The crypto market is not having a good time in the last few weeks. Especially after the Luna incident, the market is crashing like anything. It appears that to manage the crash, the funds are flowing from the good coins to the bad coins to stabilize the market. And obviously, some people are also doing a panic selling. Whatever be the case, I realized that the market is not going to recover back anytime soon. It can take some time for the market to get back to normal.
There is also a possibility that the market can struggle a little bit and stay at this rate for a longer period of time unless we bring in new investors. We have had a long streak of bullish market trends and many people made use of it. Some people also bought their crypto holdings when the market was excellent and now they have to wait for the next bull market to see some profits.
It is also a very risky business for traders. Some traders do make a profit even in this bear market but that's something unpredictable. I did not want to try except for buying some Luna yesterday which is doing good so far. Otherwise, I don't have the funds right now to invest in anything. People are pooling funds from the real world to the crypto world to make some investments. I would say be careful with what you are doing and don't welcome loss by making any mistakes.
Coming to the topic, I decided to move my liquid Hive to the chain and power it up. One reason is the fact that the exchanges are not safe to hold our funds and another fact is that there is no point in keeping the funds liquid. I bought Hive when the price was around 90, 85, 80, 75, and 70 cents. I purchased them little by little thinking that the market fall was pretty short and I can easily recover them when the price goes back to 1$.
Unfortunately, after this LUNA incident, the market will take a lot of time to heal back and might even be months. I decided to move the funds to Hive and power it up. This way I would be able to at least get some curation rewards out of it instead of keeping them as a liquid in exchanges. This is really sad but this was part of my plan. I was going to be doing this when the market went down and I had to do it now. Hopefully, the price of Hive recovers soon and I will also be going faster towards my goal of 50k Hive power soon.
I initially thought I should power up only on the 1st of June but it will not make any sense because there is no point in losing the curation rewards for 15 days just because I want to do the power-up only on Hive Power Up day. I then decided all time is a good time and I pushed the funds to my wallet and powered it up.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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