some profits or do some swing trades. In addition to that today I also realized that in another few days Hive power-up day is also going to come. It is more like a Hive thing to do a power upon the first of every month. I have been doing this for the last 2 years and I would continue to do the same. This time I'm glad that I'm going to be doing a huge amount of Hive as a power-up.
Predictions on Hive price
I personally feel that even if the market recovers back, it would take some time for the price of Hive to get back to what it was before. The main reason is that when the price fell down, many investors used their liquid stable coin funds and HBD to purchase Hive. This made people get a lot of Hive for a cheap price. There is also a high possibility that people might sell the Hive back to book their profits when the price of Hive pumps.
I don't think people would even have the patience to hold till 1$ to sell their Hive. They might as well sell their Hive when they get a decent percentage of profit. Only a few people would be interested to power up and locking Hive and staying invested. Considering this situation, I think it can take some time for the price of Hive to settle around the 1$ mark again. It can even take up to a year who knows. That's one of the reasons why I wanted to power up my Hive and wait patiently.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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Posted Using LeoFinance Beta
This is really huge, here lies the opportunity to stack more.
Wonderful Mr. Whale. It is great that you are able to power up. I think you are right about the price of Hive.
Posted Using LeoFinance Beta
Thank you cheers!.
Not selling before 5$ at the minimum, expect even higher in 8 - 10 $
That's nice. I might book some profit at around 1$ but I'm going to be holding the major chunk long term for sure.
By the way, I would appreciate if you support me by voting me as a witness on Hive. 🙂
100% , send me the link.
Thank you. You can use the below link to vote.
https://vote.hive.uno/@balaz
I won't be selling HIVE until 2025, so I don't even care if it goes back to $ 1. Your move to convert HBDs was exceptional. The compliments.
Thank you. Cheers!
2025, that's massive.
I can't even phantom what price hive would hit by then, clearly, that's not a topic to talk about.
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Congrats in advance, Bala.. this is huge .. really.
Posted Using LeoFinance Beta
Thank you so much. 🙂
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You got huge things planned bud, just curious what does a witness do before I vote for you !CTP
Posted Using LeoFinance Beta
Lol. Witnesses are responsible for keeping the chain live. They are basically from different parts of the world running Hive software on a very good machine and help in maintaining the decentralization. Hope you got some badic information. 🙂
Thanks You got my vote, but I wanted to understand what I am voting for !CTP
Nice purchase, @bala41288. That is a lofty goal for the year. Good luck with that. The market is most definitely in your favor.
Posted Using LeoFinance Beta
Hopefully. Thank you so much. Cheers!
That would be one heck of a power up ! I was thinking of going for say 20 or 30 which is a lot for me - Lol !
All the best with it.
Posted Using LeoFinance Beta
Someday you will reach there. Cheers!
I hope to see you as a whale soon. Great going and God bless you and no evil eyes on you.
Posted Using LeoFinance Beta
Thank you so much Sayee. Let's grow together. 🙂
That is a lot of Hive you are powering up and I also agree that there are a lot of people who bought Hive cheap. So I expect some resistance moving back up without any type of catalyst happening.
Posted Using LeoFinance Beta
Yeah we need some external investors doing this job for us.
Now I am planning to use Power Up day, basically for the first time (I think I did it once before without understanding)- So what do I do on June 1st? Do I claim my pending rewards? Do I delegate the Hive Tokens I have ? What do I need to to on Power up day, I am sure everyone knows...but hey I am still a HIVE Baby- !CTP
Posted Using LeoFinance Beta
In order to participate in Hive Power up day. You have to power up Hive on that particular day. You get some rewards for doing so.
That I kinda got, but I got HBD, HP and Hive oh and LEO so on the first of the month which one do I use (Power Up)just the HIVE right? So I can claim my HP and HBD pending reards without any impact on the power-up. Sorry for the baby questions, just never asked these things,
Leo is a second layer token on Hive. So, Hive and HBD are primary tokens.
Thats a big move. Im unsure whether to buy now or wait if it goes down. But then I could miss out.
Posted Using LeoFinance Beta
Yeah I agree that it is hard to decide.
That's amazing and yes, huge! PUD is just around the corner
Posted Using LeoFinance Beta
I am holding on to my Hive and buying more while it is low. Thanks for sharing.
Posted Using LeoFinance Beta
Good luck. Cheers!