We all make mistakes. I made one at the beginning of the week.
I casually checked the price of HIVE, and spotted what i thought was an amazing opportunity. The price had suddenly spiked. Woo-hoo !
Screenshot by me from Coingecko
I've been really low on liquid HIVE for a few weeks, but have had lots of car expenses (seems the new car I bought is turning into an expensive lemon...) so I can't afford to put any more fiat into Hive right now.
But when I saw the spikem, I assumed it was another one of those brief blips we get every onth or two when some external price speculators come along and create a temporary pump followed by a dump back to previous levels.
So in a wave of enthusiasm, I converted most of my liquid HIVE (all 25 of it) into HBD. This was the last of the HIVE I'd bought at a price of £0.14, so to get 13.405 HBD is an impressive gain.
My plan was to wait for the pump to finish, then covert the HBD back to HIVE thus gettng a nice boost to the amount of liquid HIVE I was sitting on.
Did the pump finish ? Nope. It just kept edging higher. On the one hand, it's awesome because it feels like HIVE is finally getting to the kind of price it should have, and I want it to continue like that. But on the other, my liquid HIVE is now almost all converted to HBD and I might have to find a way to buy some just to meet my SBI commitments.
If the price stays high, though, I'll just put those HBD I bought into savings and watch the interest roll in. Or I might create a HIVE trading account and just trade on small movements to gradually work the value up further.
Ah, the joys of volatility !
Posted using The BBH Project
