What Is Your Hive Price Target?
The probability of the bear market coming to an end is increasing. Bitcoin and Ethereum have been hovering above their 200-day averages for two months. Moreover, they tested their 200-day simple average last Saturday and recorded a rapid rise. In Bitcoin, the last shelter of the bears, the resistance of 25k, was overcome, but the price could not stay above this level.
The interest rate decision to be taken by the FED on March 21 will be decisive for the continuation of the rally. While there was almost an agreement on a 50 basis point increase in the market last week, different opinions are now being put forward. After three bankruptcies in the USA, no one is talking about 50 basis points. A twenty-five basis points rate hike is the highest probability. On the other hand, Goldman Sachs analysts stated there might not be an interest rate hike, while Nomura analysts said a rate cut could be made. A 25 basis point rate hike accompanied by dovish rhetoric about the future: it is easy to predict that the primary trend will change with a dovish FED rhetoric.
In this context, we come to the subject of how much the price of the Hive can rise in 2023 and 2024. Do you have a price target in mind for the Hive? At what price would you consider selling the Hive? My targets for the next bull market are 5x and 10x. In the bear market, I expanded my Hive portfolio with new purchases. My average cost per Hive is 38 cents. If the prices increase five times compared to my average cost, the Hive price would be 1.90 USD. In that case, I would sell half of my Hive portfolio. If the price reaches 3.80, I will sell half of my remaining Hive. I set the target price levels slightly behind the whole numbers. Because if the price comes to a particular number, it can create selling pressure. The $1 and $2 levels acted as resistance in the previous bull season.
It seems not possible to reach my target levels this year. On the other hand, 1.90 USD and 3.80 USD are achievable targets for 2024. So where do these numbers come from? I guess you've heard of the Bitcoin doubling curve. I created a similar forecasting model for the Hive price. Those who follow my blog may be familiar with this model. Below is the updated version of the model based on the daily Hive price data.
The model contains approximately three years of daily price data. We had a bull and bear season in these three years. In the bull season of 2021, the exponential price increase model gave much more optimistic results. The price drops during the bear market balanced the model's predicted price targets. The model predicts price levels of $1 for year-end 2023 and $1.60 for year-end 2024. If prices stay at the model's predicted levels, I won't sell any Hive until 2025. I'm in no rush. I plan to collect more over time.
During the bull season, the Leo Finance and Splinterlands ecosystems can ensure massive engagements with the Hive network. On the other hand, Ragnarok and PsyberX stand out as play-to-earn games that will support the price of Hive.
What price level can the Hive reach in the next bull market? What could be the most important developments affecting Hive's price?
Thank you in advance for your contribution.
Posted Using LeoFinance Beta
I made a post about this question last month.
https://ecency.com/hive-167922/@borsengelaber/where-could-hive-stand-2025
The method is different, but the results are similar.
Noticed that too. 🙌🏻
I think 1$ hive is obvious and we can see anytime once the market situation recovers and for the long term I expect hive to be worth $5
It is all about user adaptation. My secret goal is 10 dollars.
I am pretty new on Hive, add some small amount every week, power up, put some in games, stakes. Just trying out everything, see what can make some permanent, more or less passive income.
Generally don't like the 'who has more money(Hive)' rules. However, cant do anything with that, but it shows me it won't grow significantly in bull market neither.
I have no idea what else can support Hive price, there are some p2e games, yes, and probably will be more, but within 2 years (even 5) I hardly can imagine, those can effect positively Hive price. As lets be honest, we are in a very bad economical, financial time, and probably it will get worse. So as all these games are about: spend first, maybe you earn some later on, these just simply won't bring many new users in a bad financial time, that's a fact. (And pretty much worth to put money in any, only at the beginning of a project.)
So for me, Hive just something what I can spend some time during the day, nothing serious. Maybe, I'll have some small daily fix income, from stakings. There are dozens of other cryptos what will do much better than Hive in the next bull market.
I don't expect big return on Hive, if I can buy some more under 0.50$, that's great, it will be around 1.00$ sooner or later, within 2 years. But looking at the 'whales', their barfight, divide and conquer mentality, it can easily disappear, too. It's very far from best cryptos, and even if it has the potential with people who I read about/from on the top, it never will grow big, nor the Hive price will make 10-100x return, but other cryptos will.
$ 1.20 - 2.40, HBD
$1 in 2023 and $3 in 2024.
It sounds fair.
My hive price Target for the year is over $1 and in next few years it can be between 3-4$ easily. This is what I expect as per market growth
probably going to $2 in summer, after that we'll see. $10-$20 for 2025
I liked these forecasts. Even thinking 10$ Hive is fun :)