A few days back there was a huge fall in the price of Hive after some of the big stakeholders decided to dump their hive tokens. We were able to understand that it was a huge dumping activity and also organized dumping but it was hard to track how and why the dumping happened. This particular activity brought the price of Hive to around 1500 to 1200 Satoshi. I even used that opportunity to trade some Hive tokens by purchasing Hive for 1550 Satoshi. I’m not sure if that was a good price to buy or not but I didn’t want to lose the opportunity.
After that huge fall, the price of the Hive is fluctuating from 1200 to 1700 Satoshi. Some people also thought that it would surge above 2000 creating a good selling opportunity again for people who bought it when the price was 1200. But from the looks of it, the price of the Hive is looking stable for the past few days after this huge fall. I don’t see it pumping as well as getting low either.
But when this dumping was happening, I was thinking that many people would use this as an opportunity to sell their Steem for a higher price and purchase Hive for cheap rates. But it did not happen overnight. I myself bought some Hive tokens when the price was 3000 Satoshi and sold Steem when the price was 2300 Satoshi. If I compare with the current price, I guess I did not make a good move in selling and buying Hive at that point in time. But now the price of Hive is very low and is also very attractive creating an opportunity to purchase and accumulate Hive tokens.
I’m not going to talk about the future of Steem or future of Hive as it is unpredictable right now, but from the trading perspective, I currently see this as a good opportunity to sell the Steem tokens and purchase Hive for them. Absolutely this is only for traders and not investors. We will not know in which direction this will be taken but I’m sure this is how it is for any type of trading. A good fluctuation or good up and down is always good in a market for the best trading experience.
If you look at the above image, you will be able to see that the price of steem is gradually dipping. Unlike Hive, it did not see a dip overnight but it looks like the price of Steem is also continuously dropping. It is also said that the price will go up again after Justin decides to do some heavy purchases from the market to stabilize the price of Steem. But for now, we don’t know if that will happen or not. It is better to make wise decisions before doing any type of investment. I’m just sharing my own perspectives and not doing any financial advice. I would recommend doing your own research before investing in something.
