One of my favorite projects and investments lately has been Hedera Hashgraph. With more big companies joining in and running Hedera nodes on the network (i.e. Standard Bank Group, Électricité de France, Eftpos) you’ll see transactions spike. I predicted this weeks ago when the announcements were made, and we now had a run from roughly $0.15 to over $0.40 as a result since the mainnet update adding these nodes. Transaction volume yesterday reached an all-time high at almost $2B in 24 hours. That’s crazy for a smaller cap project.
Also seeing projects migrate from Ethereum to Hedera (such as SUKU) show a real possibility for HBAR to overtake part of Ethereum’s market share, which is only propped up as a result of the NFT craze. Hedera has been severely underrated for years and I believe it’s taking the lime light, finally.
Looking at the chart, one thing to note is the parabolic change in its growth pattern. The lows are not just getting higher… they are exponentially higher! This could be a sign of a massive breakout and revaluation, which is something I always look for at a smaller level when swing trading crypto.
You should at least put HBAR on your watchlist because it’s a good learning opportunity for understanding exponential price action in a mid-cap crypto. Don’t focus on the indicators when they are broken completely. Focus on the trending pattern and go with the flow in situations like this.
So here are my thoughts. 👇👇👇
Hedera Hashgraph is going to keep growing their adoption and playing the role as an alternative to blockchain tech. With their incredible backing and solid tech, there is no reason that HBAR would stay under $1 in my mind. I think it’s feasible in the next couple months, and over $2 is not out of the question by end of year on current trajectory. I never bet against network growth and solid fundamentals, and they have both!
My only concern is a market pullback because of the price action. There seems to be a solid growth pattern, but if it runs too fast, the “Buy Wall” could fall apart and HBAR could tank, temporarily. Potentially as low as 50%. But I don’t think this is likely in the next few weeks as the market pattern is incredibly strong and they have a ton of positive news beginning to circulate.