Purchasing Hive Tokens (BTC Halvening)
Just a handful of days ago we seen BTC hit new all time highs and the HIVE Token spiked to $0.50 USD around that same time frame. Hive is currently sitting just above the $0.30 USD mark. So what is going on with all this action? Why such a spike followed by a massive drop in USD value? I believe its because of the BTC halving that is taking place on the 20th. If I were to wager what we witnessed was crypto-whales playing in the market getting ready for this halving. The question becomes are they done playing? Will we see more action on or just after the 20th? I'm placing my bets on the possibility that there will be some sort of movement. So with this information at hand what do we do? While others might of been making bank on trades with these spikes and dips I decided to hold. Well up until this point I was idle; I decided to take action because the HIVE Token USD value being at roughly $0.30 USD is whispering little sweet nothings into my ear. Saying things like "its time to purchase me". Being a man of self respect I held out for as long as I could but everyone has their breaking point. I had a small amount of HBD ($222*) in my wallet savings and decided to power it down to make it liquid for the purpose of trading it for the HIVE Token. By the time this post goes live my power-down should be done and from there its just a matter of completing the trade using the Hive Blockchain's very own in-house trading platform (Found in the wallet section).
Doing some quick math (0.31 x 720 = $223.20) so if the HIVE Token price stays around or under the $0.31 USD valued amount it currently is floating around I'll end up with 720 Hive Tokens to add to my pile. The more I think about my HBD:HIVE trade the more I like the idea of doing it. I still have HBD ambitions but since I barely got started with those ambitions I don't mind taking a step back to up my Hive Token holdings. I'll get back to my HBD hoarding at another point in time (That 20% APR for HBD savings is also very enticing). Its likely I wait until days end before completing the trade as HIVE is testing the $0.30 mark and if it breaks it, that means more hive for my trade. Of course there is a slight risk that the HIVE Token will spike while I procrastinate. If that be the case I won't be all that sad about it because in the end that is what we all want to happen (For Hive To Moon: there's a word I haven't used in awhile, Moon). So what do you think of this roller coaster? Do you think it has anything to do with the Bitcoin Halving or are markets just marketing? Lets us know your thoughts below in the comment section. This post does not contain financial advice. Always do your own research before spending/trading or otherwise any of your hard earned currencies. Thanks for taking the time to read. See you next time: Same Rent Blog; Same Rent Channel!
Information Source: Coinbase
What Happens During BTC Halving?
Every four years, on the halving day, the amount of new Bitcoins created gets cut in half.
Current Bitcoin Price
(Date: 04/17/2024)
Image Source: CoinDesk
Current Hive Token Price
(24 Hour Graph)
Image Source: CoinMarketCap
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