First Time I Felt FOMO This Bull Market
Maybe if I had had in my portfolio some meme coins going up 10x or more in a short while, I would have felt FOMO until now. But nope...
I liked it when BTC reached 100k (crossed it again today), but that was sort of a given. I was excited when HIVE finally woke up and started to go up, but that wasn't FOMO.
Well, today it was... I have seen the 26%+ increase in the price of HIVE, and yes, I caught it when it was at the top. By all indications, it was started from "our friends" from Upbit. But unlike all other times, I didn't sell any HIVE on the way down to make what other times would have been a sure intra-day profit.
Why not? Well, for several reasons... HiveDex hasn't been working properly for a while, and therefore I watched alternatively the market on Hive Blog and the chart of HIVE on CMC for HIVE/USDT on Binance. If I had still been using Binance, I would have sold HIVE there, at almost 0.42 (let's say 0.415), and buy it back on the internal market at 0.375 or whatever I could have caught it at. That was at least 10% difference to arbitrage. Not as much of a difference anymore, but still... Then there was some expectation for the price to move to a lower level after the pump, but I wouldn't bet on it this time around. Or the risk is quite high that it won't happen as people expect.
I watched the transactions on the internal market for a good while in the morning, and I can tell you, there a big buyer who doesn't care much about the price, they want the liquidity. They hit sell orders of above 5k and 10k HIVE without blinking at some point. That of course doesn't mean much in dollar amounts for someone who has the funds, but it was unusual until recently on our internal market, from my observations.
I suspect we are not talking only about Koreans here, except maybe at the beginning. We are talking about someone else, maybe connected to Dash, maybe who has seen the recent advertising push from Inleo and Dash, and understands Hive is the layer 1 chain that Inleo uses.
That's what gave me FOMO. That's why I couldn't hit the sell button, even if I caught the top. I wasn't sure I would be able to buy back at a lower price. Every time I sort of made up my mind, the buyer hit the sell orders on the internal market and up to 10k vanished in a matter of minutes.
Currently, the price on Binance is 0.3945, which is above a strong resistance. The price on the internal market is still way behind at 0.376, but better than a few hours ago, meaning the gap is closing.
I don't regularly check the daily volume on the internal market, but $200k seems reasonable:
Note that there is only 75k HIVE on the sell side till after 50 cents, even if it looks way more than the buy side. But both sides are stuffed with higher orders than not long ago. Right now, both sides seem to be calmer than in the morning though...
Of course, it doesn't compare to this:
$366m volume on CEXes, 5000% more than the previous 24 hours...
Posted Using InLeo Alpha
It's a pity we don't have enough CEX in which trade HIVE, the arbitrage was a clear opportunity
Yes, it was. I haven't re-updated KYC on Binance, so I can't use it. It would have been an easy 10%.
I won't be selling yet, but this will give the community a boost. I really hope the Dash community will get into all that Hive offers. If we can get some Reddit groups to move over it could be the start of something.
Enjoy the ride.
!BEER
Yep, it would have been an intra-day move for me too. Practically, I wanted to get more HIVE at the end of the day than at the beginning. But the day was too spicy for my comfort, other than the potential of an arbitrage, which I couldn't make happen due to not having full access to Binance.
Yes, some Reddit groups could make things move, even though we have a pretty good volume on CEXes during such events.
I have seen a lot of my coins go up 10-20x in the past few months while hive went sideways to its really nice to see hive have its big green days like today. I can see hive easily going over $3 in no time. Don’t round trip it, make sure to take some gains out over $3
Oh yeah, I'm definitely going to take some profits this time around. It would be a shame to lose another opportunity with another cycle of experience.
We should probably work on many other CEX for Hive even if Binance seems to be the gold standard. Arbitrage opportunities are mostly underrated but they can give you some sweet returns. I think the FOMO won't spread until we probably hit 50 cents, in maybe a shorter time, probably before the end of the year
Coinbase would be a nice addition for people who prefer CEXes, but it's not an easy process to get there for Hive, which is not a "standard" blockchain.
I don't know where FOMO would begin. I only felt it when I thought about the possibility of selling Hive with the intention to buy lower, and FOMO kicked in realizing I might not get lower prices soon, so I gave up on my intra-day trading intention.
It's kind of crazy to see all that change in the internal market. They are just buying like crazy, but I won't complain if Hive price is higher. Overall, I think Hive can go higher due to a lot of factors and I wonder how far it will go.
I won't complain either, lol. But we have to be careful about FOMO. It's still early, but once HIVE hits 1$, maybe 2-3$ or more, people will feel invincible around here.
I think I'm getting a bit of FOMO after reading your post, especially the last part! Looks like the start of a new momentum or bull market impulse?
This kind of volume is not unheard of for Hive, when Upbit guys work their schemes. But this time held for more than 24h, which is a premier during this cycle, but not a premier for Hive in its history.
Today's price up is good and like you said that selling now comes with a risk to not get buying back opportunity. As you mentioned that you could not sell on Binance due to some kyc issue, this also calls for a need to have #HIVE listed on DeX.
I don't know how easy or tough it is to get hive listings on DeX but it should happen. What are your thoughts about it?
We have HIVE on Maya Protocol. I think we still have it on BSC and Polygon. What we probably don't have is liquidity and listings on major DEXes.
Personally, I am a fan of DEXes, as opposed to CEXes, but we work with what we have, while more options are developed.
Until ETH breaks ATH, I think there is room to trend higher for now. Personal view of course. Hehe. Interesting stats on the Hive trading activities. Not complaining with the jump in price, and I am also reminded that Hive used to be at MUCH higher levels in the past. Haha.
You have a point. I expect HIVE (and ETH) to keep going higher after ETH reaches ATH.
You'd be surprised how quickly higher levels can be reached when a small cap pumps.
That was a pretty epic move today. I am glad you finally got some fomo, i was starting to think you had no feelings.
Funny! I watched Equilibrium yesterday! Turned out the best cleric had feelings after all. The no-feelings society wasn't so perfect after all.
It's a pretty epic film.. one of my favorites, also Bean is one of my fav actors.
The difference you saw was because the internal market shows prices in HBD, and HBD was over a dollar...
80% of CEX trading was on Upbit, so this is a clear Korean pump and dump... btw. I don't know why people think that the internal market, is "only internal"... Those fund goes out and in from HIVE, making money for arbitrage bots... The internal market is as valid as any other market until you can deposit and withdraw funds... This reminds me of the CUB story when it wasn't possible to do it for days, and the price was way off than the "regular" one...
Let's see if I will get 15% more HIVE on the way down... I did risk some HIVE to get more... 😃 (tbh, deep inside, I would like to NOT get any.. and to see this price holding and going further up... 😂)
Yes, I know the internal market is in HBD, but HBD wasn't so high to justify a 10%+ difference. There was an arbitrage opportunity for those who had full access to Binance.
Maybe it was an Upbit move entirely and I just got the FOMO by watching the transactions.
You may very well make some profit after this. I hope you do!
HBD was at $1.08 at the peak this morning, but I do agree, that there were many arbitrage opportunities... the problem was the lack of HBD, I suppose... Speaking of that, if you like safe bets, there is an arbitrage opportunity even on HBD-SWAP.HBD... We have a new player in town who does those exchanges, and you can even earn doing it during this kind of event...
https://hbd.uswap.app/
But there is very low liquidity as they just started it...
Not sure about it as HIVE is still holding nicely!!! It looks like a FOMO hit for some peeps on HIVE but in the opposite way of what it hit you... People are afraid that they will miss HIVE at $1 and buy it after the Korean pump... nice side-effect of pump and dump schemes! 🙂
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Very nice exploration of the current HIVE price action. Reblogging to get more eyes on your post and the comments.
Go HIVE!!!
Thanks! For the reblog too!
I think a lot of people will sell if it gets to 0,5$
I won't. Unless, it's a decision for the short term or time keeps going and bull market closes to an end. I believe HIVE will go to 1$ minimum, but we can't know for sure.
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BEER.do you think hive can reach 1$ ? or need btc to pump more?
It's still a long bull market... I think so and more, but we will see.
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