NO, the Sky is Not Falling, Just the Markets

Any of us interested in crypto has been watching the markets and their downward plunge of the last several days. After six years in this space, all that red is not news.

Here Comes the Doom & Gloomers

Sure enough though, I’ve been seeing the posts and articles emerging of gloom and doom. The media loves their headlines announcing the plunge of Bitcoin like it was end of days.

On Hive I see the posts of anxious Hivians who seem to think it’s just Hive dropping. Some call for urgent marketing to bring people to Hive with the belief that will send the price skyrocketing.

My Past Experience

Now, I watch a bit bemused. There were the days when I didn’t post doom and gloom but I had some serious convos with myself as to my sanity. Part of me urged me to cut my losses, power down, cash out.

The other part was a little more, “let’s see”. That part took the attitude earning some income on my writing was way more than earning none elsewhere.

Turned out, the “let’s see” part was the right part. I kept on creating content and kept on earning crypto for doing so. Even when the legacy chain was as low as 8 cents each. Even during the long two year bear market we all went through.

Many left the platform. Many others were discouraged and not really sure why they were staying. In many ways, it was during that dark time when the strength of the community really started to form.

People encouraged others to stay, worked on supporting each other. Tried to ignore the doom sayers who continued to post and earn while announcing the death of the platform.

Sure enough, eventually the markets picked up. As they rose, some who had deserted during the bear market returned. Others came flooding in thinking they were just about to make their fortune because you know, it’s just going to keep going up.

That doesn’t happen. What goes up will eventually peak and fall again. There are very few coins or tokens around for any length of time that doesn’t have a chart showing multiple peaks and valleys.

Last Summer and Now

Last summer we saw Hive up around $3.40, today it’s down at $ .638. There are some doing a lot worse.

You know what isn’t way down? HBD

Our stablecoin is being rather, well, stable. As I write this post it’s at $ .99. Anytime I’ve checked during this downturn I’ve not seen it fall below $ .90.

The Unstable Stablecoin

This morning reports of UST, the stablecoin for the Terra network were not at all that good. It had gone into freefall and their ability to stabilize it along with. Last I looked, it was down around $ .63 and some of the major exchanges had halted trading.

@l337m45732 (Nifty Phil) wrote an excellent piece explaining how UST has nosedived while HBD has been able to stay stable.

Time to Ride the Bear

There is no telling how long any bear market is going to stick around. Bailing is not a good idea. Calm your nerves, hop on the bear and get your head down on creating good content.

People will still be upvoting and you’ll still be earning. Don’t forget to visit posts, leave comments, upvote. Get to know some newbies and help to support and encourage them. They are arriving at an unsettled time.

You know, do what you always do. Maybe even some more if you’re delivering good content.

Trust me, when the bull chases the bear out the door and into hibernation, you’re going to enjoy seeing that Hive earned at $ .638 or where ever it lands selling at what ever new high it goes to.

I remember the sweet taste of selling Steem earned at 8 cents for $8. That was a one time deal but it showed the possibilities of what can happen.

Stick to the marathon and the patience it takes.

NOTES

1. Hive market screenshot from CoinMarketCap.com
2. Bull and Bear image from Pixaby

Shadowspub is a writer from Ontario, Canada. She writes on a variety of subjects as she pursues her passion for learning. She also writes on other platforms and enjoys creating books you use like journals, notebooks, coloring books etc.

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