Bear markets are not swift. What is swift is the crash. And while that's when most of the virtual portfolio value is lost, it is not the hardest part of the bear market to endure, if your mind is on the virtual loss, and not on the opportunities.
Grinding on rock bottom is what makes many lose their patience. And if, on the rock bottom there is a crevasse, some will turn their virtual losses into real ones by selling, at the worse possible time.
This period is much harder to endure if you live off crypto and don't have enough stablecoins set aside for this period, which seems to go on forever.
But the bear market is for building (and restructuring I'd like to add), as I'm sure you've heard or read enough times already. That offers solid crypto businesses a great opportunity to grow (even startups, if we consider Splinterlands was born in a bear market). Building also means our stakes and portfolios.
I remember during the last bear market the situation was pretty dire on the old chain. Most people were feeling down and the content reflected that. Others simply "disappeared" to return when times were better.
Hive is much different during this bear market, as far as I can tell from the corner I'm in.
It is different from the old chain, 4 years ago, and it is different from the broader crypto communities, back then and now.
Why is that?
First of all, for many who were here in 2018, that was their first bear market. The effect is definitely stronger the first time, especially when you are surrounded by newbies who do mostly the same mistakes you do.
With a bear market under our belts, we were more prepared this time. Not only that, but we could share our past experiences with those who live through a bear market for the first time.
For someone from the outside, it might be surprising to find us looking positively at a bear market. And that's what we are, compared to the general sentiment: an oasis of positivity in the bear market and with a crumbling economy. At least that's how I perceive things, it may not be quite like that.
There is something else that changed since the last bear market and the other chain.
We feel much more than before the chain is ours and no entity sucks the blood out of it.
There are much more opportunities than in 2018. Then, Splinterlands had just launched (without the gameplay), there was no Hive-Engine and therefore no project related to it (including Leofinance). There were no communities either. There was no 3Speak, not to mention SPK Network.
SBD was at times 60 cents and not for a few hours. We don't see that with HBD. There was obviously no interest paid for SBD.
All these and many others keep us occupied in the current Hive ecosystem while providing rewards for our time, and more opportunities to invest in than we have funds.
While the satisfaction we feel in the bull market when our bags moon is something different, it is what we do in the bear market that sets us on one track or another when the bull market starts.
So, wen bear market over?
I don't know. What I do know is that the question becomes mostly irrelevant if you do what it takes during the bear market and don't wait for the bull market.
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Grinding along the bottom is where the experienced build the next bull market's gains... but you are correct, this is where many get shaken out.
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Absolutely. Time in the market brings with it the experience we need to stop making stupid mistakes.
Quite a difficult phase to digest...
That's the trick, digest it, and then you can "work with it". Many simply ignore what does not meet their expectations and ultimately enter a delusional state... which is by default, unproductive.
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The BEAR is hard to ride out, especially for the faint-hearted.
I have seen several people not posting as they used to, and I think that it should be the opposite.
Not to mention, where else are you able to get 20% interest?
Good post, Adrian.
!CTP
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This is the usual response to the bear market for a large category of people. That's obviously wrong, but it's a matter of thinking long-term as opposed to being influenced by market swings and emotions related to that.
A very important aspect that apparently not enough people take into consideration when fiat inflation is so high these days.
I'm hanging on as tight as I can and saving up every penny to be ready for the next bull market! It might help a lot of people to at least think about this post! 💪
Thanks! Just make sure not only to save up but also to grow the stakes you focus on. Don't wait for the prices to pump before you do.
Yes, I agree! 💪🙌
That is the reason why and that is also why I feel like why HBD matters in bear season in Hive. People will love to hedge against crypto and that's where stablecoin comes to your rescue. Thank god we have HBD and with 20% APR, it really makes sense for people to stick with this ecosystem.
During the bull run HIVE will be the motivation, during the bear run, HBD will be the motivation. Either this way or the other way round, it's a win win situation for all.
Actually, I'm thinking in reverse. Build HIVE now when it's cheap and you can earn more, build HBD when HIVE is high and the dollar value of posts grows.
Can you give the details link or resource of PolyCub to stake HIVE to earn at least 20-30% APR if any such offer is available? Thanks in advance. Sorry deviate this topic, but I really need your help on this.
Currently, for BHBD-BHIVE farm on CubFinance the APR is 47.66%. Much better than on PolyCub right now.
I appreciate your response. Can you help me to locate the detailed tutorials on converting HBD to BHBD and HIVE to BHIVE? Please.
Are you familiar with CubFinance and BSC?
If not, more is needed.
Otherwise, to wrap HBD and HIVE as BHBD and BHIVE, you use this site by Leofinance.
To wrap HBD as bHBD, choose bHBD from the list.
A new tab will open. It will ask you your BSC wallet where to send the bHBD (normally your Metamask wallet, unless you use another wallet). Also, you'll be asked the amount to wrap, and after you click Transfer, your Hive account. There is a fee (the page says 0.25%), and the transaction will go ahead pretty quickly.
Same for bHIVE.
Thank you so much, really very very helpful. I appreciate it.
The bigger my stack gets, the less I worry about the speculative boom/bust cycles.
All that matters is sustainability - Something we have right here on HIVE thanks to our decentralised network.
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Yep, that's how I feel too. In the long run that's the important thing - sustainability. But before we reach this level of understanding and, maybe I can say even comfort, it's important to remind people who haven't gotten there yet to not give up too soon. Maybe draw some parallels.
Yes, I don't mind bear markets at all now that there is so much to do on hive. My only dilemma is whether to collect high interest on HBD or buy hive lol
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That's a good dilemma to have, lol. Personally, I've chosen to go for HIVE for the time being and switch to HBD at a later time, when conditions change.
I'm working on both. I will hit my HBD goal of 3000 this month.
Nice!
I love this post. You couldn't have said it better. I am one of these who have miss calculated both the bull market and the bear season as well. I'm paying for that now, but I agree with you. These bottoming phases are so hard, but at the same time represent such an opportunity for the next bull market.
Thanks, man! We've all done our share of mistakes. Sometimes it's better to not overthink things, especially when we talk about markets. I lost some great opportunities doing that.
If it's just about 'how much' (like for a lot of people) as opposed to just buy & hold then it's sad. But like me, I don't worry about how much rather the market is bear of bull, I buy what I'm going to buy, I spend what I'm going to spend & I get what I can.
To me that's the difference. I've seen my portfolio value @ over $10,000 at one point in time & now it's much less. But what I see is the opportunity to get more.
As for living off of the crypto, while that would be nice, right now with what I hold it's impossible. I live in the US and if a token is valued @ $1 then that's it for me. Now for those who have larger portfolios with tens or hundreds of thousands of crypto, they have a shot at living off their crypto. That doesn't bother me as I know that as long as I keep building, one day, I'll be able to do that to. I build & hold for the future.
However, there has been times when the crypto I do hold abled me to purchase other things like when ChiFiBots held their presale, I was able to get in on it by trading my crypto. If it had not been for my crypto, I would not have been able to do that as I did not have the USD to bring in to the blockchain at that time.
So, those who jump out just because the market is bear are really just hurting themselves. If you wait it out, the time will come when you're up again and maybe even make a little on your investment.
!CTP
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Yes, pure holding and growing our stakes through whatever type of market is an easy way to not be affected by price swings.
Well, I think there are people on Hive who are not millionaires and live off crypto at least during the bull markets. So, it's definitely possible.
I haven't started using my crypto for this purpose, but at some point, I'd like to be able to live off it.
Yes, I would like to live off it too, but my point is there are average people in countries where the USD is a lot of money so it's possible for them to pay their bills and eat with just a few hive. I think it's great that they can do that and will definitely be happy when I can.
There are certainly differences, of course. Even within the same country. But I've seen people even in developed countries living off crypto at least in the bull market.
Of course, at 10k in the bull market, the focus should be to grow that, not to spend it. I have the same focus at a higher amount. The goal is that one day the crypto assets will generate enough income (mostly passive), that living off them won't shrink the principal invested, only spend from the interest.
That's my goal as well!
That's my goal as well!
In a bear market, I think we need to be nimble, knowing what to housekeep and what to hold on. Once market turn for the better, those that we hold on to, will give a strong foundation to charge into bull market.
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Exactly. Restructure and grow what you focus upon.
I wasn't here for the early years of STEEM but I do know that the bear market is the perfect time to build. It's a slow process but 1 Hive will still be 1 Hive. So prices doesn't matter as much and I can wait for it to rebound.
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It takes a change of perspective to think in HIVE. Most people are still attached to dollar prices and will look at HIVE or any other volatile cryptocurrency through those lenses. All that you said is true, of course.
Now I am curious about how the Bull market will affect my psychology. If I am bullish in the midst of a bear market, I wonder how will my emotion change once the bulls start raging.
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Hmmm, sometimes the bull market can be more problematic than the bear market for people who can't handle their positive emotions well. That's because they don't take profits when they should. I am one who handles bear markets better than bull markets so far. It's my goal to handle this next bull market much better than the previous one.
I don't know why bear markets are easy to remember. After suffering a huge loss in 2015 in the stock market, the next 5 years are quite good. Last year, I was caught unprepared. I thought the bears were already done with their task. That's the time my interest shifted to crypto.
These huge turns in the markets always catch us off guard, because we can't predict them precisely. But what we can do is prepare for the inevitable time when the turn will happen well in advance.
I hope we're doing good this time. 😄
Very happy with the bear so far!! I cant imagine paying top prices for crypto and nfts right now.
Yep, the best time to buy and grow!
Great post. Now is the time to build your positions in crypto. Thank you for sharing.
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Exactly.
!BBH
!ALIVE
!CTP
P.S. Came here from ListNerds
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@gadrian! Your Content Is Awesome so I just sent 1 $BBH (Bitcoin Backed Hive) to your account on behalf of @bradleyarrow. (11/50)
@gadrian! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @bradleyarrow. (5/20)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
