Rolling on a Bare Minimum and Aiming High. What Keeps Me "Alive on Hive"?!
The great depression is here. Prices of cryptos are making lows after lows and lately all the rallies that are created by the bulls seem to be failing. China is stepping hard on crypto's neck in their long time communist country and FUD is reflected in how the market behaves.
I haven't been shaken out yet and neither will I be. I've gone through a bear market in 2018-2019 and will survive a future one as well. I doubt though that we're entering any bear market. I have quite a few reasons to believe so.
First of all, according to on chain data seems that most of the sellers are recorded among the retail type of investors and those are usually selling bottoms, next we have fundamentals of cryptocurrencies such as mass recognition by countries such as El Salvador, Paraguay and even Ukraine.
Third reason why I believe the bull market is not over is the psychology. We haven't had a proper mass euphoria yet and no blow off top. Everything happened so slow and that's why I believe we haven't topped yet at $65,000. A mere 3x from the past cycle peak. Michael Saylor of MicroStrategy is also quite bullish and probably many other investing funds are in the same boat.
The whole market tanked and so is HIVE. Currently valued at around $0.25, 4x down from its lets say local peak and about 2.5x up from the bottom of 2020. LEO is close to HIVE in dollar valuation at about $2.4, but one thing that's clear during so called crypto winters is the activity's dropping on Hive and implicitly Leofinance.
I got to say, my feed is no longer that heavy as it used to be back when both LEO and HIVE were worth around one buck. Being a user that's living off of my activity as a content creator I've got to the point where I'm basically earning bear minimum. I am accepting all this because it was clear right from the beginning that I won't be blogging for a fixed income.
Being able to pay the bills and what comes to sustain my ass in this world and earning around $150 worth of tokens a week is definitely not something to get excited about, but when I joined the Hive camp it was clear that I was expecting some rafting to and not just picnics under the warm sun...
I haven't fallen to depression and luckily I can manage to make myself a side income from tourism in my area this summer, but I sure miss the good old days of $1 HIVE and $30-$40 post payouts. I am confident that those days will be back and that the bull market is not over for the above mentioned reasons, but for the moment I'm earning for a bare minimum living.
Interesting is that @tobetada has posted a few days ago about a chart showing HIVE could dip as low as 20 cents and climb once again as high as $2-$3 as a cycle peak. He also mentioned a potential peak target of $10, thus everything is possible.
He's not the only believing that the bull market is not over and honestly, I will believe the bull market is over when I'll see most of the alts painting a chart similar to DOGE. Until the it's chopping season and an upward trend that's not over yet imo. Not quitting anything and not panic selling. Have a great Sunday folks and see you to the next post.
Thanks for attention,
Adrian
Posted Using LeoFinance Beta
I think we are still a little while away before a bull run and it wont fully occur until August. July will be a hard month to get through for crypto. But smooth sailing a head
LOL I dont consider 60 days to be a while. That is short-term in my view.
Posted Using LeoFinance Beta
Alot could happen in 60 days, like Elon making another tweet :(
Posted Using LeoFinance Beta
I am with you. I dont think the bull is near over. We are just going through a lull. The development is still taking place which is vital to the long-term success of what we are building. China is causing problems with the headlines but it is actually a good thing long term. Spread this entire situation out even further.
There are many countries that will see the opportunity and get involved. This is going to keep the path going higher.
Of course, the route to $100K BTC might have to go through $20K.
That is the joy of the markets.
Posted Using LeoFinance Beta
I wasn't expecting to see BTC at $20k anytime soon, but I believe we have high chances for that to happen.
Posted Using LeoFinance Beta
You are certainly going through a bad time. Personally, I think that staying in #hive will be an alternative to see closely the growth and development of cryptocurrencies without losing our essence as content creators.