A month ago when HIVE was roughly $0.38 and the trend was obviously changing, I penned this thread on @leofinance #threads, highlighting HIVE's price action in comparison to its 2020-2021 bull market. Back then, HIVE was still well under $0.4, but the pattern forming in its price action, similar to late February 2021, was strikingly familiar.
Feel free to check out the thread I linked above and see for yourself where HIVE stood when I noticed this repeating pattern. Since then, HIVE tested $0.48, declined from there as predicted by @chorock, and now it appears to have completed its correction, gearing up to test $0.48 once again and break past that level.
Some might argue that yesterday's spike was merely a Korean pump, and that could be the case. However, it's also worth noting that HIVE's volume has increased across the board, not solely on Korean exchanges.
A few months ago, some of you were anxious about the low volume on Binance and feared HIVE's delisting. Well, I saw that as a bottom signal. I've been through this before and I recognize how a bottoming formation sentiment feels.
HIVE won't be delisted from Binance, and even if it were, it's still listed on several other exchanges, with potentially more to follow. From what I've gathered recently, Leofinance is considering integrating LEO and indirectly HIVE and HBD into the Maya protocol, implying increased adoption.
A couple of days ago, @theycallmedan shared a video on Twitter via the official @3speaktv account, demonstrating how easy it is now to onboard someone onto Hive through the Hive Keychain app. He accomplished this by having someone create a Hive account in less than two minutes, with one of Dan's accounts as a reference (Dan's account paying for the account creation of his friend with HIVE).
Personally, I've bookmarked this tweet because next time I want to onboard someone to Hive, I'll use this method—a method that not only makes Hive a governance token but also a currency. A couple of years ago, I wrote a post in which I argued for Hive's superiority over Bitcoin, and it's probably time for an update on that post.
Let's return to the topic of money (HIVE's price action), shall we?
So, if we examine HIVE's all-time chart and zoom in on the two areas I've circled, you'll notice that HIVE is currently repeating a pattern quite similar to the one in late 2021, which preceded its parabolic rise. HIVE has moved out of accumulation and is now poised to soar.
Once again, some of you have lost confidence in HIVE during the bear market, especially while witnessing various AI coins and memes soaring while HIVE remained stagnant. However, most of the coins I mentioned have already peaked or are nearing it, and the capital invested in them will need to be transitioned elsewhere. HIVE is poised to benefit from the billions exiting AI coins and SOLANA memes.
Some might argue that we couldn't be so close to a parabolic run for HIVE because Bitcoin's halving hasn't even occurred. It's worth noting that BTC has already surpassed its 2021 ATH, and I believe this bull market is being accelerated by its two main drivers: ETFs and the halving. My take is that BTC will peak sometime by the end of 2024 or the beginning of 2025, and HIVE will follow a similar trajectory.
We don't have much time left in this bull market, but that doesn't mean exponential gains are out of the question. I don't expect HIVE to reach $100 anytime soon, but I believe $10 is achievable and will arrive sooner than some of you think.
HIVE is both a governance token and a currency, as @theycallmedan demonstrated in his Twitter video, and despite lacking proper marketing and exposure, this blockchain is still on track to become highly renowned at some point. It deserves that recognition.
For those anxious about HIVE's lack of pumping, bookmark this post and revisit it later in the year. I bet HIVE will have at least 10X'd from here in about half a year. Enjoy the bull market, folks, and don't forget to secure profits for the next bear market. See you all next time.
Thanks for your attention,
Adrian