Let Us Discuss The Bear Market
We are seeing the crypto market obliterated. This is something that sends people screaming.
In this video I discuss how focus is important and the industry hasnt changed in the last 72 hours. If CEX are the future, this week's events might be important. However, if that isnt what is ahead, we will see how this is not really that big a deal.
▶️ 3Speak
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It's an epic bear market and I can help but associate it to the FTX collapse that has occurred. All the institutional money is leaving and causing wide spread chaos.
I was really hoping to see Hive Rally to $1 by years end.
Just another day in crypto. It's not about price volatility for me. It's much bigger than that.
Dividends and other types of passive income in long term? I am trying to focus on this. Mostly with Hive Dollar (HBD) savings. I am regularly building it. Often cents by cents.
Yep we have to keep the long term goal of the project in mind. Daily/weekly/monthly price fluctuations are irrelevant.
In 10 years time we will see if we were right?
Probably/hopefully. I am planning to build this for decades. Hopefully we will be able to build a good passive income in long term.
This looks like the bottom, we've started to bounce back. The Leo Bridge is probably doing solid work right now.
Not yet. We already seen worse than this. Hive is currently $0.3157 USD, with the lowest of $0.2877 USD in the previous 24 hours. This value is one year lowest too. Will it soon go below $0.20 USD again? Two years ago it was around $0.11 USD. Looks like it will return to that value. We will see.
Well I am definitely not going to sell at any loss🤣 so screw the bear market... Im a bull run type of guy.. Id rather wait even if I wait 10 years
Hopefully we do not have to wait that long.
Yeahhh hahaha It would be a bummer broh
when I was saying I'm waiting for 10k bitcoin to buy in, people thought I was crazier than I usually am :)
Nowadays the whole market is crazy. The bear market is raging, and most people are selling their cryptocurrencies because of fear and panic.
fear and panic are for smooth brains, I've been waiting for this moment for like 2 years :) Gonna buy me lots of cheap BCT and Hive
I am also buying Hive, and I am buying Hive dollar (HBD) too.
Nothing has really changed and I am also not surprised to see things fail. In a way, anything that isn't sustainable should fail so that other companies/projects can take their place. If only that happened in the real world as well because some companies don't because the government bails them out.
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Your words make sense. The most affected by these price fluctuations are the ones, myself included, who live off this thing. That's where emotions go wild. In the quest of making the most with the minimum amount of cash and being convenient at the same time many of us are going for stuff like LUNA, FTX, 3AC, and so on... I guess the bear market is not over yet, I guess the halving is still the main trigger of the next bull market and we're more than a year away from that. We'll see. I'm sticking around anyway.
Summary:
In this video, Task addresses the recent drop in the cryptocurrency market and emphasizes the importance of focusing on the fundamentals of projects rather than being swayed by short-term market fluctuations. He discusses the acquisition of FTX by Binance and questions the significance of centralized exchanges in the future of cryptocurrency. Task highlights the importance of decentralized exchanges, liquidity pools, and quality projects with real utility. He draws parallels between the evolution of the internet and the current state of cryptocurrency, stressing the significance of technology, development, and the role of developers in the crypto space. Task concludes by encouraging viewers to weather the storm, emphasizing the importance of commitment, long-term thinking, and focusing on projects with strong fundamentals during market downturns.
Detailed Article:
Task starts the video by acknowledging the recent turmoil in the cryptocurrency market, describing it as a "carnage" that is hard to ignore. He notes that while the market has been significantly impacted, the fundamentals of the industry have not drastically changed in the past 48 hours. Task mentions the acquisition of FTX by Binance and questions the relevance of centralized exchanges in the future of cryptocurrency. He prompts viewers to consider their beliefs about the future of crypto, emphasizing the importance of focusing on quality projects with real utility that align with the principles of decentralized finance (DeFi).
The discussion shifts towards the technological foundation of cryptocurrencies, highlighting the significance of technology, blockchain, digital money, computer networking, and security. Task underlines the crucial role of developers in the crypto space, citing figures like Vitalik Buterin and Dan Larimer as instrumental in building and maintaining these technological systems. He stresses that marketing, while important, takes a backseat to technical development in the current stage of the industry's evolution.
Drawing parallels to the evolution of the internet, Task discusses the gradual development of Web 1.0 and Web 2.0, emphasizing the time it takes for technological advancements to mature. He compares the early stages of social media platforms like Facebook and Twitter to the current state of the cryptocurrency market, highlighting the importance of long-term thinking and commitment in navigating volatile market conditions.
Task addresses the recent market downturn, referring to it as a "bloodbath" and a "catastrophe." He encourages viewers to consider dollar-cost averaging and remain committed to projects with strong development focus. Task predicts that projects with a robust development roadmap will emerge as winners in the long run, as markets have a way of filtering out lesser-quality projects and investors. He acknowledges the challenges of being a hodler during market downturns but stresses the importance of resilience and long-term vision in navigating the volatility of the crypto market.
In conclusion, Task urges viewers to stay committed, focus on quality projects, and maintain a long-term perspective despite the challenges posed by market fluctuations.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.