The current crypto market and what it means for Hive

in LeoFinance2 months ago

The whole crypto market is in turmoil in reaction to the recent attack on Luna/UST to make an already red market even redder. While it may look like the whole world is coming to an end to some, some are smiling sheepishly with their bags filled. If you do not understand this, just know that someone's loss is another person's gain.

A few days ago, I was having a chat via discord about crypto prices and told a fellow Hiver that I wish the price could go even lower. It sounded crazy but I mean it even though I know what it means for me in the short term. My income mostly comes from blogging on Hive and lower prices mean austerity in real life. I will take a temporary austerity for a better future. What do I mean?

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Image source: fxleader

When prices are low, enthusiasm to blog generally wanes and the reward pool is shared among a few blogging authors. Thus, one tends to get more Hive in the form of Hive power during low prices. When prices eventually pick up, the accumulated Hive power becomes an asset.

In addition, low prices mean you get more hive by investing just a little fiat. Imagine being able to get up to 500 Hive with just a $100? Yea, it used to be this way or even worse and from the look of things, those old ugly days might be creeping back. I am not trying to predict doom, it is just what the market says.

In order to maximize this current market for future profit, the ideal thing would be to keep writing and powering up all rewards by choosing the 100% power-up option before posting and buying up hive using fiat at discounted averages. If one cannot do the two for some reason, at least, one would still be fine. Will I be able to do the two? I really do not know.

The bottom line is, that the market is positioning for the next set of crypto-rich folks. If you are among those that lost a huge chunk of your portfolio to this whole Lunatic attack, my prayers are with you, and feel free to reach out if you ever need someone to rant to. I may not be able to offer any financial reprieve, but my listening ears will always be there.

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That is true for sure. It's a great opportunity for those who stick around and keep building up their holdings

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Indeed. This is what experience has taught us.

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Thank you. So compact and informative post.
I enjoyed reading your post.
It's true that one person's loss is another person's gain on this trip the game.
One has to find ways to either buy hive or make more posts.
..no financial advise

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You got the drill. Only those who know this game will survive

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That's is true and thus when you have some cash, it is the opportunity like these makes us to finish our goal early.

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Having spare cash will come in really handy in this period, no doubt.

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You are actually correct on this... infact the Best time to even write is now.

Studying the market closely to bag more hive with hbd.

People should always think Long term with crypto and not Short.

Well said. I hope people, Nigerians especially, stick around in this market.

Nice one.

I have been wondering what should be doing in these recent times of absurdity in the market. Now I know better.

Thank you for sharing.

Don't dull yourself. Now, you know better.

Yes boss😂

Hi @gentleshaid,
When I saw the price collapse my first thought was for my friends who depend on this for income. Of course we all want to get rich, but I am long past my earning years. At my age, if I don't have savings I am pretty much in the soup :)) So the plummet is discouraging but not damaging.

However, I agree. It is an opportunity. I told my husband that. We won't buy any, but I will blog and enthusiastically participate. I love this platform. I love the opportunity it gives people. I love meeting people (like you). It's wonderful you can take the long view. Wise man.

Take care.

A little austerity now for a better tomorrow. We are in good hands. What Hive offers is simply amazing for everyone involved - investors, creators, devs, etc. Cheers

What's the benefit of setting the posts to 100% power up @gentleshaid ? Can you break it down better for me, please 🥺

With low hive price, you will get more hive (as HP) compared to getting 50% HBD and 50% Hive.

Oh. I think I'll have to try that. Thanks for explaining. 💚

you are welcome