RE:RE:RE:RE:Market is normalizing on HIVE pricingHIVE and other crypto miners have been definetly tracking BTC in the last few trading sessions. It did not track it last year, because it was mostly trading on hype. It will track cryptos unti earnings release or some other news.
GROW is tracking HIVE for the portion that investes in crypto miners. GROW is down 2.5% and HIVE is down 10%. HIVE is a very small part of GROW, fund has many other investments that have been doing well lately.
bullybot wrote: goldbc wrote: KR1527 wrote: How do you figure that? Ethereum price goes up this stays flat or goes down ... just saying
HIVE was certainly decoupled from ETH price a few weeks ago.
I'd say price of BTC is much more important since it is >33% of the cryptocurrency market.
So looking at 4PM (market closing prices since mid February)
| date | btc | HIVE |
| | | |
| 2/20 | 11,733 | 2.23 |
| 2/19 | 11,172 | |
| 2/16 | 10,062 | 2.05 |
| 2/15 | 9,895 | 2.08 |
| 2/14 | 9,260 | 1.89 |
Tracking is far from perfect but there is a somewhat up/down movement tracking in the recent past.
Sure look further back and its all out of whack. But I believe that is due to the fact that we have very little hard fundament information on HIVE production -which coins, held, sold, etc plus plans for the next quarter. If we get that level of detail then expect better HIVE / BTC tracking (doesn't matter that HIVE has yet to mine BTC -- just look at https://www.hashchain.ca/ or your favorite page with multiple coin prices and you'll see they most wiggle together on until there is a news event like the NEM $500M heist in Japan.
Were in no way tracking Bitcoin, you might as well say were tracking Atari. Bitcoin December the 17th - 19k, Hive December the 17th - 3.44.
Atari down today, were down today, Atari up yesterday, Hive up yesterday.
If anything were tracking GROW which also makes no sense as there just a shareholder.