Juggling Steem and Hive during times of Steem Upheaval
It's really exciting to see the price of Steem stay afloat for this long despite all the exodus'ing of its die-hard community.
The pairs against BTC have been suffering for a long time now but in terms of dollar value Steem's price has managed to withstand not only all the upheaval and uproar around the recent #hardfork23 and the "hostile takeover of Steem" but has also held up during the disabling of the gateways on some major exchanges. CURIOUS but kinda expected!
Question is will it tank on Binance and the others once the gateways get reinstated and if so - when will it happen? And how long will that tanking last? I predict: Until everyone has sold out who wants out, and it will come back to higher highs again.
A major candidate for the re-enabling of the gateways would be 4 weeks after the recent hardfork23 in which case it might still be possible in the short-term for Steem's price to pump as liquidity is limited due to the disabled gateways.
Ionomy is still following the major exchanges' prices closely (apart from some major discrepancies on major dump days), and there are people who are buying now. Not everyone is selling, despite all the fundamental hints to the opposite.
In the end it will all depend on the general state of the alt market, and whether BTC dominance will come down again for a second bull market in alts - god knows both Steem and Hive would be major beneficiaries of it. Steem because there likely exists a major marketing campaign for it to be rolled out, and Hive because it is a genuine blockchain project actually solving various accute problems for people TODAY.
As for Hive, the price has slowly approached that of Steem, despite the spiritual and technological advantages it carries. It's a hint to what I had written a few weeks back: It's not necessarily the better project that will come out a winner in terms of monetary value but the project that is backed by the people with serious marketing and financial firepower.
For this reason I have opted to swap a part of my SP for BTC but will likely keep the rest for the potential day when Steem will be made bigger than it ever has been. Steem's price that is still holding up despite all the FUD and rightly critical coverage of what has been going on could be a major signpost that Steem's story is far from over and that some people are using the upheaval to: Accumulate. When everyone wants out. Reeks like a big trade to me.
If they want to make it part of the gang's influence in crypto for the nearing system reset I'd be happy to still carry most of my SP into that Boom. If however Steem in fact goes down never to recover I feel it's a risk worth taking for me.
And it would be all the better because Steem's demise would give Hive a major leg up and would send a strong signal into the crypto world at large; a sign as to what can happen when control structures try to invade and steer a ship once designed to be led by the community. And the community comes out a winner.
In both cases I'd feel pretty stoked about how things turned out even though I really do want Hive to become successful.
Let's see how long Steem stays afloat, make use of its potential spikes and then have a plan for when thee floodgates open and you want to play the major market moves that are incoming.
Speaking of Hive: I do not see myself selling any of it any time soon. It's just too real and awesome to dabble with trades near all time lows for me, risking I can never get the Hive back I sold at these levels.