Crypto markets are looking good right now, and some of the cryptocurrencies including Bitcoin is having a decent pump. It is expected that it might bring another altcoin season soon. We had the same belief last time when the price of BTC reached a big height and started going down. It is usually a belief that when the price of BTC hits a new all-time high, it will start going down. When it goes down, the alt season starts because people exit from BTC and try to do some investments in altcoins.
I'm not sure if the same strategy would also apply now, because since the last pump, the market is unpredictable, and people are hardly doing any trading with proper prediction. Some coins are just being pumped and dumped right now, and there is no proper calculation as to how the price would move. I see many people are positive right now and have started investing by making use of the opportunity. Even if the price of alt coins are not going up immediately, somehow there should be a small long term benefit in holding alt coins if the market does better.
Hive is a good altcoin
One of the biggest advantages of Hive is that we get the opportunity to earn if the price of the coin goes high. We can invest when the price is low and then reap a profit when the price goes high. This is the regular trading. But apart from that, we will be able to get a decent APR for the Hive that we are holding. On Binance, there is a liquid staking provision where our Hive can earn a decent APR. If we are lucky, it can even earn up to 20 percent APR on Binance.
There are also opportunities to trade in the internal market. People can swap their Hive for HBD in the market, and when they see a profit opportunity, it can be swapped back. Many people do this by swinging trades based on the market movements. The strategy should be something like we are okay to book profits at any price, so we have no regrets in selling. If we are buying, we should be happy to buy because the price can go up at any time, and we can hold it for a longer period and sell that later.
For those who know the Hive ecosystem, people know that there will be a pump and an opportunity to book profits. Among all other alt coins available, I prefer trading on Hive because it is a well-known ground, and if we buy, we can hold, and if we sell, we just book profits. That's all.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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Posted Using INLEO
