Enduring the Bear Market of Crypto....
Being able to survive, is itself getting difficult in the recent days! There might be some known reasons behind it. Some of which I have encountered are the recent economic crush of different countries and the recent surge of inflation (I'm a victim of it) and also the issue of Russia is creating chaos all over the globe. Any sort of solution to this current problem is welcomed. Eagerly waiting to see what awaits for us in the future.
Even as of today, Crypto is getting affected by it! Needles to say, new money needs to flow in crypto which will bounce the market or we need something big (news, proper focus, adoption) anything that will bring the utilities of the blockchain and crypto in the eyes of investors or generic people. As of today it is difficult for people to nose dive into something new. Like I said, a lot has been happening into our world.
Let's be honest, the recent situation of overall crypto market is literally facing a turmoil. BTC crumbling and altcoins trying so hard to recover but yet the resistance if much bigger than we are expecting. In fact officially bear market has been successfully crossing months. Although, the best thing which has happened so far, we are surviving!
Reasons for getting worried
When BTC started to drop significantly from it's ATH, it was becoming very clear how the market is going to react. While few issues was getting me really worried. I literally stumbled upon few facts and I deduced the risks of my investments and started to think rationally.
- I can not stop the bear from incoming!
- I do not want to sell my coins/tokens in less price!
- I want to accumulate some coins in literally cheap price!
- I want to collect coins and stack them for bull market!
- I need outside money!
Most of the above points were certain. They will come over no matter what. But the ones which I can control I started emphasizing them. In which I was able to come up with few strategies. Which I am not saying have served me well, but as far as I am seeing I am not taking anything out of HIVE, which was once an issue for me. If that is taken care of, than I should say it has served me well.
Prepare for the Bear : This was really unexpected. As I had few important occasions coming up, I was in badly need of cash. Since I ran out of liquid money all I had to was two things, one was sell my coins at a low price as bear had already started or do something with them instead of selling. Luckily, I was able to get a loan on my crypto coins. Yeah, you heard that right! Since, that seemed the best route for me, I took that! Although, there was some additional interest which I have to give but I had few benefits over this deal. First of all, I did not spend the whole amount of my loan. I bought a passive income generator from that loan amount and it will keep on generating revenue for me until the project exist. While I also invested a significant amount into other crypto projects which have helped me survive this bear. Not that the bear is over but I am still getting some additional money from these investments and so far its going pretty nicely.
Even though the bear market has hit us real hard we are lucky in a way. Don't get mad! As I am aware many of us are at a huge loss. But think of it the other way. We are getting a significant chance of revival in this bear market. We are not sure when and how this bear market will come to an end. But coming to think about the upcoming days and the significance of crypto we have a deep faith and belief in the technology of blockchain which will eventually revive the plot and we will be able to see the bull market once again. So that's why getting some of your favorite coins are currently at a discounted price. And when thought of that way BEARS becomes an opportunity for you and I. It will eventually bear fruits for us all in the coming days.
Coming to talk about HIVE, it is staying at a decent price of around 50 cents but any pump can take it to a dollar and moreover always remember when the price of HIVE rises all content creators in a way are going to get less author reward. The payouts might seem high but think of it this way. Let's say your post is set by default 50/50. 50% HP is guaranteed but when you get HBD and if you convert that into HIVE you will get less HIVE in return compared to now. So technically it is a loss. Creating contents in bear market is much more fruitful than in Bull.
Well, I am not sure how long will I be able to sustain this way as some of my outside investments are getting shallow as we speak. Since most of them are not sustainable long term but even after all this, I will try my best to keep the things as it is and sustain myself without touching anything on HIVE. Wish me Luck guys :)
Best regards
Rehan
Posted Using LeoFinance Beta
Good luck!
Great move! By the way, where did you take it at what interest rate?
!PIZZA
From the bank of
@neoxianHe is a HIVE witness and apparently runs a bank in HIVE ;)
Posted Using LeoFinance Beta
Funny, I didn't know about that...
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aha, I do love your post, really like the way you write 🤗, indeed it is really hard for all of us to survive the bear market for sure. Not all do have the patience for that and there are sure many of the inverters are earning a good profit in the bear market too.
Yes indeed this is the best time to invest indeed, but I think this time I am not able to buy any lovely hive 😅. I do have a huge loan to complete and the amount is huge for me too. I am not sure how much time it is going to take me to finish that up. at first, my plans were simple to power down and sell the hive. but seems like this is a hint for me dont sell now (this is not a good time to sell 🙃)
But I do some changes in the plan he hee, I will share that in my post after a few weeks. 😀 let's see how things will go.
we all do have problems in our life the thing that makes us different from others is how we take the problem and how we solve it.
thanks for sharing your thoughts, it feels good to read your posts.🤗🙏😀
have a great day and week
!giphy thanks
!PIZZA
Via Tenor
Thanks bro for the appreciation!
Debt is something which really halts many of our paths. I am currently in debt lol and I know how it really feels. Yes, if I had HP in my wallet I would have powered down that in the past. But in the last few months I realized how things are going to be turning out in the future. And how these HP are going to play a vital role for us. Which is why I am doing everything that I can do increase my stake in HP along with other HIVE assets.
Yes, life has its own problems but its better to give out more of our time in solving these issues rather than getting an easy escape in the name of debts and all. Everyone has problems and I suppose, we will have to live with that.
Btw I really wish that you get over the debts and also increase your HIVE stake along the way bro! Have a good day!
Posted Using LeoFinance Beta
Selling at these levels really bites, a year ago you would have got 10X the amount, but as you say, you can't stop the bear! One can only plan for next time around, and work hard now to try and offset losses.
Posted Using LeoFinance Beta
That's the plan. Which is why I can not waste any opportunity at my disposal during this period of the time. While I hope in next bear I will not have to worry about anything at all.
Posted Using LeoFinance Beta
That's it! That's the right mindset...