The best remedy in a bearish market is to keep increasing your staking because Hive is currently at its all time low value and it may take a long time for it to reach a good price again.
In such a situation, why not continue building our Hive Power? With continuous staking, our quantity of Hive will increase and after some time when the price of Hive rises, you can sell it at a better price.
My strategy plan has now changed in this bear market and I am thinking of staking on a daily basis. Whatever Hive I accumulate I will keep powering it up and continue increasing my stake.
Now, many people may ask what the benefit of increasing this stake is. Yes there are definitely benefits. The first benefit is that you continue receiving inflation rewards which are around 4.69%. This means that on a daily basis, your Hive Power keeps increasing according to this APR.
At the same time, since your stake is larger you can earn around 8–9% rewards through proper curation. Combining both of these you can receive around 12–15% APR profit. In my opinion this is a great opportunity to increase your quantity of Hive.
I think with this method your will have more earnings as compared to keeping in #HBD savings. You will earn only 12% APR with no capital appreciation.
Also as your staking power grows, your influence within the ecosystem also increases. People start noticing you, following you and your followers begin to increase. Your circle of friends also grows and through your curation activities you can support new users as well which is a very positive thing.
Keeping this in mind I have currently increased my Hive Power from 45,000 to 45,452. Today, I completed two partial power ups, as you can also see in the screenshots where I powered up 69 Hive and 42 Hive. As a result of these two power ups, my stake has now reached 45,452.
My approach is to reach 50,000 Hive Power very soon. If only I do not face any financial needs or unavoidable circumstances I will continue increasing my stake.
However sometimes people face financial crises or personal financial requirements and in such cases, it becomes necessary to power down a partial amount and withdraw funds.
But unless there is a real need I will keep increasing my staking power and continue following this strategy during the bear market because I believe it will benefit me in the long term.
Keep staking and build your HP...
I hope you guys will like this post and is interesting as well. If you find it informative then dont forget to give me a support. Share you reviews in the comment section below. Thank you all for your time reading the content.
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