There is no floor under HIVE

in #hive4 years ago (edited)

HIVE is on sale! In fact, it has NEVER been cheaper to buy than it is RIGHT NOW! It just touched a low seen only briefly once at the start of the currency in April - about ten cents. And priced in BTC, it continues to fall to new all-time lows, with no end in sight:

The red line is a simplification of the long term logarithmic HIVE price, going back to the start in March. Other than the brief blip caused by a large exchange's contest, the price has done nothing but fall.

It is now - once again, and still - the best time in history to buy HIVE. Anyone who bought (or earned) HIVE before today would have been better off waiting.

Reminder

When people discuss the price, and the above fact comes up (ie: that it has never been cheaper than it is right now), many people respond with "this is a great time to buy because at some point, the price will recover, and those who bought or held will be VERY happy!"

This is a common sentiment, but it isn't backed up by facts. It's an emotional statement, created from thin air, and repeated often until it seems to have validity. But it doesn't.

There's NO guarantee that the price of HIVE (or STEEM) will ever significantly recover. It doesn't have to. That was an assumption that eventually became legend, but it's simply not real.

HIVE (STEEM before the fork) has lost 90% per year, every year, since I went all-in at the start of 2018. People say "it can't go to zero!" and even if that were true, that doesn't mean it can't lose 90%, every year, forever.

Forever.

Because, remember, this currency isn't measured in dollars and divided into 100 copper pennies.

It's measured in digital units that are divided into millions of subunits. The decimal place can always be moved, and another zero can always be added.

"This community is full of great people! Many apps have been developed!"

Wonderful, but that doesn't mean the currency will appreciate in value. The community has been full of great people, and many apps have been developed, since the very beginning. That isn't all it takes.

HIVE can (and likely soon will) fall below this 0.1 USD mark. In time it may fall below the 0.01 USD mark, and so on.

The adage "it has to turn around and go up at SOME point!" is not true. It may turn around, but NOTHING says it has to.

There is no floor.

DRutter

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