There is a heavy positive vibration after seeing the price of Hive. We don't know what exactly the reason is for the Hive pump, but we know for a fact that this pump is not going to stop. It might continue until it reaches $1 or maybe even the past all-time high value. This also creates a fear that there can be heavy selling pressure, too. People might sell their Hive, but it can be matched if there are more people who want to enter the Hive Ecosystem.
I heard that people are playing a pump-and-dump game with Hive, and that's the primary reason why we see the increase in price and this trend happening. Whatever it is, it is definitely a good thing for Hive as long as the price keeps increasing. Now comes the power-down part.
It is very tempting to hit the power down button to book some profits. In some of my previous articles, I did mention that I might sell some of my Hive holdings when the price hits 50 cents, 75 cents, and 1 dollar. Now that the price of Hive has hit 50 cents, I'm tempted to sell some of my Hive and maybe buy it back if the price goes back to 20 cents again. I have seen this cycle happening several times for several years.
Many people have already hit their power-down button. It also includes me. I have started powering down from my @balaz account and I would like to take this opportunity to book some profits. The Hive from power down will reach me in a couple of days. I'm thinking of selling some at 60 cents and anything above that. I want to do this because I purchased a lot of Hive when the price was low. I have to consider this as profit booking for those trades. I bought Hive when it was low and was waiting to sell them at a higher price but it never happened so I powered it up on my primary account.
I will not be powering down all my Hive power. I will continue to hold them even if the price hits over 1 dollar. The reason is that even though I have some commitments in the real world, I still have a decent full-time job that can cover my expenses. I don't have an immediate necessity to cash out all my Hive. I'm considering this as a long-term investment and that has worked out well. But they say that trading is also important to fight inflation. If we don't get a decent return from our money, then inflation will beat us and we might end up in a loss.
Even though I say all these things, one part of my mind still says that I should be booking my profits. Reason being my mind wanted me to do that when the price was low but after the price improved my mind wanted more. I have made up my mind. If the price hits 5 dollars then maybe I will be tempted to drain out all my holdings and convert it to USDT or a proper stable coin that can give me some passive income. If HBD in savings is still a thing, maybe that too.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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