RentMoney's Hive Price Prediction

over 2 years ago (Edited)

First I will preface this by saying, "I am NOT a financial adviser". In fact I routinely make poor financial decisions. This post is opinion based and in no means should you use it as financial advice. If you do decide to invest remember the golden rule, "Never invest more than you can afford to lose'. With that little tidbit of information out of the way lets get to the meat and potatoes of this post. Today I would like to go over my short term price predictions for the HIVE token and for some of the second lawyer tokens we all come to love and enjoy.

Current HIVE PRICE

Rentmoney's HIVE Price Prediction

As we can see by the screenshots above (From CoinMarketCap) the USD value for Hive has dropped almost 16% from its 24 hour high point. Hives price has soared in valued in a short period of time. Usually when this happens a correction takes place. These corrections happen for many reasons and are healthy for a tokens long term sustainability, one reason being investors taking profits. As the Hive coins price goes up the temptation for early investors to take some profits rises, this creates sell pressure. With that in mind and reasons I will further explain in a moment my short term Hive Price Prediction is, "a further correction".

I know that is not the news you wanted to hear. My reasoning for this is not the profit takers or the weak hands that sell the networks native coin. My reasoning is because of the two amazing airdrops that will conclude on the date of 01/06/2022. We won't go over the specifics of these two airdrops as I already did that in yesterdays post that is titled, Speak Network Snapshot/ Ragnarok Snapshot: Are You Ready. However the mechanics of these two airdrops is designed to pump the price of HIVE. This is because the airdrops are for those who Hold Hive. The more Hive you hold the higher percent of these airdropped tokens/nfts you will be dropped. This has created buying pressure for the HIVE token. Once these snapshots conclude that specific buying pressure will end.

Rentmoney's LEO Price Prediction

For those of you who don't know: LEO is the native token for the Hive frontend known as LeoFinance. The LeoFinance tribe is one of the earliest of tribes created on the Hive Network. Many other Tribes have been created but few have maintained or achieved the success that LeoFinance has. The LEO token can be traded on the LEODEX and Hive-Engine exchanges (Dex's). My prediction for the LEO tokens USD value is an uptick in price. LeoFinance is constantly improving and creating apps that function on the HIVE Network. Everything they do helps bring value to their company's main token LEO. The LeoFinance team is very active with creating /curating content on the HIVE network. There is also a planned airdrop for those holding the LEO token known as CUB. The airdrop will be for a token known as PolyCub. You can read more about that airdrop by clicking the following highlighted link, POLYCUB AIRDROP (LeoFinance).

Rentmoney's SPT Price Prediction

SPT is the native token for the tribe known as Splintertalk. The Splintertalk tribe is the official tribe of the Splinterlands game. Like allot of assets in Splinterlands the current USD value of SPT is propped up by the USD value of SPS. This is because the SPS token is being airdropped to anyone and everyone who holds Splinterlands assets. One such asset is the SPT token. For each SPT token you hold you gain 0.25 airdrop points. The SPS airdrop will run for a total of 365 days (still lots of time to join the fun). Currently we are on day 163/365. You can read more about the SPS airdrop HERE. Within this 365 day window the USD price of SPT will be highly dependent on the USD price of SPS. When SPS sees an uptrend its very likely SPT and other Splinterland assets will follow. When the SPS airdrop ends this will leave SPT without any major usecase and I highly suspect its USD value to go on the downward trend. The only saving grace is if there is a new usecase put in place before the SPS airdrop ends. Luckily all other Splinterland assets have multiple usecases so the SPS airdrop ending won't be as price adjusting to them as it will be to the SPT token.

Other Tribe Token Predictions

The above showcased the three main tokens in which I hold and stake on the Hive Network. There are many other Tribe tokens that I see huge potential in and while I can't go over each and every one of them I can lump the majority of them within this category. My general thoughts on current Successful Tribe tokens are as follows. I suspect we see a small uptick in USD value for the majority of Hive's tribes native tokens. The reason for this goes back to the Ragnarok and 3Speak Networks airdrop. Its very likely that allot of people traded their second layer Hive Tokens (Tribe tokens) for the main Hive token to increase their Hive holdings for airdrop rewards. These snapshots will end today and I suspect at least a small percentage of those who traded their favorite Tribe token for Hive will reverse that action in the upcoming days thus the potential that the majority of Hive's Tribe tokens will see an uptick in USD price.