Temptation to Buy Hive Now
Hive is going down and down and now as of writing it is less than $0.20, in the $0.18 range to be presice. When the Hive came down to $0.5 last year we thought it will not go down further and bought some, and when it was at $0.3 again it will not go down further bought more.
PC: CoinMarketCap.com
But now it has gone down even more, and again the temptation of to buy more. But you never know if it will go down further or not. Think about it, Bitcoin is at $55K. If Bitcoin price comes half I.e. around $30K, then Hive can also gp down further might be it can go down below $.1, who knows. So even if you buy today you will not be sure if it's gonna go down more or not.
But that's the part and parcel in cryptos. What goes up, goes down. When Hive went down to $0.5, we thought getting to $1 is a matter of time. But if you ask me today getting to $1 is like a big achievement for Hive. To be honest, I want Hive to go up and up but somewhere I feel we will not see Hive atleast for some years to go beyond $1.
But if you are a long term investor like me, then this ups and downs shouldn't matter. Like me, I am thinking this is a great opportunity to buy more Hive. I even started cashing out from the Savings so that I can buy some Hive. Getting more Hive is a great thing and thus who would want to let go the opportunity when Hive is at such a low price.
To be honest, I will buy some Hive if it remains in the same range after 3 days when my savings arrive and will continue towards my goal of having more and more Hive Power.
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It all depends on how much hive is circulating as well. If there is more hive circulating than there was when it was over a dollar we will have a harder time hitting a dollar as more money is needed to push the price up than before so more money would need to come into the community and people would need to hold vs sell and the longer it stays lower price the harder it will be to increase as well as people who accumulated will dump some or all if it say doubles and they can now profit on there positions. I agree a dollar hive is pretty far off or at least a sustainable dollar hive. It might spike there but wont stay long.
I think it also has to do with some large splinterlands players selling out and that would put preasure on hive bc they would sell for hive then probably sell the hive and send it off chain pushing prices down right now.
Will prices get back up if people leave hive as well depending on Splinterlands and if it can recover well will either help or hurt hives performance as many useres are here only bc of SPL and would leave if it was not here.