HIVE Gains on BTC and ETH
You probably noticed bitcoin plunged below 20k this morning (my time) and stayed there. Now it's a little above 19k. Ethereum too is below 1k.
I used this opportunity to buy a little bit of both with some fiat. A sort of DCA, but not daily or weekly, but rather by levels.
I kept looking at HIVE all this time, both when I bought bitcoin and then, later ethereum, and it didn't seem to budge even an inch in dollar terms.
I was actually expecting it to move down to a lower level with the entire market, but no, it stood its ground and even increased.
It currently gains over 11% on both bitcoin and ethereum intra-day. And +3% in fiat terms.
Very curious indeed the way HIVE goes against the market right now. And it's not just today.
Just look at the bottom bar from the image above and where HIVE is in relation to its low/high prices over the last month. It's not at the lowest point.
And look at bitcoin:
or ethereum:
I don't know if the wave hasn't reached HIVE yet or if it really holds its price much better than the top crypto by marketcap and compared to its own past evolution in the bear market.
Anyway, I'm on the lookout to buy more HIVE if it dives with the market. Probably DCAing by levels as I did with bitcoin and ethereum.
Time is passing, and I'm not getting much closer to my HIVE Power objective at the year-end, so I need an external push.
But I haven't bought HIVE with fiat (directly or indirectly) in quite some time. I wonder what is the best option available (most economical, without venturing to some no-name site).
Let me know if you have an idea or what's your option.
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I also buy into Bitcoin and ETH at thresholds, similar to Dollar-Cost Averaging - in theory, it's called a "Buy Stop Order." However, by placing that order, you are effectively announcing to the market that there is support at that value; if enough people do, it could allow more market manipulation. I've been buying some HIVE, too, although I do that via Binance and the BUSD pegged "coin".
At the amounts I'm buying it doesn't really matter if I'd set buy stop orders for bitcoin or ethereum. Might be a bit different for Hive, but not much.
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Correct! Each of us individually is a drop in the ocean, but if thousands of buy orders from different investors exist at a specific buy limit, it is open to abuse by market makers (i.e. commercial banks).
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I am in the same opinion. I thought hive is gonna follow suit when BTC and ETH fell. Planning to buy hive when the price drops.
I share your viewpoint. When BTC and ETH plummeted, I assumed hive would follow suit. I intend to purchase hive once the price drops.
What if it doesn't drop, lol?
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If it didn't drop, that means my HIVE tokens' value either stayed the same or increased. lol
Good point, lol!
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I saw some big spikes in the 24h chart for Hive. I think someone loaded up their bags and would explain it going against the market. Still, it's close to the top 100 coins by market cap which is awesome given the markets
Great to see that. In the past, we were used to the reverse: when markets tanked, our token got hit harder,
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I have to admit that it is a pleasant surprise seeing HIVE outperforming BTC and ETH! I didn't buy into either of those two as I'm short in fiat... lol...
But, I did exchange a lot of assets to HIVE and if it goes into the 0.20-0.25 range, I will go even harder... Happy that I have bought a nice chunk!
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It was a nice surprise to me too. I was actually waiting for it to go down with the market so I can swap some SWAP.HBD to SWAP.HIVE. But the market action proved me wrong, today, on HIVE.
I like to see Hive at some 15K satoshi level still undervalued by atleast 8x.
I will like to go liquidity pool for buying Hive like Polycub because I do not want any KYC in any Exchange.
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Yeah, if you look at the big picture, Hive was undervalued for a long time and still has some catching up to do. I just didn't think it will do it in the bear market.
Liquidity pool is a good option, but it doesn't work for fiat, afaik.
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I'm also surprised by the action on Hive. Even BTC breaking $18k now hasn't tested Hives lows..
Seems like someone is accumulating HIVE more aggressively. There are a few long wicks today.
My thoughts are if Hive doesn't go down with Bitcoin, I will hold BTC and wait for the 0.00001500-1600 range to hit anyway.
Yeah, your thinking is very sound for this situation, I believe.
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I always used Binance to buy Hive, it only costs me 1euro to deposit the money with a SEPA transfer. And it looks like they also have the lowest price as well except for the top two that have a bad trust score.
How about via the card? The fee is 1 euro as well. As long as there aren't other hidden fees.
"Via the card" where is the fee 1 euro? On Binance if you want to use the card, fees are 1.8%
When I bought bitcoin via the card, the fee they mentioned was 1 euro. It might be a percent, I made a 50 euro purchase then.
I think it's nice to see Hive doing well against BTC and ETH. Its price is correlated so I definitely expect the prices to following the trend set by BTC or ETH eventually. However, it might not go down or up as much.
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It looks like bitcoin took a beating against other alts too lately. Probably many leveraged long positions are squeezed hard nowadays.
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Applying cryptocurrency is where ppl gain trust, hence leading to a more powerful fiat pair.
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I have been watching them as well, Adrian. I don't feel that there is as much panic selling in the Hive community.
Yep, there seem to be fewer people acting out of panic on Hive, which is good, especially for them.