Bitcoin & Bear Market: How to Take Profit (Hive Blockchain)
Many people wonder about how to get profit or especially how we can identify a bear market, it is really not easy, I can tell you from my personal experience that we are currently in the worst bear market in history, this takes almost 2 years and I thought that $HIVE price would not be less than 0.40$ and currently at the time of writing this article I am wondering if it will go down to 0.20$, currently its price is 0.28$ just at the time of writing this article, that's right, totally crazy.
It is really impressive to be in a bear market and not have an income in fiat currency, I think it is something that many users should take into account, from my point of view is the best way to take advantage of a bear market effectively, but no, this is not all, I will also talk a little about how to take advantage of a bear market effectively with a liquidity pool, it is a bit complex but today I will explain it with Bitcoin and USDT because I think it is the simplest way to explain how a liquidity pool works and above all to give my readers an understanding of this, I want many people to learn how to take advantage of a bear market effectively and that is something to keep in mind because we can simply do it effectively and above all get great results.
When we provide liquidity to a pool in PancakeSwap for example, we must do it with the same amount in dollars, for example if we want to provide liquidity with Bitcoin and USDT we have to place 100$ in Bitcoin and 100$ in USDT because I think it is the best way to get profit in a bear market and from my point of view we can provide liquidity in a bear market and above all get out in a bull market, but wait, I want to explain how to get profit in USDT with this strategy.
When we provide liquidity in BTC/USDT we can benefit from the impermanent loss and that is something really great. I want to explain a little bit better, if we provide liquidity in a bear market and Bitcoin goes up 50% then we will have 50% more in Bitcoin and 50% more in USDT because that's how liquidity pools work.
From my point of view this is the best strategy to take profit during a bear market, but there are many other strategies that are more focused on cryptocurrency experts and that is something we should take into account.
For example, buying nowadays is a great idea, I have seen how BNB has dropped a lot in price and many users on Hive have come out with great economic benefits or have contributed liquidity in CUB, I think this is really great.
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From the desk of Carlos Mendoza, all rights reserved. ©
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