It's Starting To Look A Bit Better
The first half of the year has already been over for a few weeks, and at the beginning of the second half of 2024, things did not look very favorable for the crypto market at all. Activity in Discord, among other things, fell to new lows, just as crypto itself saw new lows that we thought we had left behind in the first half of the year. But the positive news this week is that Bitcoin has managed to climb back up to a level of around 62K USD. And according to reports, this could go up even further as a short squeeze can now be expected. If this short squeeze occurs, it could push the Bitcoin price up even further, and an additional positive message is that Glassnode also expects a new alt season to be around the corner.
First See And Then Believe
Now I have to admit that these are messages that make me a little more enthusiastic, but at the same time I still very much live with the idea of "First see and then believe". I think this year has been strange for crypto in general. So far it's very different from what I thought beforehand. It's not that I expected great heights and great wealth, not at all. But even my modest expectations have not been met so far. And well, that has a lot to do with Hive. I don't have many crypto assets. I have never had the financial space (and don't yet) to invest. So perhaps my frame of reference is not the right frame of reference to compare the entire market. But for me it is the only frame of reference I have. I can follow the news, which I do regularly. And if the news that Bitcoin is doing well makes me happy and then I see almost all coins in the green on Coinmarketcap, is it strange that my joy is dampened a bit when I see that Hive again does not follow Bitcoin?
93,6% below All-Time high
Seriously folks, consider this if you're happy with a little uptick from Hive where we managed to climb from 20 cents to 21 cents. Bitcoin is currently trading 14.6% below its all-time high. And Hive? Hive is currently trading 93.6% below its all-time high. And yes, I know, a lot is possible in crypto. Coins can suddenly rally overnight and be pushed to new heights. I will also honestly admit that Hive is not the only coin trading so far below its all-time high right now. Take for example a coin like Mana from Decentraland, which is currently trading almost 95% below its all-time high. But the difference is that this Mana still manages to remain in the top 100 regarding market cap ranking. Hive is a much smaller coin, which can be found much lower on the ranking list. To be precise, Hive is at position 329 in the market cap ranking list.
I Love Hive
Don't get me wrong. I love Hive. I really do! And YES, I do see what Hive has to offer, and that's a lot! And it is precisely that part that makes me hope that more people can and want to see the unique value of Hive. Who knows, maybe I'll be pleasantly surprised soon...I'll keep my hopes up. After all, it is not without reason that the well-known proverb "Hope gives life" exists. What do you think?
We'll talk again after my holiday! Until August 5th!
