Those of us who've been here in the crypto market since 2017 and before know three things:
- Bull markets are awesome (obvs)
- Bull markets are super short (most of the action can be over in a matter of a few weeks)
- Bull markets can leave you 'rekt' if you don't bank your profits.
I've messed up on points 2 and 3 for the past two bull runs (since 2017). I've watched prices rise massively and enjoyed refreshing the page on my portfolio to admire my (paper) gains. And then watched those profits evaporate a matter of days later... Gutting!
You've gotta bank those profits when they come. And where do you put those profits? Maybe HBD Savings could be a good spot? Our very own native stable coin (that's done a pretty good job of staying pegged to the $ over recent years) with a very enticing and juicy 20% interest yield.
But there's no bull market. Yet.
But it feels like it might be close. A combination of factors coming together inc Blackrock BTC ETF application; BTC halving next year; XRP win against the SEC etc, makes the market moves look ever closer.
What to do in the meantime?
The temptation is to start (/continue) stacking HBD into savings to make the most of the 20% interest rate. But the danger here is that you take your eye off the potential mega moves that can happen if and when a full bull run (suddenly) takes shape - in a major bull market, 20% returns can be more like 200% or even 2,000% returns!
When a bull market hits, you want to be liquid in Hive...
The good news is that the lock up on saved HBD is only three days so it shouldn't take too long to access HBD to then convert into Hive. Ride the wave and then convert back into HBD to increase your stack earning at 20%.
But these are extra steps. Timing friction. I might hold off stacking HBD (for now).
What's your strategy going to be for the next bull run?
Not financial advice.
The last time it was spike in hive I converted it to hbd with thought of putting it back into Hive when the price fell. Once it was in savings and I saw the interest accumulated I decided to go full hbd. I know the risk is losing HP in the long run but I'm stacking HPD until I hit 3600. That point the interest will be 60 HPD a month at 20%, and that means that each month I will also add one hbd and interest. At that point I feel like I can let hbd run and I can focus on other stuff. Probably regret not having more HP on the road like I regret most of my crypto decisions but hey if I knew how everything was going to play out I have held on my BTC and that word about small positions in HBD !PIZZA
That's right, I just didn't take a profit last time and everything went completely hero. People have to be smart here.
We've all been there, right!?!
I think the best approach is to have 1/3 in HBD … 1/3 in Hive Power …. 1/3 in Liquid Hive … maybe even sitting on an Exchange like Ionomy.com to exchange to Bitcoin or USD …. Or at least available to trade Liquid Hive to HBD with the Internal Market on Hive Wallet … so I’d like to have $10,000 in each place.
Good approach - all bases covered :)
I'm loving the 20% return on HBD, and while I agree the potential return is much greater during a bull run, as you say, it is generally short lived. The last spike that hit $3 lasted just a few days.
For me, I'm staking both my HBD and my HIVE that I earn. I look at it as a form of "dollar cost averaging." The HIVE I earn might one day explode in value, or it might not.
But that HBD return is a nice solid constant.
Good luck!
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20% is a phenomenal return. I am sorely tempted to convert my liquid hive back into HBD and stick it back into Savings.
As they say, slow and steady wins the race...
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Hmm
You mentioned that bull markets can be very short
So you mean that the bear market is always more than the bull market but maybe the bull pumps so well
Wow I didn't understand fully how the bull and bear market runs on Hive but after reading this I have so much insight of how it works.
Thanks for sharing.