Sold Hive yesterday and today Hive is up
The Hive price was doing good today. I guess this was an effect of the entire market doing well today. Yesterday the price of Hive was at 27 cents and today the price has improved and it went over 29 cents. Some people might say that this is just a small change in the price but we all know when the quantity is high this two cents difference does make a lot of difference.
I have been moving some Hive on my exchange wallets for nearly a month now. I had them in one of my Hive wallets as HBD and when I converted it to Hive, I sold them for 29 cents. For some reason, I had to take the funds to the exchange wallet and had to convert them to stablecoins. I wanted to convert it back to a stablecoin immediately but the price was continuously going down. I couldn't wait and sold the Hive for a loss. I bought Hive for 29 cents and had to sell them at 27 cents. I bought huge quantities and it does make a lot of difference.
Yesterday I closed my last deal and converted nearly 2000 $ worth of Hive back to USDT at 27 cents. After a few hours, I saw the price of Hive improving and today it reached a little over 29 cents. This shows how unlucky I was. I'm not going to be selling any Hive for the next few weeks because all my deals are over and now I'm sure the price of Hive would also start improving. This is how the market tricks us and tries to make us lose our money. We have to be a little careful.
I would blame HBD for this and this is definitely a lesson. There was no other way to take HBD to an exchange wallet. If there was an easy option to directly take HBD to exchanges and trade them for Hive or USDT or other stablecoin, this would have not been the case. I converted it to Hive in the internal market and tried to avoid any transaction or conversion loss and finally ended up with a loss of around 200$ for yesterday's transfer alone. I guess I would have lost at least 1000 $ in this conversion loss in the last few weeks when I moved the other funds and converted them to USDT.
We need more exchange listings for HBD. Especially we will need the pairs against USDT and there should be some easy way to take the funds out from Hive and convert them to USDT on exchanges. Losing a few dollars in the process should be fine but losing more in the conversion process doesn't make Hive a better chain than ETH. I'm not trying to say bad things about Hive here but mostly this is a practical problem for someone who would like to invest in HBD and withdraw HBD to their FIAT. They have to go through the transfers only in the form of Hive and there is some loss during transition.
Hopefully, let's hope there will be some decentralized bridges available in the future to make this process an easier one, especially without any additional loss or cost. Other than this experience I think it is definitely a good time for Hive now. Hopefully, I can recover this loss in some of the future trades that I can do because the price of Hive is doing good today and hopefully it will keep going with an upper trend.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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Posted Using LeoFinance Alpha
Now that's a sucky one bud! Perhaps you'll catch the next wave....
Me personally, I think I should start stacking up again... I sold a whole bunch almost half of what I had... Now I need to get it back 😂
Yeah it is not like I'm also selling everything. I'm going to get most of it back too.
Yeahp we just have to before it pumps again right 😂😂
How funny that it also happened to me last time. I never thought that Hive would rise in the next few days and sell at the dip. But still, all is well.
You should have sold sooner, then the price would have increased sooner too. 😄
Lol I did sell some more yesterday and now you see the new price. 😉
I appreciate it. I think we're all grateful for you helping raise the price.
Lol! The market is truly tricky, I believe the best thing to do is to be careful like you said
I wish you good luck in the future trade
Yeah true. It is tricky.
That's why we keep preeching it,
HODL Hive.
Interesting to see how $HIVE is behaving according to the market.
The market reacts from supply and demand. Just hold the wrong part of the stick for a moment.
Looks like the demand is still very good.
Sorry about that. Hopefully you can indeed recoup your loss with future Hive trades.
Yeah hopefully. 🙂
Exactly the same thing happened to me yesterday I had to withdraw some money for expenses and sold it and now the price has gone up. If we give it then its price goes up but there is no problem if we are patient for some time we will see after some time it will give us very good profit.
I don't know why, it happens to me, I sold 300 hives, and today Hive is up. what a bad luck.
Happens to me all the timeðŸ¤. After I sell, the price will go up. One of my friend had made a profit on this superstition too that when I sell, he buys and sell when the price go up.
Lol wow. Lucky friend.
I think the volatile number of cryptocurrency makes it difer from other investments. In a second it can skyrocketed and in another second absolutely bearish.
I think your experience isn't surprising cos i have had similar occurrence happened to me. I think HBD is more stable and should be sold instead or maybe i i'm wrong though.
I'm sure you will recover the lost. But there is no certainty that hive won't bearish in another Couples of hours .
from the bottom :)
🙂