I thought it would probably be a good time to write a short post on this subject. Maybe, just maybe, if you are a newcomer you might be thinking to yourself that this whole crypto thing is going bust, and that today's price drop on hive further confirms this "fact", but...
In my opinion... at least
Today's movement on Hive further confirms a true bottom. Why would I say this? Well, because it's not happened due to anything that Hive and it's users have done. As a matter of fact, Hive has not moved 20% down as it may seem.
Always look at BTC
If BTC is down, everything is down. Cryptocurrencies, without exception it seems, are connected by the hip to Bitcoin price. There is a reason why OG's believe it to be the king. So, when BTC moves, it raises the tide or lowers it.
You could say that altcoins, as people call them, simply float on top of BTC"s valuation for most of the time. Yes, when the bull market starts, they may get crazy and thus make some people a lot of money and some a lot of pain, but when things are relatively calm, they simply float around.
BTC is down 11%
As I'm typing this, Bitcoin is hovering around $17k which is a low we've not hit for months now. I laugh at the idea of BTC being dead at this prices, more so because I've been around since it was $600 bucks and when it reached $1k I could barely believe it to be true.
If you don't panic
If you simply understand that these waves have always been like this, and probably will continue to be so for years to come, you can truly focus on things that matter when the "blood on the street" days pop up.
Opportunity!
For everyone, really. Usually when valuation goes down, people tend to post less, thus giving you more chances of being supported by curation teams and what not.
So, if you don't have the means to buy some Hive, which I believe we are at a great entry point at this moment. Consider hustling with some quality content and interactions.
I've been around here long enough to see minnows become whales, and a few examples of some who did it simply with work and dedication.
Cheers my friends
MenO
Great post, keep being active man, we miss your reflections
Ive been super busy in the shop for the last few weeks... I need to learn how to manage my time better and keep on posting.
Nice to see you posting once in a while. I remember you were a hit back in 2018 bear market. Great post. Simply said, but highly valuable. Hive on!