HBAR, the crypto of the Hedera project, in 2024 seemed like it could be the year of the comeback, but recently it has been showing not good signs.
The first bull run of the crypto Hedera (HBAR)
Having entered the crypto markets in 2019, Hedera’s native cryptocurrency went through the great bull run of 2021.
That has been, so far, the period of greatest splendor for this crypto on the markets.
Its price, to be honest, immediately after debuting on the exchanges, fell, but stopped above $0.01 during the bull of spring 2020.
As a reference point for analyzing the trend of its price, it is useful to consider the $0.03 at the end of 2020, when the last great bull run of Bitcoin had already started, 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 true boom during the first part of the first altseason of that year.
Although in July its price had more than halved, as it had returned to $0.15, it started to rise again during the second altseason, reaching an all-time high in mid-September above $0.57.
The bear-market
Until November 2021, it remained above $0.40, but when between December 2021 and January 2022 the bear-market began, its price started 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 occurred with the implosion of the Terra/Luna crypto ecosystem in May 2022, when there was a collapse of practically all the altcoins.
The price of Hedera’s crypto at that point crashed below $0.10 within a month, then dropped further to below $0.04 in January 2023.
Note that, at that point, it had lost almost all the gains from the bull run.
In other words, the burst of the speculative bubble of 2021 almost brought the value of HBAR back to the pre-bubble level, which moreover was already lower than the initial debut price on the crypto markets.
This situation then persisted until October 2023.
The awakening of the crypto Hedera (HBAR)
With the bull run at the end of 2023, however, the price trend of Hedera’s crypto experienced a revival.
In fact, already in November of last year, it had risen to $0.08, thus doubling from the lows of the bear-market, and with the beginning of 2024, it marked a true rebound that in March managed to bring it back above the $0.13 mark.
That rebound, however, did not last long, and over the following months, the price of HBAR returned to where the climb had started, namely below the 0.05$ mark.
In other terms, even the awakening of 2023 was nothing more than a mini-bubble that inflated and then burst, bringing the price back to where it had come from.
Practically, the fateful threshold of $0.04 was reached in 2020, 2022, 2023, and also in 2024.
This is certainly not a good sign already.
The latest mini-bolla
With the electoral victory of Donald Trump, a new mini-bubble seems to have inflated on the price of Hedera’s crypto.
Although this time there are clear differences compared to last year, the global trend does not seem to be very dissimilar.
From November 5 to December 7, the price of HBAR went from just over $0.04 to more than $0.36, again with a growth of nearly ten times in about a month.
The problem is that in the following days it started to drop again, showing what seem to be the signs of a new mini-bubble.
At this moment, the price of HBAR is below $0.27, with minimum peaks dangerously approaching $0.20.
However, it is still unclear whether the burst of the mini-bubble will continue, or if it has the strength to react.
The near future
At this moment, the dividing line seems to be the 0.30$.
Below that threshold, it indeed seems unlikely that the bull run of HBAR can restart.
In fact, if it should remain even below $0.27, there is the fear that the mini-bubble might simply continue to deflate.
Note that the price trend of Hedera’s crypto tends to rise very quickly, but to fall a bit more slowly, so it might not bull or bear soon.
This means that, in theory, there could also be the conditions for a recovery, provided that the entire crypto market picks up.
That of Hedera is in fact a speculative crypto, which performs well only during bubbles or mini-bubbles, and instead, for the rest of the time, always seems to aim for $0.04. However, it is not necessarily the inevitable outcome of the burst of the latest mini-bubble, but caution is needed because after the great bull runs in crypto, the bear-market always follows.
Furthermore, in recent days almost all altcoins have been performing poorly, so it’s up to Bitcoin to revive the bull run crypto.