What is your strategy?

By belemo | belemo | 24 May 2021


So with crypto prices in the shitters right now and lots of blood in the streets of the market, I feel like this is a good time to regroup. The shocking dump in the market has taken everyone by surprise and with no real explanation behind it, that makes the whole thing 96 times more annoying.

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It seems like just two weeks ago I was planning my trip to Dubai with a fraction of my portfolio and now I'd be lucky if I could pay transport to the toilet. This debacle has been very unkind to me and most people I know, so I like to think that there have been some changes in your plan.

Long term

When it comes to long-term plans, there's not much that has changed there. I am still very invested in projects I believe in and instead of pulling out, I've been buying the dip.

One of such projects is Leofinance that I've been buying lately. As far as I'm concerned, any price of Leo right now is a discount, so I've been filling orders without hesitation.

My cub farm also remains active and that one will be that way for the foreseeable future. I'm waiting on Kingdom to show up and give us more means to earn.

On the Hive front, I'm going to continue posting and growing my account. I'll time the market to buy Hive Hive with my accumulated HBD, but until then, it's just about stacking.

Outside of Hive, I also stake AVA on Travala and will be keeping that one staked for the foreseeable future as well.

Overall, my long-term plans remain unchanged. I'm still infinitely bullish about crypto and excited about the future that is to come.

Medium Term

This one features decisions that I'll make in the next five to six months. My plans haven't changed much as well here, as I'm still fairly certain that Q4 will be a good time for crypto.

Later in the year, I'm going to sell most or all the crypto I hold in exchanges. That includes hive, Ava, and forth. Selling them will enable me to set up an investment in real life.

This "crash" sort of gave me perspective and opened my eyes to the fault in my over-dependency on crypto. Luckily for me, I've been around for a long time so the dip just reduced my green, rather than throw me to the reds but it could easily have done that as well if it dipped some more.

So in the medium term, I'm going to be exploring ways to diversify my earnings. One way will be to invest in a small-scale business that will provide the basics for me.

The business will invariably mean that I won't have to touch my crypto earnings and will be even more long-term in my reasoning.

The alternative is getting a job but I don't think that will help me right now because a job means I won't have time for crypto stuff. So a business wins it and with my wife by my side, I'm sure we'll bring something useful to life.

Short term

I don't have any short-term targets per se, so let's just say I'm winging it. I've been buying Leo regularly but that's a long-term investment that I'm delving into.

I'm going to focus on writing and participating more, improve my gig and improve myself. I'll take courses in finance, SEO reporting, and language courses as well, which will improve my stocks.

My short-term goals are about self-improvement but not in terms of business. They are about gaining skills and knowledge that will invariably place me in a better position to achieve my medium and long-term goals.

Running the rule

As someone who earns everything from crypto, fluctuations in the market affect me in multiple folds. This means that I have to constantly watch the market, to make adjustments when necessary.

My long-term plans remain unchanged because crypto is going to help me achieve them. The goal is early retirement and that's achievable in years to come.

In the medium and short term, I have to make adjustments to my life that facilitate the long-term dream. This means gaining skills and working hard to grow my stocks.

The current market price will influence the depth of my short-term plans but I suspect my medium-term plans won't be too affected. Time will tell but I stay hopeful.

Has the market influenced your plans? Did you have to make any changes due to the unexpected dip? Are you still long-term crypto or did something change? Would love to hear from you.

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belemo
belemo

Writer| Promoter| Content Creator| Activist| Student of life| dreamer| Engineer


belemo
belemo

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