MY FIRST TIME EXPERIENCE WITH A BEAR MARKET

Being relatively new to the world of cryptocurrencies, I never knew what the word “bear” meant until a few days back when hive started dropping and I started seeing a lot of articles on it.

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To me, even when looking into the crypto-verse as I normally call it, I presumed that it was pretty normal for there to be certain rises and falling just like in the economy so I was a bit shocked when I saw a lot of panicking going around but then again I guess it is expected since it has to deal with finance and investments.

HOW IS MY FIRST BEAR RUN GOING?

As this is my first experience with the bear market, you might think I would be panicking but well, it is going very nicely if I may say so, I haven’t really thought much about it as something that I need to be scared about especially since hive is long term thing for me and I am hopeful that after a bear run comes a bull so I am considering this bear as something that inevitably has to happen.

I would subsequently say that I feel like the bear market isn’t affecting me as much because I wouldn’t say I have so much to lose and most of my crypto assets rests on hive so maybe my experience is way different than someone else who has invested way more.

MY STRATEGY FOR THIS BEAR MARKET

As someone who loves being strategic and spends her days planning about everything I have been trying to figure out ways to strategically handle the bear market and what may come and these are what I plan on doing right now.

First, I don’t plan on panic selling or panic buying the dip right now because since I am still a noob ( another word I learned recently), I wouldn’t consider myself the most knowledgeable when it comes to crypto but then again if I have a change of heart and decide to buy or sell, I will focus of doing my own research and not following what others might say.

Secondly, I plan on focusing on hive and still putting the same effort as I have been doing for the last months, I feel like most people might fall off during these times but I don’t plan on being one of those.

Lastly, I will be looking for ways to find other streams of income because while things are going down, hive is still my only source of income and I still would need to get by daily.

FINALLY,

For those who are newbies like me and keep seeing their hive account worth going down, I will advise you to not think too much about it and keep doing what you are doing, eventually, it will all work out or (not) but still you can’t exactly stop what is happening.


THANK YOU FOR OPENING THIS BOX OF PASSION

Posted Using LeoFinance Beta



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19 comments
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(Edited)

Thank you for the Enlightenment cause up until now, never heard about the bear market either😅
As for Hive, as you've adviced, let's stay unwavered and possibly find other sources of income.
Great Post, so helpful ❤️🤗

!PIZZA

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Thank you so much for reading, I am glad you could learn for me.

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Very sensible attitude. You can feel the depression hitting, like a digital wave of discontent, from the community. It’s awful to feel it, but we’re all in the same boat 🚣‍♀️. Hive will not fail in the long run, you just have to use common sense to see that - people have to stake Hive in order to earn here, by staking (HP) they strengthen the token. There’s no way Hive can fail, not in the long term, not as long as people continue to power up. Next you need to consider that Hive at around $0.8 is an absolute steal, if you invest in something like Bitcoin, what are the chances for your investment doubling or tripling (eg: Bitcoin at $100 000), I’d say it can happen, but chances are slim. On the other hand Hive at $3 is more than feasible (which would be more than tripling your investment). If I had extra fiat, I would buy right now, (with all my might). Another good thing to do is to put your HBD into savings, the return is 12%. Here’s hoping for sense and less panic.

Stay calm, like all things, this will pass
❤️💕❤️💕❤️💕💕

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These are all amazing points, some I never even thought about but I guess it is pretty normal for people to panic especially if it's their first rodeo.

I feel like staying calm is the best plan because if we are being hopeful then we know that hive will be back up.

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(Edited)

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You have it exactly right don't worry about it right now there will be pumps and dumps and as scary as it can be to see sometimes just harden those diamond hands and wait for a few months/year and you will see it go back up.

Obviously not with everything but something like HIVE or SPS I think will be huge in the future.

!PIZZA

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Yeah, I am pretty hopeful so I have nothing to worry about.

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Everything I wanted to say on bear market. It's nice to hear that you have control over your emotions, many people just panic sell and then regret afterwards like idiots...lol

!PIZZA

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It is important to have control over your emotions especially when it comes to finances.

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May I add, that it helps if you look at your numbers as HIVE, and not pay much attention to what it says the equivalent value is in $usd.

Your HIVE is there, it stays the same. Unless you sell it for something else (which is something you'll probably regret later).

It's a lesson I learned from back when BTC was less than $1000 worth. If I didn't look at it's $ value, I would've had a very different balance by now.

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This is actually very true because since the value in hive remains the same you still haven't lost anything until you probably panic sell for fiat.

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Same thing with me. I am not bothered at all with the bear market now since I don't need any money to spend especially getting sad of selling during the dip but nevertheless, I believe things would go up again. We just need to be patience and not panic.

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I think that is the best way to handle this because there isn't even much we can do even though we panic.

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exactly ... stay the course and keep doing content. You'll keep earning and building. When the next bull market arrives.. there will be sweet profit to gain.

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