Whenever there is a fall in the price of Hive or when there is a pump in the price of HBD or Hive, it is party time because we can do some trades and book profits. Today I woke up to see the price of Hive down by a few cents. I was not fast enough to buy them cheap but even at the time of writing this article, the price is pretty decent. I was able to grab some Hive. I'm going to be waiting for it to reach a decent price and sell it back.
As always Hive is one of the undervalued cryptocurrencies we have out there. We have some awesome projects on Hive that can take the price of Hive where it has to be. I'm glad that today I had some more liquid HBD with me to do some purchases. I participated in Hive power-up day and was thinking in my mind that Hive shouldn't pump now because I may not have enough liquidity but to my luck Hive went down reacting to the market situation. I'm sure it would heal back in no time.
About a week back I bought Hive at 45 cents and now again at 42 cents. Upward and downward movement in the market is very important for a market to keep the price stable but traders find the opportunity only inside that to buy low and sell high booking a decent profit. I was having a conversation with someone last week discussing the price of Hive. In a worst-case scenario, if the price of crypto markets goes down, the price of Hive would still be decent at around 30 cents. It is very unlikely that the price can go again below 30 cents and even if that happens it is another buying opportunity.
Usually, it used to be a time when during the first week of every month Hive would have a nice pump. The reason is usually Koreans. The pump can either be in the form of HBD or Hive and if it is HBD, we can do a safe trade because the price will always come back to the pegged value. Buying it low in the internal market and waiting for a few hours for the price to stabilize so that we can sell it back at a high price. The main reason for this could also be because there is not enough liquidity in the market and when a big buyer or a seller decided to enter the market the price either goes high or goes down. That is when it is a party for others because they also help in keeping the price in balance by doing some trading and finally the price is back to where it has to be.
The safest buy and sell would be when the overall market is red and the overall market is green. When the market is fully red, especially because of the BTC price, there is an opportunity to purchase low and wait for a while. When the market is at its peak fully green, there is an opportunity to sell and book a profit. Today I think is one such opportunity to purchase Hive low. My target is to wait for a few more days to see if the price is recovering back to 60 cents or more and then sell them. Even if the price hits 50 cents I would be happy to book my profits.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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