Hive Price is at depression zone as lots of altcoins. I shared lots of analysis about Hive price chart and I shared my draft as consolidation zone. Even Hive price broke up this consolidation zone, It was a bullish trap and Hive price went down and broke down consolidation zone. Now, Hive price is at depression zone.
0,50 USD was great bullish trap for Hive price. Hive price went down and broke down great support at 0,26 USD. With negative market conditions, Hive price broke down great support at 0,26 USD and entered depression zone. Noone thought that Hive price would break down great support line.
Hive you can see daily chart of Hive. Hive price was in consolidation zone for a year. We are in depression season for two weeks. I think I will take a few months. Market maker wants you to sell your Hive from discounted price before mega altcoin season. He will pick up discounted Hive and Hive price will go down fast as market.
Here you can see daily chart of Bitcoin price in 2018-2019. You can see depression zone what I tried to explain. Market seems as being on the bottom and went down to pick up when you are in depression.
It took a few months for Bitcoin price chart. I think we will be in depression zone for a few months in 2024. It is not time to sell, it is time to pick up.
It is very good chance to pick up Hive and other altcoins. We will see..
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Sadly, it appears that the HIVE witnesses killed the platform when they decided to raise the interest rate on HBD to 20% and the haircut percent to 30%.
What happens is that HBD investors convert their HBD to HIVE whenever the price of HIVE drops. We saw over a million HBD converted to HIVE when the price of HIVE fell below 0.25. A million HBD converted to HIVE created 4 million HIVE ... which is more than the market can absorb.