Did you catch a falling knife?
The market trend is making people catch a falling knife. I invested when the price of Hive was around 90 cents initially to book a small profit when the price heals back to 1 dollar. I did not expect the price to go below 85 cents but it happened. I then purchased some Hive again at 88 cents and I was waiting for the price to heal back. Then again at 80 cents and then again at 75 cents and I don't have any stable coin left with me to purchase more.
it is more like catching a falling knife. As long as there is some improvement in the price of Hive in a short period of time, I would be happy to wait. Otherwise, the only option would be to power up and wait for the market to reach above 1 dollar again and power down at that time. I have never initiated power down from my account. Every time this happens, I only sell what I have in hand instead of powering down and selling. I think I would be doing only that again.
Catching a falling knife is the phrase that is usually referred to as continuous buying during a bear market. People invest for every dip and another new dip comes. They keep going until they are fully done with the investment and if the price stays at the bottom for a longer period of time then the knife they caught would have hurt their hand. This is considered to be a hazardous investment.
When I thought about this situation, I remembered an incident where I was continuously investing several thousands of dollars worth of Indian money on one particular stock expecting to see a sudden pump. Unfortunately, the stock was continuously going down when all other stocks were going up that particular day. The expectation was to see a sudden pump in the price of that stock. But then only I realized that the stock was going down because the company was going to be shut down. At least we don't have such a concept in crypto for the native coins.
What would be your strategy in this bear market trend? I will be holding strong for some more time to see how far the market can go. I'm glad that I was not very greedy to have sold my HBD and purchased Hive with that. That's another risky investment. Thank god I saved those HBDs and glad that they are giving me over 20% interest per year. This is definitely better than any other type of investment out there.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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Posted Using LeoFinance Beta
Well, I bought 2000 Hive at 48 cents, it could be a falling knife, still I think it could be a great buy...
That's definitely a good amount of Hive I should say. Keep holding and I'm sure we might see it reach 1$ in another 6 months down the line or even sooner.
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My tries to catch the Bitcoin knife were bloody. Now I've got to wait for maybe 3 years to regain my losses, if we are still doing 4-year cycles. If not, anything can happen, and I can lose all my gained Bitcoins every bit as easily.
A gamble of a lifetime. I just hope I can still make it.
Same here but mine was on Hive. But I'm happy to wait and see for another 3 to 5 years at least. My target is just 1$ Hive and not more than that.
I think we haven't seen it yet, we need to be ready.
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Lol yeah, there is a high possibility for a further fall. But I hope Hive shouldn't go below 25 cents.
You have a very optimistic forecast, I think we will see at 0.15)
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The knife is kind of bad but I only used my liquid HBD to buy some Hive. The rest is still sitting in my savings so I can pull it out when I see the price lower.
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Using only the liquid HBD is a wise move. I'm sure it won't go below 25 cents this time. I might as well take my savings out and purchase Hive. The price is very attractive.
I may buy more hive - fyi, hive / leo / cub is my only crypt investment. Invested 4.7k$ in cub and its now nothing.
I would stay away from leo, cub or polycub for now as they are second layer coins. Focusing on some first layer coins is good at the moment. Hive is always best and now is the right time to invest if you plan for long term. Maybe some native coins like BTC, ETH, DOT etc would also be a good choice. I've already exhausted my stable coin reserves on Hive. It can take some time for Hive to heal back to 1$. Until then maybe powering up would be a good option.
Ya, investing in polycub was a mistake.
Leofinance is a bit centralized and we have to be a little careful with how much we are investing.
I thought I would buy my dream car :) it is now nuts.
Falling knife or not at this point I think the market is all discounted. I want to see it bleed a little more and start positioning my self. I remember the feeling of hoping I was early in crypto and now is a time to start preparing and growing my understanding of the space. What was invested in passed will stay there and eventually the markets will catch up. Now is the time to start afresh and get better positioned
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