I'll be welcoming the crypto bear market...
... when it comes!
Don't thow virtual tomatoes at me just yet! :)
I would still very much like to see BTC at 250K, ETH at 5k, HIVE at 1$ and LEO at 5$ before that happens and capitalize on the FOMO. Or at least 3 out of 4, that would still be a good success rate, don't you think?
What I mean by the title is that I need to restructure my crypto portfolio, and there's no better time to do it than during a bear market, in my opinion.
I don't have a big portfolio. Depending on the unit of comparison, it can be a tiny one as well.
By some calculations I made at the beginning of the year and which I haven't repeated at the end of last month, I have (had) around half of my crypto in illiquid assets.
Here I included HP, second layer HE tokens (which in majority I have fully staked), NFTs from games, staked CRO (crypto.com), and a few others that are not worth mentioning.
I will likely take the necessary steps at some point to begin liquidating some portion of these assets in preparation to move them to stablecoins.
If we will have solutions that I like and trust that prevent price decline during the bear market, I might use them instead of unstaking and moving to stablecoins.
I will probably not liquidate game NFTs as part of these actions.
From what I recall Splinterlands card prices went through the bear market pretty well. Correct me if I'm wrong please. dCity didn't go through the bear market so, even if different nuances apply, I'll probably take the same decision for both.
That move to stablecoins will gradually be from liquid assets as well, but a little later, as nobody can predict with certainty when the market will turn.
Then, if the bear market repeats to some extent the pattern from the last one, when it gets much lower than the peaks we will reach during the coming FOMO, I'll re-enter the market, and hopefully this time I'll be able to have a better rate of liquid or semi-liquid assets to illiquid assets, while increasing my portfolio too, because I would be able to buy more tokens at lower entry prices.
This looks like a pretty straightfoward plan. But no plan is perfect and, when we thow into the mix the emotions I'll feel during the transitions and how they will affect my decisions, we'll see what happens.
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The truth is that the market is cyclic, that is for sure, the moment to catch the dip is important. I'm to much of emotional to try to time this and probably will lose more than staking continuously.
I hope you manage to 10x your value with this move and catch the right time.
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Even if I don't earn that much with this move, what I do hopefully accomplish for certain is avoid the pain of hodling through the bear market.
Maybe it won't work out so well. But then I'll have the experience of both sides (hodling and selling to stablecoins/fiat) and will see what works better for me. Or should I say less badly?
Posted Using LeoFinance Beta
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