Hive above $0.3 and BTC touching $21,000 resistance
Online illustrations by Storyset
According to analysts, on the daily HODL, $21,000 is supposed to be a resistance created by the FTX crash, and BTC was able to touch it yesterday.
With all the bad news I've been receiving and distributing, this has been the biggest relief of all time. I hope there will be more to come, but so far, watching Hive struggle to stay above $3 has been the scariest thing to watch. On CoinGecko, when I checked, the value was fluctuating right in front of me.
With my own eyes, I can see that $0.3 was a pivotal moment, but I didn't have my eyes on BTC. Most of what I own is on Hive, so I could tell something beautiful was happening yesterday.
I know it's too optimistic to hope that this will be the last of the lower lows we've been seeing because of Sam Bankman-Freid's behavior, but I really hope it will. Yesterday, BTC went up by 11% and Hive made about the same rise. Today, Hive is up by 6.8% while BTC is up by 10.8%.
The rise of BTC has affected the whole market, and even though everyone hopes to see the day when their favorite altcoin won't follow the number one, they all clearly do. Ethereum is another favorite of the Hiveless masses, and it was seen to make a 6% rise yesterday and 9.9% today.
The Hive market on CoinGecko seems to share my optimism, with 81% of people voting that they are optimistic about the market.
While the crypto market still recovers from what is being called the biggest financial fraud in US history, it's important to note that anything can happen. Coinbase has been acting very weird lately, and I won't be surprised if we hear in the near future that they are falling down too. I hope we've collected our profits to reinvest by then and hopefully, we won't be victims like last time.
What are your thoughts on all this? Do you think much has changed with the price of BTC and Hive? Are you selling or waiting for the market to rise a little more?
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The crypto market is recovering that is the truth and that is a nice thing to have taken place, the trends of all digital asset is reinstalling hope in the minds of those who play doubts.
Yeah, very true...It has been a tough season for everyone, I hope we can smile a little.
We will smile, nothing last forever.
Thanks for sharing your thoughts on the recent price developments, and appropriately connecting them to the FTX scandal, which had a large impact on not only the cryptocurrency market, but the market in general. 😊
Personally, I'm still in this for the long haul. I don't have the practical experience to try to ride out big and small waves and earn profits in that manner. Many have tried, and few have succeeded because of the large amount of variables, as well as turns of luck. Thus, it'll be a while before I think of selling any portion of my holdings. Even then, I'll likely hold on to a decent amount, because I see a future in cryptocurrency and its underlying blockchain technology.
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It has been rough...I am glad we can smile a little and look back but we are still not where we need to be. Thanks for stopping by,
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