HBAR, the Hedera project’s cryptocurrency, looked like 2024 could be the comeback year, but it hasn’t shown good signs lately.
The first bull run of the Hedera cryptocurrency (HBAR)
Having entered the crypto markets in 2019, Hedera’s native cryptocurrency went through the big bull run of 2021.
That has been, until now, the period of greatest splendor of this crypto in the markets.
Its price, to be honest, immediately after its debut on the exchanges fell, but stopped above $0.01 during the spring 2020 bull market.
As a reference point to analyze its price trend, it is worth considering the $0.03 at the end of 2020, when the last great bull run of Bitcoin had already begun, but not yet that of HBAR.
At the beginning of 2021, in just two and a half months, it multiplied its value by more than ten times, reaching $0.36. It was a real boom during the first part of the first altseason of that year.
Although its price had more than halved in July, returning to $0.15, it began to rise again during the second alternate season, reaching an all-time high in mid-September above $0.57. .
The bear market
Until November 2021, it remained above $0.40, but when the bear market began between December 2021 and January 2022, its price began to plummet.
Already at the end of 2021 it had returned to $0.21, while in March 2022 it also fell below $0.2.
The biggest problem came with the implosion of the Terra/Luna crypto ecosystem in May 2022, when virtually all altcoins crashed.
The price of Hedera cryptocurrency at that time fell below $0.10 within a month, then fell further to below $0.04 in January 2023.
Keep in mind that, at that point, it had lost almost all of its bull market gains.
In other words, the bursting of the 2021 speculative bubble almost returned the value of HBAR to the pre-bubble level, which was also already lower than the initial debut price in the crypto markets.
This situation persisted until October 2023.
The awakening of the crypto Hedera (HBAR)
However, with the late 2023 bull run, the Hedera cryptocurrency price trend saw a resurgence.
In fact, in November of last year it had already risen to 0.08 dollars, thus doubling from the lows of the bear market, and with the beginning of 2024 it marked a real rebound that in March managed to place it again above 0.13 dollars. brand.
However, that rally did not last long and, in the following months, the price of HBAR returned to the point where the rise had started, that is, below the $0.05 mark.
In other terms, even the 2023 awakening was nothing more than a mini-bubble that inflated and then burst, returning the price to the level from which it had come.
In practice, the fateful threshold of $0.04 was reached in 2020, 2022, 2023 and also in 2024.
This is certainly no longer a good sign.
The last mini bubble
With Donald Trump’s election victory, a new mini-bubble appears to have inflated the price of the Hedera cryptocurrency.
Although this time there are clear differences compared to last year, the global trend does not seem very dissimilar.
From November 5 to December 7, the price of HBAR went from just over $0.04 to over $0.36, again a nearly tenfold growth in about a month.
The problem is that in the following days it began to drop again, showing what appear to be the symptoms of a new mini-bubble.
Right now, HBAR price is below $0.27, with peak lows dangerously close to $0.20.
However, it is still unclear whether the mini-bubble burst will continue or whether it has the strength to react.
The near future
Right now, the dividing line appears to be $0.30.
Below that threshold, it seems unlikely that HBAR’s uptrend can restart.
In fact, if it remains even below $0.27, there are fears that the mini-bubble will simply continue to deflate.
Note that the Hedera cryptocurrency price trend tends to rise very quickly, but fall a little more slowly, so it may not go up or down anytime soon.
This means that, in theory, the conditions for a recovery could also be in place, provided the entire crypto market recovers.
Hedera is, in fact, a speculative cryptocurrency, which works well only during bubbles or mini-bubbles and, instead, during the rest of the time, it always seems to aim for $0.04. However, it is not necessarily the inevitable result of the latest mini-bubble bursting, but caution is needed because after big cryptocurrency bull runs, bear market always follows.
Furthermore, almost all altcoins have been performing poorly in recent days, so it is up to Bitcoin to revive the bullish cryptocurrency.
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