Yesterday was the day when the hive price was pumped by over 50% and it was a good surprise in the morning. It is always good to see the price going up for the hive but since this was unexpected hence when I noticed the significant increase in the morning then I was thrilled to see it. I also tried to figure out if there was something I missed and I was talking about any positive news, but I could not figure it out. It is obvious that when something new is around, it possibly creates a situation where a lot of people buy the coin, which is why the price goes up, but I could not find anything relevant. When I noticed that time the price was around $0.31, it took me a couple of hours to figure out that this was the pump by Korean users, and that it would not last long.
The price was pumped to 0.34 but when I noticed that time it was around the $0.31 mark. Currently, the price is $0.23 approximately as of now and it is following the downtrend hence it will not be a surprise if it goes further down and stays around the $0.20 price mark.
I tried checking the volume on the exchanges where the bigger volume is done with trading, and this is what I figured out. If you have a look at the below snapshot where I have taken the top 5 exchanges based on the trading volume, you will be able to figure out that Upbit has got massive volume. In normal days the volume for hive trading is approximately 1-2 million USD but its now 236 million in just one exchange and that too in KRW pair. This is one of the exchanges to which only Korean people have access, and other users cannot trade on this exchange which clearly shows that the pump was created by the Korean community. It took me some time to figure out and by that time price was around 28 cents.
I had some liquid tokens lying in my wallet that I sent to the exchange immediately and sold all at market price. I was able to sell at $0.287 and now this price is $0.23 so I am on profit. My strategy is to sell at a high price and buy back at a low price hence if I buy back now then I'll be able to get a few hundred more hive but I am waiting further to see if this price goes down to $0.20 around. If that happens then I'll be able to grab an even better quantity and for that reason, I am holding the USDT that I got after selling the hive.
My strategy is simple I wanted to sell Hive at a higher price and buy back at a lower price and I didn't want to book any profit in terms of USDT instead I wanted to grow my high token balance. I'm still waiting, and I will continue to track the prices for the next couple of days if in case it goes below $0.20 then I will buy back using all the USDT that I got after the hive sale. It is a fantastic strategy, and I have been doing this for long, but I believe it's been a long time since we have seen this kind of pump.
Trust me it's a great opportunity if you play well selling at a high price and buying back will get you quite a good quantity provided you have enough liquidity available for the trading. I have already powered up most of my liquid hive and this is why I could not play big, and I just used 1500 hive. Even with this balance, I am expecting that I should be able to add 500 coins with this strategy which is not bad, and I am just keeping a tab on the prices. This pump was completely unexpected, and this is why I did not have any bigger liquid quantity in my wallet otherwise, I would have easily made a few thousand hive coins in a matter of just a couple of days.
This is the current exchange pricing and looks like 20 cents is not far away I will have some patience. I will try to buy only when it touches $0.20 or if it looks like the price is going to drop further then I will wait for some more time to see if I can grab an even bigger quantity at a lesser price because the ultimate goal is to grab as much as possible. I'm holding USD T hence I need not worry about the marker fluctuation but this fluctuation with high price can get me more hive. Have you also played this way in this pump?
Thank you
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