The price of Hive in the next Bull market, Are there factors that can influence such price?
Hello Hive.
Getting to know the exact bulk market price of hive for the next bull run might be a bit interesting but having knowledge of what might influence such price is an excellent one.
In what directions HODling or dumping influence such price
And if hive users are Investing and building this token
And does news and other influencial personalities have an influence in the price of Hive just like it often did go Bitcoin and the crypto market a times when we get to hear crypto twitter muse about how what someone has said about crypto pushed the price either up or down.
Having witnessed the low and high price of crypto's for about two years now, it is not much of a difficult thing to make a prediction of price based on such experiences.
Mind you these can only be a pointer and not just some accurate statistic.
Cryptocurrencies has a highly volatile market and even though we might be able to predict the direction of volatility, it might be a bit difficult to predict the exact prices.
We all saw an ATH of $66k for bitcoin in the previous bull market, and till today am still amazed how this all flushed down to $17k and below.
Speaking about hive,it also experienced a down trend from a $3.5 to an ordinary $0.25 cents.
Are these prices also influenced by people and companies as we have it that the very same time Tesla stopped accepting biotin as payment was when the prices started traveling down, maybe the News and other Financial talks also has an impact in the price and direction of crypto.
Having hive at $7 in the next Bull run would be like doubling its previous ATH.
If this holds and Bitcoin also doubles in price, it will be a wonder to see the huge amount of money in the crypto space as alot of people are making use of this bear market opportunity to buy the dip.
Buying hive even at the current price of $0.4 would not be a negative investment if you want to go long and sell at higher price values of $10 and above.
Even an $100 investment into hive now will make a huge impact later in the future.
What are the factors that influences the movements of the price of hive, if any?
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Certainly the news (which is what we in our business know as fundamentals) have a great impact on the price of cryptocurrencies, however; it is also necessary to do technical analysis so that we can get a slightly more precise idea of where it is going it drives the price of cryptocurrencies specifically.
Because the truth is that all the prices of any serious cryptocurrency (like Bitcoin, like Ethereum, like HIVE) are moved by fundamentals, but there are many fundamentals that we cannot know because they do not go out to the public; or we just don't find out about the news in time, then that's where technical analysis plays its important role in the whole game of forecast in trading.
I also agree with you that now is a good time to buy HIVE with a view to the long term. Very good post, greetings.
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Thanks for sharing, I really do not know these.
And am glad to learn more
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