Are you buying or holding in this bear market?

By Bala | Bala | 9 May 2022


The market is not looking good right now. In the last month, the market has not shown any good positive signs. Sometimes the market goes up and down but the trend has been only downwards. I invested all my stable coins on Hive expecting it to go up but looks like this is not going to happen for quite some time now.

Not just Hive but most of the altcoins and native coins are all having the same problem. It is very bad to see the price of BTC at 32k USD. Everyone wants the market to heal back but for some people like me, it has been like catching a falling knife. I spent a lot of USDT already in purchasing Hive but the market keeps going down continuously. Maybe I have to hold them for a longer period of time and wait for the price to hit back to 1$. From the looks of it, I don't think Hive would reach 1 dollar anytime soon. It can take a while to reach 1 dollar again if I'm not wrong.

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People who are looking for an opportunity to hold Hive long term can consider this a good opportunity. Though this is not financial advice, I would recommend purchasing Hive at the current price because we may not even see this price again for Hive. People are investing in HBD like crazy. 20% APR is the best deal that someone can get for a stable coin investment. In spite of the bear market trend, the price of HBD is still above 90 cents. This is really good news because stabilizing the coin price is happening. But we still need more exchanges and more liquidity.

I still have a small amount of USDT left in my hand. I guess I'll observe the market for a few more days and make some wise investments with the money I have. After this is done, I may not have anything in hand to invest. But there is one option where I can take the money from HBD Savings and use that to purchase Hive and hold that long term. I'm not sure if that would be a wise move. The reason is that trading is usually a double-edged knife, things can get really messy and we may not be able to reap any profit out of it. At least if HBD stays as it is, it will keep yielding at least 20 % of my invested value.

Looks like holding is the only strategy we can do considering the trend of the market. I'm surprised to see many people selling crypto at this time. People who have thoughts about holding the coins long term might make use of this opportunity to buy and people who have absolutely no idea about crypto markets would panic and exit. I would say this is okay because we don't need loose hands in the crypto markets. We need more strong hands and more motivation. I'll be holdings my coins for a minimum of 5 years and even after that, I might look for the right situation to sell my coins. Until then holding and multiplying the coins is the only solution.


If you like what I'm doing on Hive, you can vote me as a witness with the links below.

Vote @balaz as a Hive Witness
Vote @kanibot as a Hive Engine Witness

 


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Bala
Bala

Developer | Writer | Blogger | Gamer | Blockchain Enthusiast


Bala
Bala

This is my general blog. I share different articles I write every single day.

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