HIVE Today!
The price of the Hive is currently 0.48409071 USD. On a trading volume of 6,577,597 USD over the previous 24 hours, the price changed by +0.00900978 USD. Based on a 177,570,872 USD market capitalization, Hive is ranked 185 on the market. There are currently 371,261,454 HIVE in circulation. The highest Hive price ever noted is $3.00. The cheapest HIVE pricing ever is 0.079 USD.
HIVE's PRICE HISTORY
The first step is to conduct your own research before purchasing any cryptocurrency. This entails looking at price history for recurring patterns and indicators that indicate the price of your investment is more likely to rise than fall.
There are numerous methods for analyzing crypto performance and making a purchasing decision. However, two of the techniques are exceptional: technical analysis and fundamental analysis.
TECHNICAL ANALYSIS
Even if you don't have access to years of historical price data in the Hive chart, technical analysis is useful in crypto investing. For example, with many cryptocurrencies, dramatic price drops and periods of high volatility have been followed by a sustained rise to new highs. There is no guarantee that the pattern will continue in the future, but if it has in the past, it is worth considering. There is no guarantee that the pattern will continue in the future, but if it has in the past, it is worth considering.
FUNDAMENTAL ANALYSIS
Fundamental analysis looks at the economic, financial, political, and social factors that influence prices. You gather data on interest rates, GDP, manufacturing, and unemployment rates in order to make educated predictions about stock prices.
News events are also important. Is the central bank raising interest rates? Are fiscal conservatives being elected? Have storms or droughts hampered agriculture, tourism, or other industries?
When evaluating a purchase or sale, most investors believe that it is best to use both technical and fundamental analysis techniques.
FACTORS INFLUENCING THE PRICE OF HIVE
Hive's value is affected by a variety of factors. It, like all cryptocurrencies, was created with a limited supply. This means that the government cannot cause inflation (currency depreciation) by printing money. Scarcity can drive up prices.
The HIVE exchange rate sometimes moves in tandem with or in response to changes in the broader economy. For example, many cryptocurrencies made impressive gains 2 years ago, while economies around the world suffered as a result of the COVID-19 pandemic. This could be due to people turning to cryptocurrency in the face of weak national economies.
Government regulations have a significant impact on the price of Hive and other currencies. Tax policies, investment regulations, mining restrictions, government plans for official digital currencies, and other developments can cause the crypto market to rise or fall.
Newsmakers are increasingly influencing cryptocurrency prices. When a billionaire entrepreneur tweets support for a particular coin or token, the price often rises. An example is Elon Musk’s influence on Doge coin in early 2021. On social media, celebrities are increasingly promoting cryptos and NFTs to their millions of followers. The impact of these endorsements on cryptocurrency prices cannot be overstated.