Feeding On The "Bear" Sentiments
The bear market has strangely been hitting harder than we thought and this is probably because of the regularities in the price movement. One thing I've learned so far is that there's no smartest person when it comes to crypto.
People who consider themselves crypto influencers are majorly influencing others based on their sentiment, assertions, or ideas which isn't a reflection of what the future of crypto would be like in the long run.
Let's be factual, most of what we call the truth or fact is what we usually hope for. I remembered when BTC was recovering after hitting 18k some time ago, a lot of people felt it was the bottom, the truth is, this is all hope because we can never tell.
The Validation To Hodl or Sell
Sometimes we expect a certain kind of resistance but then, we don't see or get any of this. It doesn't make sense, we want to place a certain cap, a certain valuation, but then the dip gets deeper and the fear alone is bigger than the fear we're even experiencing.
In a bear market, we're often looking for validation, an expert who would tell us something positive amidst all the doom and gloom. I get it. We need an aura of positivity to keep holding on.
This is why some crypto owner spends so much time on Twitter, listening to influencers and people who are overly negative about crypto. This might seem like a strange way to obtain catharsis, especially when one's on the verge of making mistakes due to fear and doubt.
The Rationale & Sentiments
Fear and doubt are emotions that unsettle our resolve this is why we have a lot of sentiments when it comes to Crypto. We have more sentiment than rationale because we're more emotional when it comes to money. Let's take a look at the dilemma between holding HBD and holding Hive.
One of the reasons why some people would prefer to hold the former is because of stability. Anyone bringing an external investor would firstly want their funds to be safe before thinking of making a profit.
This is why HBD is tailored toward helping investors transition to the wild wild west of Hive. However, we understand that we cannot seek to be stable because stability means maintaining a certain position and this might not be profitable.
Hive & HBD; Making The Smarter Choice
A lot of us experienced Hive's ludicrous run to $3.41 in late November last year, for example, a person holding HBD before this run would have found it difficult to take advantage of that run, but then should the case have been the opposite, they'll have been safe, but then safety when it comes to financing and money isn't necessarily growth.
It gets to a point in time where we'll need to sacrifice that stability in other to seek growth. However, there's a downside, HBD brings stability and offers 20% APY on the other hand.
Hive growth isn't capped and the chances of having "more" is always there but the chances of losing are there. Some of the people who have been here for over three years would choose Hive because they already understand the possibilities.
How Far Can We Go?
However, let's not take away the shine from HBD. while it's not completely your definition of the perfect stablecoin, we can say that the APY it offers can comfortably cover up for the lag in maintaining consistency.
I think we begin to explore the various advantages of having a stablecoin we'd understand how far HBD can go.
Nevertheless, choices are distinctive and relative especially when it aligns with the sentiments and belief of people. This is why I think that crypto sentiment thrives more when people are fearful.
Interested in some more of my works?
Keying Into Sophistication & Exposure To Forestall Economic Revolution
Money: The Learning Curve & Translational Process
What Makes A Job Opportunity Lucrative?
Shopping Online & The Illusion Of Buying Cheap Things
The Humanistic Approach Towards Scarcity & Competition
Spending & Accumulating: The Low & High Point Of The Crypto Seasons.
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If one's not entirely depending on crypto or Hive to be very specific, it's actually a great time to build one's account in terms of HP. When the bear market started, I felt it was easier to grow one's account. But balancing things, so keeping HBDs too in my wallet.
Yeah balancing it out is great. I think we never can tell where the market will tilt, so the best thing is to build equally. HBD and Hive goals. I see you're currently growing your account quite well. How's your job coming?
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I'm still a long way to my goal but closer and closer to it. With consistency, will get there one day. My day job, you mean? :)
Don't worry you're getting time with time.
Yeah, I mean your day job.
Been in my day job for almost 7 years now. I mainly work in the office, more on the planning side of the business. 😊
I am liking the performance of HBD so far maintaining the peg, something which have been a struggle over the years. The temptation is often there to have it converted to HP but I feel growing HBD helps for that quick cash one might be needing in 3-4 days.
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Well I think a person can build a solid monthly income with HBD because of that decency with the peg. Not what we'd want but it's decent enough. Nevertheless building hive for the rainy days is always in contention.
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Unless you desperately need the money, this time would be the worse to sell. The best time to do that is probably two-three years from now.
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Thought leaders are talking about the possibility of the relief rally. They argue that if a rally ever starts, it will surely be a relief rally. They ignore a scenario where the Bitcoin price will never return to $19k. That is the scenario I bought.
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That's a sort of positive scenario which for me is very solid. The truth is that Bitcoin has solidly held it's own, afterall 2018's ATH is currently the bear situation we have at the moment. It's all ups for BTC despite the doubts that are there.
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If people really do read the posts of others and pick out the salient points one would know that this post is has deep facts about cryptocurrency. For me I agree with you that no one is truly a master when it comes with the movement and the future of crypto we only speak base on our self found philosophy and hopes . Cryptocurrency is like wind, the wind has its right to go in the direction it pleases.
Exactly, we cannot beat our chest and say we Know everything when it comes with crypto, because Crypto is advancing, evolving, changing and because we do not know to which extent this happens we cannot 100% right. Our Sentiments and hopes plays a huge part in what we believe in. This is why one must try to gain their own experience and learn their lessons.
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We actually know in part and forecast in part that's why we are just the best person to advice us on cryptocurrency investment so that we don't blame anyone if it doesn't go as predicted. Reading from you is addition.
Well, I am still new to crypto but one thing I have learned is to hodl when we are experiencing dip like this and if possible, use the opportunity to invest more. However, for a stablecoin like HBD, I try to have some of it in savings in case of urgent expenses. So equality is good in this context.
Thanks for sharing 👍