There is a Bad Signal for Hedera (HBAR), Here's the Proof!

Bittime - Hedera (HBAR) appears to have the potential to rebound in 2024, but has recently shown worrying signs. The following is an exploration of the course of the HBAR price in the context of the rupiah and dollar exchange rates, assuming 1 USD = IDR 16,200.

First Surge in HBAR Prices 2019 & 2020

After entering the crypto market in 2019, Hedera experienced a significant surge in 2021. This was the greatest period of success for HBAR, where the price briefly fell after its debut on the exchange, but remained above IDR 150 (approximately $0.01) during the bull season. spring 2020.

As a reference, the price of HBAR reached IDR 450 (around $0.03) at the end of 2020, when Bitcoin started experiencing a bullish surge. 

In early 2021, HBAR soared more than tenfold in a short period of time, reaching IDR 5,400 (approximately $0.36). 

It was a real blast during the first altseason of the year.

Although the price fell to IDR 2,250 (around $0.14) in July, HBAR rebounded during the second altseason, reaching a record high above IDR 8,100 (around $0.50) in mid-September.

Bearish Market and HBAR Price Drop in 2021

However, until November 2021, the price of HBAR remained above IDR 6,000 (around $0.37). When the bear market started between December 2021 and January 2022, prices began to decline. 

By the end of 2021, the price of HBAR had returned to IDR 3,000 (around $0.18), and in March 2022, the price fell below IDR 2,800 (around $0.17).

The Terra/Luna Tragedy and the Altcoin Market

The worst event occurred with the collapse of the Terra/Luna crypto ecosystem in May 2022, which led to the collapse of almost all altcoins. 

The price of HBAR fell below IDR 1,500 (around $0.09) within a month and continued to decline below IDR 600 (around $0.04) in January 2023. 

By then, almost all of the gains from the bull market surge had been lost.

HBAR Recovery After Late 2023 Bull Market Period

With the bull market surging in late 2023, HBAR is experiencing a resurgence. In November, the price of HBAR rose to IDR 1,200 (approximately $0.07), doubling from its bear market low. 

Read also: Latest Hedera (HBAR) Price Prediction, Predicted to Break $3

HBAR Price Movement in 2024

Entering 2024, HBAR managed to return above IDR 1,800 (around $0.11). However, this recovery did not last long, and the price fell below IDR 750 (around $0.05) again.

Also read: Price HBAR to Latest IDR

Is Bullish HBAR in 2023 a Mini-Bubble?

In other terms, the 2023 revival appears to be just a mini-bubble that inflates and then bursts, returning prices to their original point. 

The IDR 600 (approximately $0.04) threshold has been reached in 2020, 2022, 2023, and also in 2024, which is definitely not a good sign.

The Latest Mini-Bubble, After Donald Trump's Winning

With Donald Trump's election victory, it seems that a new mini bubble has formed in the price of HBAR. 

From November 5 to December 7, the price of HBAR rose from just over Rp. 600 (around $0.04) to over Rp. 5,400 (around $0.33), a nearly tenfold growth in less than a month. 

However, in the next few days, prices started to fall again, showing signs of what looked like a new mini-bubble.

Latest HBAR Price Today 23 December 2024

Currently, the price of HBAR is below IDR 4,272 (around $0.25), with the lowest peak near IDR 3,000 (around $0.18). 

Price HBAR to IDR Latest via Market Bittime

It is still unclear whether this mini-bubble explosion will continue or not.

Prediction The Future of HBAR Prices

The current dividing line appears to be IDR 4,500 (around $0.28). If the price remains below that threshold, it seems unlikely that the HBAR bull run can restart. 

If the price remains below IDR 3,600 (around $0.22), there are concerns that the mini-bubble may continue to shrink.

It is worth noting that HBAR price trends tend to rise quickly, but fall slightly more slowly. 

This means that recovery may not happen soon, although there is potential if the entire crypto market bounces back.

Hedera is a speculative cryptocurrency that only performs well during bubbles or mini-bubbles. 

Instead, for the rest of the time, the price always seems to try to get back to IDR 600 (around $0.04). 

Read too HBAR Price Prediction for January 2025, The Value Will Be This Much!

Conclusion

While this is not always an inevitable outcome, caution is warranted because after a big spike in crypto, it is usually followed by a bear market.

In recent days, almost all altcoins have performed poorly, so Bitcoin has an important role to play in reviving the uptrend in the crypto market.

FAQ

1. What is Hedera (HBAR)?

Hedera (HBAR) is a blockchain platform designed to enable fast and cheap transactions. HBAR is the native digital asset of the Hedera network.

2. How does Hedera (HBAR) work?

Hedera uses a unique consensus technology that allows transactions to be processed quickly and securely, making it an attractive choice for decentralized applications.

3. Is Hedera (HBAR) a good investment?

Investment in Hedera (HBAR) has potential, but also involves high risks. It is important to do research and analysis before investing.

4. Why did the price of HBAR go down?

HBAR prices may decrease due to various factors, including unstable market conditions, negative sentiment towards cryptocurrencies, and major events in the crypto ecosystem.

5. What affects the price of HBAR?

HBAR price is influenced by factors such as market demand, technological developments, strategic partnerships, and general trends in the cryptocurrency market.

6. How to buy Hedera (HBAR)?

You can purchase HBAR via Bittime. The process involves account registration, verification, and purchasing HBAR assets by depositing rupiah or with other cryptocurrency assets.

How to Buy Crypto on Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

Reference

Marco Cavicchioli, Signals not good for the crypto of Hedera (HBAR), Accessed December 23, 2024

Author: IN