>The golden cross occurs when a short-term moving average crosses over a major long-term moving average to the upside and is interpreted by analysts and traders as signaling a definitive upward turn in a market.
If you sold the last death cross at 42 cents you got out cheap as the price tumbled to 17 cents. Now the reversed Golden Cross is upon us, what treasures await us in the weeks to come?
Normally I don't do price speculation on Hive, but this network has been so embarrassingly oversold for such a long time that it's hard not to light a little spark of hope for another one of those crazy x10's we sometimes receive.
An x10 from these lows is around $1.70-$2.00.
I'm guessing there's a ton of unit-bias resistance in the $1.70-$2.00 area because our previous all time high is officially ~$1 (not counting our token history on Steem). Personally, I've always thought fair market value for Hive is at least 80 cents, and hopefully we can forge a new support at that higher level this time around.
This is how high I set the bar.
Seeing Hive in the rank #250 range by market cap has been an insult for quite some time now. Every once and a while I look at the top 100 and wonder how it's even possible that we are so behind other nothing tokens. ERC-20 Wrapped Bitcoin (WBTC) is #16 MC. Insane liquidity is piling up around us. Only a matter of time before it makes its way to our chain. The key to taming liquidity is DEFI/AMM.
Our community has been through quite a bit over the last 4 years and we trade out of shear fear of another deadly crypto winter. That attitude will not serve us super well during a mega bull run. However, a reversal in luck has already been hoped for a dozen times over, and we don't have much more faith to give. People want to see results without having to give much more to Hive at this point. I think we'll see those days come to fruition quite soon.
Of course in retrospect it will have been nothing but a lucky buying opportunity after we've become wealthy. The rabble won't remember what it took to get there, only that a few legends defended Hive at 10 cents multiple times and ended up being rich AF a decade later.
An economy is a fluid thing within time, full of historic moments. To focus only on particular aspects would be a mistake. After all, we are trying to change the world over here.
Easy come, easy go.
If a mega-bubble really does materialize at the end of the year, lets be honest: most people who have never seen that much money in their entire lives are going to get drunk with power. What will they do with their newfound wealth?
- Some will buy status symbols (expensive house/car)/Lambo.
- Some will HODL it.
- Many will gamble on shiny new things (pump microcaps like CUB/LEO/HIVE and dozens of defi tokens).
What we actually should be doing with it is preserving that wealth so we can buy what may be one of the most historic dips in living memory, come 2022. It's not like the economy is doing fantastic right now. Bubble will pop eventually.
This slow moving train wreck of the legacy economy always gets derailed at some point or another. It's scaled to as big as it's going to get, and it will get no larger. Crypto on the other hand has limitless possibilities ahead.
Bandwidth allocations
Hive is unique from many chains in that the only way to get on-chain bandwidth is to lock stake, which also hosts even better abilities like upvoting and governance votes. When supply shocks hit, they hit hard. Bandwidth, yield, and governance are all tied to Hive Power VESTS. A high demand to use this chain, have a say in governance, or to increase upvote power could all moon the Hive token separately. A supply shock of all three at the same time will be quite the thing.
Conclusion
Looks like the Golden Cross will get here within one week based on current trajectories. Will be interesting to see if anything comes from that bullish technical. Personally I'm still holding out for another big pump, and I appraise the fair market value of Hive around 80 cents. We are so ridiculously oversold right now; have been from the start of this fork.
Again, my next entry-level selling targets are right before $2 Hive, and I'm sure I'll be selling very little compared to my overall stack. I still think Hive has an x100 left, if the end of the year truly does turn out to be a mega-bubble hype cycle. The reason Hive crashes so badly is the same reason it can moon x100. Prepare for abundance. Volatility breeds volatility.
I hope Bitcoin crashes to $4200.
--- @edicted May 8th, 2019
lol
Posted Using LeoFinance Beta
Return from Binance Hive/USDT Golden Cross Incoming to edicted's Web3 Blog
