Pulled the Trigger!

LeoFinance
11 days ago
5 Min Read
1088 Words

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@belemo

https://peakd.com/hive-167922/@edicted/re-belemo-6n3ta8

This comment aged well...

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So yeah I was fully expecting to wake up this morning and talk about my 'little' acquisition with the intent of being able to tell people now's the time to bet against me. The ship has sailed on that front.

https://peakd.com/hive-167922/@edicted/unit-bias-market

The Golden Cross is still in play and our moving averages are fanned out spectacularly. The 7-day moving average is still acting as support, so if we crash back to that level... currently around 22 or 23 cents, I may pull the trigger.

We can see that the 7-day moving average for Hive/USDT is still acting as support even after essentially spiking x2 and crashing back down to it. Such bull, much wow.

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Yesterday I was talking about how I might pull the trigger on Hive if we were to flash-crash down to the 7 day moving average support. This literally happened like an hour after I posted, so I scrambled to pull that trigger.

It was a pretty surreal experience, because everyone has been flipping out about $50k Bitcoin. So when the price "crashed" from $49k to $46k, everyone started freaking out. At the same time Hive crashed from like 27 cents to 21 cents (22% loss).

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AHHHHHH!!!!

You know what else I saw? A 6% drop in BTC (lol who cares) but the volume literally doubled instantly. So bullish. The bears were testing the market to see if we had support, and we did; it was time to pull the trigger on Hive.

63k Hive

This is the most Hive I have ever acquired at once. To wake up the next day and see that it went +50% overnight is pretty wild to say the least. Again, when I got here 3 years ago, I never even thought I'd be a dolphin, and now I'm almost half way to a whale. Crazy stuff.

How long until I feel completely priced out of the market? Probably like 50 cents. If we get higher than 80 cents it will be very hard to justify buying more Hive. This is why I wanted to pull the trigger early. To make sure my bags were full before I felt priced out of the market.

Because with Bitcoin I feel like I can buy in at almost any price. Bitcoin is the anchor of this ship. It is much safer than the rest. It's much harder to get priced out of Bitcoin than it is to get priced out of my main-squeeze coins.

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Speaking of squeezes, anyone who was shorting Hive on Binance just got WRECKED. Justin Sun has been doing nothing lately except make bad financial decisions, so lets assume he was massively shorting Hive and a lot of his collateral just got liquidated. We're gonna get you one day, scammer! Pin you right to the wall! Mark my words.

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I am a little annoyed I didn't cash out my LEO blogging rewards into Hive when I wanted to at the 4:1 ratio. That same ratio has dipped down to 2:1. However I have been feeling slight pressure to hold onto my LEO for various reasons.

Obviously, the upcoming airdrop is a big deal. We are still calling the damn thing "project blank" for God's sake. Once more details come along we should be able to generate some more hype. The cryptosphere loves airdrops to the point of pumping coins much higher than they actually should from a financial perspective.

The main reason I haven't sold my blogging rewards (currently 2000 LEO) is because I feel like I was a bit called out on the month of January.

https://leofinance.io/@leofinance/the-best-way-to-earn-crypto-in-2021-or-january-author-reward-leaderboard

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So yeah it looks like during January that greedy goblin @edicted sucked down all the rewards for the month. Anyone who was paying attention could see that I pretty much dumped all of those rewards for Hive. Something like 2450 LEO for 8800 Hive. I stand by that play, but I would have felt weird dumping another 2k LEO after seeing I was the highest rewarded author by a huge margin in January.

It's time to HODL on all fronts.

Project Blank will be announced pretty soon, and the snapshot will be shortly after that (1-2 weeks). We'll also have a @threespeak airdrop for Hive holders one of these months down the road. Again, people love airdrops, and you have to get in early BEFORE the price spikes.

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Upvote power

Last night my huge powerup boosted my upvote to around $3.50 if we ignore the convergent curve. Should the price of Hive stabilize at this level over the next 3.5 days (or go higher) that will increase to a $5 upvote. It's pretty wild to think that I control $50 a day of inflation on Hive alone (not even counting LEO). If the market continues to move up my blog will be worth significantly more than my day-job at Amazon.

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On that note, it's also important to note that HBD is currently trading at $1.50. Considering the peg at $1 and the ability to get paid out half our rewards in HBD, this increases the value of net blogging rewards by 25%, and it increases the dev fund by the full 50%. Good stuff.

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Black Swan Event

Is a devastating Q1 Black Swan Event still on the table? Of course it is. My roommates are watching John Oliver right now, and they are already talking about the "next Pandemic" and creating more fear porn as we speak. Multiple aggressive variants are out there, and the talk about infinite vaccinations seems to be never-ending.

However, corporations (and more importantly Big Tech) seem to be on the verge of going all in on Bitcoin. Again, worst case scenario: BTC to $20k and Hive to 10 cents. At this point I'm not too worried about these outcomes even if they do happen.

Conclusion

I have always been a diehard zealot of this network, and I proved that again yesterday by powering up more than an Orca's worth of stake in a single bound. Feels nice to win one for once.

For the last three years I've been talking about 2021 and how it's the mega bubble year. All we have to do is keep our hands strong and hold to the end of the year. Now is not the time to get cold feet. Even a Black Swan event can't stand in our way. HODL!

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