It's become a thing in crypto to expect bulls and bear markets coming and going in 3-year cycles. But stats and trends are only true until they're not. Prices go up and down when more people decide to buy than sell and vice versa, irrespective of past trends. So are we already inside a new bull cycle?
We all witnessed HIVE rocket up 40-50% this weekend. This also comes on the back of a pretty decent rise in the value of Bitcoin, having stayed steady at about $16,500 for a while during Christmas and new year's eve.
There were some discussions on @thejohalfiles’s post earlier asking if people thought Bitcoin would dip even lower before the turn of the year. My position was that I thought the dip we had seen after the whole shitshow with FTX and SBF, the market had overreacted. Thus, I said I would not be surprised to see at least some recovery. However, I was a bit surprised to see just how quickly it soared back up beyond $20k, having looked a lot like a stable coin at $19k for months prior to the FTX scandal.
That said, I think the reason why some heavy hitters felt the urge to load up on BTC now is the same as why I decided to buy back HIVE 2 months ago at $0,3 / 1700 SATS: Regardless of whether the price keeps on going lower or not, now is still a relatively low price. And IMO, it is better to secure a position at a relatively low price given a strong belief of future returns, than to risk missing out waiting for “the perfect bottom”. AT least that was my logic when I powered up 8k HIVE two months ago.
I don't care if the price dropped a little bit lower after I bought it back (from about $0.3 to $2.5), I only care that I got back in at what I believe was a low price compared to where I think we're going. Likely, people who have been buying Bitcoin the past month have been thinking the same.
So what are your thoughts? Was this just a small bump in the road further down? Or is the market now more mature than it was back when it followed predictable cycles? Anyways, I'll continue to do what I do, and stack the few tokens I believe in while powering up and saving more HBD :).
It's hard to know but after 6 years on hive I'm happy to buy at under 50c and the ame goes for Bitcoin under 20K.
To me those are both sale prices and ones that will make a nice gain in the next couple of years if not sooner.
I don't know where the market is sitting but I know where my value is going to be held.
Posted Using LeoFinance Beta
I saw @demotruk say that the $HIVE pump was down to people trying to cash in on $HBD. It's still a lot of money to throw around. I expected the price to fall again, but I always hope it settles a little higher than before. This sort of thing may get more eyes on what is going on here. We have so many cool projects, but don't seem to get much media coverage. Just seem to get by on word of mouth, but that is slow.
At least by buying of a few thousand $HIVE at the start of the year is looking like a good move so far. I just want to grow my HP.
Regardless of the reason, it does show activity and interest on HIVE. So I always consider it a good thing! Idd, let's hope it stays at least a bit higher than before.
I honestly don't know what to think.
Rationally it seems strange to me that we are already in a bull cycle because inflation is very high and people clearly spend more money than before on essential goods.
However, with the FED saying that it is already beginning to be visible that it will be able to escape the recession, it makes people more comfortable to make investments.
Currently I continue to look at everything very carefully so as not to have a huge descent and get caught in the middle.
If you're looking at the macro side of things, markets is definitely bouncing back not because things are looking good but more like it has to - after all that's happened in the past 1 year.
I believe most of us had been here during the last 1-2 cycle that can kinda recognize how sentiments are like prior to bull rallies / selloff and I bet what's happening right now feels familiar to some of us.
on the Hive side of things I think we're good, liquidity looks pretty much the same as it has been for the past couple of years and I am confident Hive is one of those altcoins that will stick around even if its no longer in the mainstream spotlight, like so many bitcoin forks and ICO coins that stuck around even after narratives changes.
If I have to guess, Hive will probably float with BTC / ETH price and go up in dollar terms if the market do rallies.
I’m not really concerned about the timing of a bull market. If at all possible, my plan is to never power down. Sure, if there’s huge run up, skim off some liquid $HIVE earned from delegations and maybe some HBD. But never touch the HP. For when I die, my wife already has access to my keys.
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the next weeks will be the test; if w can make a higher low the bull is back :)
I kind of have a feeling that people are losing faith in FIAT and starting to move more into crypto. But also with the crack down on stablecoins I also feel like people are moving out of them back into crypto like bitcoin
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