While I was busy with family duties, a friend texted me at midnight and said Hive was trading at 30 cents, which did not surprise me. He was the more knowledgeable about crypto, and he began brainstorming about what must have caused the pump, and without hesitation, I told him it was the Koreans pumping in Upbit or somewhere.
The majority of the users here who saw the 2017 and 2021 runs are familiar with this. They wake up at midnight to an 80 to 100% pump, which can occur multiple times during a bull cycle.
Hive is an easy coin to pump; a few hundred thousand million volume and we are already seeing a significant pump, and while this pump will have no financial impact on you, seeing a cosmetic increase in the value of your asset will do a lot of good for your emotions.
Arbitration Opportunities
Many people will take advantage of these pumps if they have liquid Hive to buy HBD and then convert back to HBD when the pump begins to dissipate. I did not consider this at midnight because I did not have enough liquid Hive.
I did not do this in 2021 because I was more concerned with powered up Hive and the Curation reward that comes with it. I know I missed out on a lot of the arbitrary opportunities that came with those pumps, and many people will be preoccupied with increasing the liquidity of their bags.
Une autre répétition?
We have seen this before, exactly as it happens at midnight, but we were probably too naive to understand what it was. I will not bore you with the technical details of this pump; instead, I would like to focus on it as an important catalyst.
Most of the time, we know that crypto is purely sentimental; people are ecstatic when prices rise, so whether it is temporary or cosmetic, green screens with pumping prices give people adrenaline and keep them busy, and at this point, I believe this is exactly what Hive needs.
I believe people will begin to realize"Oh, I think I need to hold onto my Hive" and panic about missing out, despite the fact that it was only a 60% pump and nowhere near the real deal.
The Hive Faithful Needs This
I believe those who have faith in Hive deserve this. This is not a diss statement; I believe they do. There is not a day that goes by without someone FUDing aggressively on their post, and it is always depressing.
Again, this pump is insignificant in the grand scheme of things, but when you consider that people require something to be hopeful and excited about, you will see how important something like this can be.
For example, we have been screaming about proper marketing to get our product in front of crypto users who truly want what we have to offer, and despite spending so much money on influencers, race cars, and other things, we have failed to make it happen for so many years.
Imagine being able to spend a reasonable amount of money while still getting the Hive product to the people who truly need it; it would be a miracle, something no witness or anyone else has been able to accomplish. There is no doubt about the Hive product; we simply do not have enough sophisticated tools to market what we have.
In Conclusion
Going forward, I believe people should be reminded that all is not lost and that they have something to be busy with. Of course, these pumps are only temporary and will not last very long. In fact, the effects of these pumps may have completely evaporated in a few days, leaving nothing behind, but expect a lot more of these pumps, most likely at midnight when you least expect it.
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