Taming the Bear
I will be the first to admit that I have made my fair share of mistakes when it comes to crypto. No doubt about that in my mind. Besides the couple thousand dollars that I threw into LUNA less than a year ago, my biggest mistake is not being ready for the bear market(s).
The first one I will give myself a pass on. I was pretty new to crypto and Hive and my bags just weren't that big. My posts weren't making too much money and the funds just weren't there to do anything besides ride it out.
The second bear market, I totally screwed the pooch. While I took some money out to take care of some real world stuff, I failed to move money around to prepare for future crypto buys.
So, for example, I made a good deal of WAX on an NFT sale. I took half of it and converted to fiat to eliminate my debt. Then, I left the rest as WAX waiting to see what the price would do.
I bet you can guess the price tanked along with everything else and now here I am sitting at a loss with nothing to invest while these prices are low.
What I should have done is move some of that left over WAX into stables while the price was up to prepare for now when the prices are down.
Knowing my luck, I probably would have picked UST as my stable and I would have ended up rekt anyway. So in the grand scheme of thing I might have made the smarter move...
I finally realized the other day that sitting and talking about it or sitting and regretting my moves isn't going to change the past. I need to do something proactive.
With many people expecting the prices to drop even lower from where we are at, I decided I need to be ready. I have some reoccurring buys that happen every month on Coinbase. Yesterday I decided to add another regular buy of USDC each month.
My hope is, after a couple of months I will have a decent amount of USDC built up that I can be ready to pounce when the price of Hive, BTC, ETH, or whatever reaches a favorable place to buy.
I know I said I shouldn't dwell on the past, but if I had it to do all over again, I likely would have taken that money I put into LUNA and used it to buy a couple more Splinterlands validator nodes. Splinterlands seems like a really good investment. They have a proven track record and they just keep giving us awesome stuff.
It feels like one of the most solid investments in all of crypto right now.
With that in mind, I am planning on buying some of the Tower Defense packs today in the presale. I honestly have no idea how fast they are going to go. Separate from the main game, they could sell like hotcakes or it could go a little slower. My money is on a mad rush for them.
I guess we will see....
Whatever happens, I plan on being ready...
Sports Talk Social - @bozz.sports
Posted Using LeoFinance Beta
The bear market really hooked me in the throat. I lost about a thousand dollars in Luna.
I felt very devastated and almost ended up in depression. Thank goodness for Hive. I come hear to enjoy myself and think less of my loss.
Hope you are getting healed
I lost a little more than that, not too much tough. Thankfully for me it was gains from another project, so it wasn't too bad. I still wish I had it back...
Posted Using LeoFinance Beta
Positioning oneself is key. I often find myself mapping out plans and strategies in my mind, and without it I would have been a serious casualty of the current bear market. I like your USDC plan, I have been doing likewise for a while, with BUSD.
Posted Using LeoFinance Beta
That seems like a really smart move. I wish I would have started doing it sooner!
Posted Using LeoFinance Beta
My first bear market and have made all the above mistakes 😂 Wisdom earned hard!
Don't feel too bad, I think we have all been there!
Posted Using LeoFinance Beta
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
Please contribute to the community by upvoting this comment and posts made by @indiaunited.
You are so like me. Although I have bought some crypto for the past few months I do have my regrets regarding LUNA and not taking more profits.
Yeah, I really should have played that a bit different, but my funds were locked up and it was too late. Those are the times that staking comes back to bite you!
Posted Using LeoFinance Beta
Thanks for sharing. We can all learn from each others experiences.
Posted Using LeoFinance Beta
Very true! As well as our own!
Posted Using LeoFinance Beta
I dont care what happens anymore considering its not crucial for me to earn here. I will admitt I should have sold a lot of Splinterland assets at the top and I got my ass handed to me with defi!
Posted Using LeoFinance Beta
You know what, that is probably the healthiest attitude about this whole thing I have seen today. There is a lot of peace in just being able to say eff it!
Posted Using LeoFinance Beta
It's a solid plan if you are just waiting for the right prices. Just make sure to buy the solid cryptos because the meme coins won't really do well in the bear market.
Posted Using LeoFinance Beta
Yeah, for sure!
Hey!
Did you end up buying Tower Defense packs?
Posted Using LeoFinance Beta
Yeah, I got twenty of them in the presale.
Nice!
Oh, ouch! Sounds like you have had some teaching moments. Doesn't pay to dwell on the mistakes. I do that too much in other areas of life. I feel like I haven't lost anything here because I am moving so slowly with my investing. Haven't had to take anything out yet either. That helps too.
!CTP
Posted Using LeoFinance Beta
For me most of it has been gained inside the system, so it isn't a huge deal, but I still wish I had it back to do something differently with it.
That helps to make it sting less. Difficult not to wish that.
For sure!
Posted Using LeoFinance Beta
👍😀
I am doing something similar to prepare for the next bear, but am doing it isolated in Hive. So, gonna continue to invest in HBD indirectly on the Cub finance site. Gonna increase my pooling in the bHBD-BUSD pool.
I realize that this is no "investing" in the strictest sense and yes I know all about impermanent loss (the hard way). I figure it is a good slow way to build cash-like crypto that I can later use easily for other crypto investing :-)
I think that is a smart idea. The problem is CUB is so low that unless you have a ton staked you aren't making that much anyway. I would totally be rolling my CUB back into bhbd if the price was reasonable. I don't worry too much about impermanent loss. It is all house money for me since I only ever invested my gains from other projects.
I don't know about a ton, but I do have a lot staked :-)
I get about $5 worth of CUB/day. I either convert it all to bLEO (currently what I am doing) or to bHIVE and/or bHBD and repool respectively. I may shift more into bHBD-BUSD if crypto goes down in general, but... I still want to do some bHBD-bhIVE also.
Currently I am still mostly focused on and distracted by bLEO --> LEO ;-)
Posted Using LeoFinance Beta
Yeah, see, I think I bring in less than $1 per day. It ends up being 100 CUB every two days or so. It's just not enough at this point to even make the fees on BSC worth it. I don't really blame that on how much I put in, I blame it on the price of the token.