What I Am Doing To Prepare For The Next Bull Run

Image illustrated using Freepik

This blog is my entry for the Hive Naija weekly prompt. I have been seeing this subject flying around on Leothread since the beginning of the week, and today, I decided to take a stab at it.

Having been on the blockchain for over 4 years, I have been fortunate enough to experience a bull run in which I immensely profited from. Blogging on blockchain social media has exposed me to many crypto projects where I have had the chance to build several significant holdings before the last bull run. With the experience I have gained, and that helped me to make the bank in the last bull run, I can confidently use those experiences to take advantage of the next bull run. Below are some ideas I am using in preparation for the next bull run.

Starting small

The most important thing is to start early, and in the crypto space, no time is late. Fortunately, most of us have already started without being aware of it. Whether you know it or not as long as you are making income in crypto In any way, you have started early.

Starting early does not mean I start buying the bottom of every shitcoin. As long as I am a blockchain hustler, I may not need to invest a dime, I only need to keep picking a few SATs here and there, and keep building my bag which I think I doing currently. Those SATs may be worth pennies today, but When the big drops happen, and the bulls finally set loose I believe I am certainly going to make the bank.

Nonetheless, I need to be passionate about my goal of building my crypto bags by this method so it can make a huge difference to my motivation and drive. It may not look like anything worthwhile in the building stage, that's why I need to be passionate about what I am doing as I keep picking up SATs and having fun doing it.

Taking advantage of DeFi functionalities to beat the bears

As you must know, the bear market has no respect for the size of your crypto bag. It doesn't matter whether you are a Whale or not, as long as the bears strike it still goes up and down. While many are watching their bags being eaten up by the bears as they keep waiting for the bull's return. I have learned to take advantage of DeFi's functionalities and ways to beat the bears.

The only way to beat the Bears is to keep making profit on your coins in a less risky way using DeFi staking. Using DeFi staking means that you are offering your coins to the network and expecting the network to pay you for that. I used this method to build my bags before the last bull run, and I think it's still the best way to go this time around.

Before the last bull run, precisely early 2021, I converted all my coins to my favorite tradable basket of SATs, which at the time was BCH. I move the funds over to the new DeFi platform on the Bitcoin Cash chain at the time and stack them. I earned a steady passive income that helped to raise my bags until the bull run of June 2021 which then translated to the biggest capital appreciation of my life.

Fortunately, the Hive platform has a lot of DeFi functionalities, and working out which DeFi coin to use and stack is made very easy. This reduces a lot of the stress from the difficulty of finding a safe DeFi platform to use, which is why I am very passionate about the Hive platform and stacking all my SATs as soon as they come.

Using stablecoin to hedge my funds occasionally to beat violet volatility

In the crypto markets, volatility is a major issue. Most coins are prone to wild swings. By using stablecoins, we can beat volatility while at the same time making a steady profit on our holdings.

For instance, before the last bull run, I was using COIFLEX, a stablecoin on the smartBCH chain which was adopted by the community who used it as a cheap, safe, and simple tool to move funds. Any time I notice a wide swing of volatility on the coin I was stacking, I would pull down my stacks and swap to COIFLEX for a couple of days, while locking my bags away in a safe spot, and as soon as the volatility came down, and I notice an upward trend, I would bring my bags back to the coin. In that way, I continue to add up on my bags while I protect my holdings with the risk of losing some to the volatility.

I can still use the method on my HIVE with HBD, the Hive blockchain stablecoin. Whenever I feel the volatility is too high. I can convert my HIVE to HBD, and once the market stabilizes, I convert back to HIVE. This is one sure way to build my HIVE portfolio in preparation for the upcoming bull run. This method can work for everyone perfectly, and it comes with no risk.

Although no one can tell when the next bull run will start, I believe that the safest way to build a bag is to start picking up SATs as much as you can and be very passionate about it. No one is ever late in the crypto space, we are all still early.

While volatility is always a huge issue, it is usually kept in check by staking. This way, I keep earning more coins to beat the losses that the market may cause.

By using stablecoin to hedge my funds, I can be confident knowing that I will be able to protect my portfolio against a drop in crypto value while waiting for the next bull run to begin.

Posted Using LeoFinance Alpha