Crypto Winter Has Blurt Frozen Still as Hive Cracks
Crypto Winter is upon us and it's not looking too good for Hive. Blurt is holding it's value a bit better than Hive which has been very volatile lately.
Hive's value has been falling lately due to an abundance of supply and with slumping with support. Hive's value against the USD is $0.347, it has fallen around 4% in just the last 24 hours. The cryptocurrency market as a whole still has not recovered yet after the fall of FTX and the scandals that surround it.
Blurt is trying to keep its position around 0.0095 Hive - 0.01 HIVE, and I'm optimistic that Blurt will rise against Hive. The fluctuation of the Blurt value in USD isn't exactly a perfect track; there are no high volume trades happening with any US Dollar backed Stable Currencies. The two major markets of Blurt are heavily reliant on it's trade against Bitcoin and Hive (Hive-engine), although BBlurt on BSC has been making some moves. My prediction range of Blurt is still remaining relatively the same. I value Blurt at around 0.012 Hive, however a more practical range is 0.0105 HIVE - 0.012 HIVE.
I'm still making some small incremental purchases of hive around 0.01 Hive on Hive-Engine.
I fear that HIVE burned itself with the 20% interest on HBD.
The big players have been converting HBD into HIVE. A million converted HBD produces about 3 million HIVE that the market must absorb.
I fear that HIVE will continue to be held down by HBD conversions until the witnesses finally admit that selling HBD at junk bond rates was a bad idea.
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I agree, it's been getting pretty crazy here. I've been basing a lot of my recent opinions about Hive on the FTX scandal, and a post that you wrote almost two weeks ago about the conversion of HBD to Hive. This is why I'm a little more optimistic about Blurt rising against Hive.
https://peakd.com/cent/@esecholo/why-im-buying-small-increments-of-blurt-on-hive-engine-or-blurt-comeback-imminent
https://peakd.com/hive-167922/@yintercept/users-converted-over-1-2-million-hbd-to-hive-during-the-dip-this-month
Blurt has the advantage that it is a completely different blockchain.
They have one weakness ... the swap program used to get money in and out of the blockchain.
Back when Blurt was on the ropes, I made 2 transfers of 1000 BLURT into my blurt account. Only one of the transfers made it.
So, I've been mad at BLURT. Of course the problem was with their swap program. They have probably worked it out.
!BEER
It has been hitting us very hard lately. Hopefully things can get better!