Bittrex - Trading in USD-HIVE pair

in hive-175254 •  2 months ago 

The market has been very flat for the past few days. This is definitely not a great sign for the traders. My friend @sathyasankar told me that it is not wise to just have the funds in the market without doing trading. He also advised me to trade more along with posting articles. I have never had any big luck with trading, to be honest. But I have tried a lot to stay intact with the market and observe the price regularly. Especially for the past one month, I have been observing the price of Steem as well as Hive regularly to look for a good opportunity to trade and reap some profit.

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It is very dangerous to trade when the market is flat. Expert traders would agree with me if I say that only the fluctuating market is good for trading. With a flat market, it is hard to predict the patterns and we cannot be sure in which direction the market would go. From the recent events that happened around Steem and Hive, I also understood that the market always needs a FOMO to keep the price intact. Nobody would have imagined that the price of Hive would touch 1$ and get back to around 40 cents now. But people who are here in this platform for a long period of time would have predicted that for sure.

I didn't take any risk and also I did not have enough liquid hive during that time to trade in the market. If not, I would have definitely sold some of my holdings on Hive when the price hit 1$ or 12000 Satoshi at that time. Today I felt that it is never too late to do some trading. Something made me look at the market continuously from the morning. I was thinking of doing a good trade today or in the coming days. With that in mind, I moved around 300 Hive from my account to the market.

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I was observing the market continuously and placed a sell order at the price of 40 cents. I was observing that there were not strong buying or selling happening in the market. Only a very few transactions were happening in one hour's time. But luckily my 300 Hive was sold off in the market with just 15 remaining. If you check the above screenshot, you can hardly see only 3 or 4 transactions within one hour's time.

Another reason why I wanted to place a sell order today was that I wanted to hold some currency in USD. Something made me feel that the Hive would fall even further creating another opportunity for the investors to purchase some Hive at that point in time. Last time when the price of the hive was nearly 1200 Satoshi, I did not have enough holdings in my hand to purchase some Hive. This time I'm going to be having some liquid USD in hand if the price falls. According to me if the price falls below 2000 Satoshi, that itself is a great opportunity to purchase some Hive for the future.


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Trading is full of excitement, joy, danger, loss, and all the feelings in the world. And when you start mixing trading hive/btc with hive/usd and other pairs, it gets even more interesting. Because, the Hive price might be steady towards USD, but if Bitcoin suddenly moons, then the USD price of Hive will also boom partly with it... or if the price of BTC dives, then the USD price of Hive will most likely dive with it.

So, there are so much to watch out for and pay attention to when trading, but I guess that is what makes it so enjoyable!

Yes in a way USD markets are steady and help in trading. But at the same time, there is not much activity here. When it comes to the BTC market, there is a fluctuation in the price of both BTC as well as Hive so the market goes zig-zag but here the market is steady which is in a way good for observation but not very great for trading frequently.

I love your analysis, it is a good decision you have taken, having your fund in USD will help you make some fast transaction decision.

Yes true. But at the same time, I cannot hold it for a longer period of time as well. I should grab the right opportunity at the right time.

@tipu curate

Upvoted 👌 (Mana: 8/16 - need recharge?)

Thanks for the curation.