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
- Hive market screenshot from CoinMarketCap.com
- 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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I've heard investors say that when the market goes done, it's on sale! That's when to buy/invest.
YES, it most certainly is. A great buying opportunity. There is a couple of mine I'm considering raising my holdings in.
It's definitely important to realize that we can keep earning, regardless of the market conditions. We have an incredibly unique opportunity here and we need to take advantage. Thanks for sharing my work!
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I'd read several reports about the UST situation, yours was the easiest to understand and then comparing it to the metrics for HBD was awesome. I tweeted the post out as well.
You are so right! Compliments on your blog, it´s well written and I really do hope that people take the time to read it, because every word is true. Cuddle with this bear now he´s here, calm down your nerves, the bull needs his sleep too. A tired bull can not move markets, a fresh bull can. So do what you always did before, grab your keyboard, share your blogs about everything you want, cuddle with the bear. And once the bull comes back you´ll be happy you did.
that is for sure. We really do have a pretty cozy situation. We don't have to worry about weather we spend money at the wrong time, we just keep producing and that buys us in.
So much opportunities I see.
Now is not the time to be asleep on hive at all.
well some sleep is well. A tired brain is not creative .. oh but you know that doc. :)
Thanks for the encouraging words and historical context @shadowspub ! To paraphrase Warren Buffett, "Be fearful when others are greedy and [keep writing on Hive] when others are fearful." Or something like that. ;-)
I like that paraphrase ... we should do tshirts or an NFT :)
Great quote 🤪
You're absolutely right!
And we need to focus on more of the positive things but people tend to lean towards negativity a bit before they cop on hehe.
I loved your post, it's what we need in these downward trend days!
Because of that, I've featured your post on ListNerds.
And if you don't have it yet, or don't know it, then check it out!
It sure helps surf the downward stream a bit LOL.
Let me know if you have any questions and I'll be glad to help.
thanks .. I do have Listnerds but has been a while since I visited it.
A lot of newer members get fearful when they see the drop especially if they haven't been through a bear market. After going through that 2 year bear market, I learned, patience is key.
That's what I'm planning on doing! ☝️ Thanks for sharing this today, @shadowspub!
I look forward to your continued great content.
No one really knows what happens near term. Like buffet says, "don't try to time the market." Just dollar cost average. Think long term because 'a short focus is not conducive for long profits.
panicking right now and cashing in makes about as much sense as trying to go swimming in the middle of a raging blizzard. Much better to wait for warmer weather.
Keeping calm in these situations is very important. It is equally important not to make emotional decisions, that you will regret later.
very true ..
Put my faith in HBD and it stood strong in the bear howl when UST got knocked down. Now withdrawing it to buy hive dip :)
Thank you for sharing on Listnerds.
it's been awesome watching HBD holding steady through this. It's come near 90 but not below it that I've seen yet.
my all invest is totally down. hope I'll money back within 2 years.
patience is really important right now .. it's disheartening seeing the drop but they do come up.
!LUV your wisdom. Thanks for the (calm) suggestions 😄
@consciouscat(4/4) gave you LUV.
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Well said, a lot of people need reassurance. Old hands like us aren't even bothered... Much. And this old river ain't stopping her flow!
we were joking around at PYPT about riding the bear... having some fun with it instead of being afraid of it
When the market is down like it is now, it is time to buy, not sell in a panic. It will be back up once the world settles down. I saw your post on ListNerds because a ListNerd member shared the link to your post in an email. If you are not already a member of ListNerds, you may want to consider joining and get the same benefits as the person who shared your link. I would love to see more of your posts.
I am a member of Listnerds but haven't logged in recently .. Guess I should :) thanks for dropping by.