At the time of the Stee fork, I was mostly thinking that now is the time to sell. How come? Before the fork, Steem was trading at 1600 Sats and prices around that. So, whenever it touched 2000 Sats or more, I thought it was ideal to sell. And then came the news of the fork, and Steem even touched 8000 Sats.
Then came the fork, and both chains traded at around 3000 Sats. Now, considering how that price was way higher than where it all started, I was all about selling, simply because I expected a dump in both prices (Steem and Hive).
It was interesting to see the price of Hive touch 5000 Sats. That is when many people sold all their steem tokens and converted it to Hive tokens. The price quickly fell back to 3000, and both Steem and Hive have been available at prices around 2600 the last days. And then on Friday, the Steem token was more expensive than the Hive token for the first time since the fork: https://hive.blog/hive-175254/@unbiasedwriter/the-steem-token-price-higher-than-the-hive-token-for-the-first-time-since-the-fork
Big Hive dump today
Until now, the Hive/BTC market on Bittrex has had a volume of 3-5 BTC per today. And then came the big dump today, and the market has had a volume of more than 40 BTC. That means, an 8x increase in volume. But, the volume was not created by sellers, but most likely some giant whales just got rid of lots of Hive tokens. That made the price go down and touch 1300 Sats.
What to think of the dump? Build!
I don't worry about this dump at all. Do you know why? I would like my tokens to be worth as much as possible, but when it comes to investing in the crypto sphere, the most important is to do your own research and to invest in projects you like and have faith in. Do you have faith in Hive? Build! Buy tokens (if you want to), and have faith in what you do!
Do you have faith in Steem? Buy Steem tokens. But do so because you believe, and because you are in it for the long term!
The price of tokens jumps up and down, and that is why you better have faith in what you do. If not, you will be discouraged and lose faith. But, if you have belief in a project long-term, then you will not fear, even though the price may fall, just like what just happened to the price of the Hive token.
Which platform will you use?
That is an important question right now? Will you use this chance to buy Hive tokens? If you sell 1000 Steem tokens now, you can buy more than 1550 Hive tokens for the same price. But, maybe you want to build on the Steem platform instead?
Or do you just keep it all? I am still just waiting and building on both platforms! What are you doing?
No matter what, build, work, and do your own research!
Holy Moly 40 BTC worth hive dump in just a day! This would have to happen!
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