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RE: STEEM vs HIVE price performance (and what it means)

in Project HOPE5 years ago

Dear @phgnomo

Thanks for sharing your thoughts on this particular topic. Obviously, I'm very interested what people who are part of project.hope think.

I'm also quite tired of all this fighting that has been taking place lately.

i think it is a good measure of how the fork is being seen by the markets.

Markets? I seriously doubt that markets are reacting in any way to those forks. My belief is that majority of current volumes are created by either Justin, witnesses or some whales.

The fact that price of HIVE went up so much isn't much of a surprise. After all it doesn't take much to pump price of this token up and as long as many powerful users will be powering down their STEEM and trading to HIVE - we will see demand overpowering supply.

Will that last long? Will it continue once most of those users complete their power down? I hardly doubt so.

So, in theory, the markets are thinking that HIVE is 62,58% more valuable than STEEM.

Current price is nothing but manipulation and creating demand, which is based on dumping STEEM. It doesn't reflect any real strength and it cannot last forever.

enjoy your weekend,
Yours, Piotr

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