Today we saw Bitcoin dump over 20% within a few minutes before it started to recover. Every altcoin besides an elite few were down by as much as 25% which is a quick reminder about volatility. This was literally a few minutes and the damage was done obliterating profits made over the last few months.
The ones that were not so lucky today as the volatility really shows and literally nothing is safe.
I think what stood out for me more than anything else was how little Hive was affected and showed it has some stability. Normally when this happens everything follows suit and this was great to see. Hive showing strength had me thinking if it has the strength and resiliance to hold it's value during a bear market. What I am saying is no one expects it to remain at it's ATH or whatever price it will reach during the bull cycle but rather staying up much higher in relative terms against other alt coins.
I have been reading a few articles where people talk about making sure you have the correct type of portfolio that will survive a bear market. I have structured my investments accordingly plus a few outsiders as I believe they are great projects and are must have long term holds. The main thing is many are coins that can be staked so you will be earning no matter what the price does. I have never classed Hive in that type of category as it is very different in many ways as staking allows you to earn far more than just a percentage and is more of a working coin.
The few that escaped the carnage today so far.
All that being said and done my portfolio is down over 20% today so nothing is really safe from whatever Bitcoin does. The safest place it seems is USDT when the market is retreating and why would you be holding very many. This I think is a good reminder of what can happen and when it does it is something that happens very quickly. Having a staked coin means little or nothing if you are losing 50-90% in value and why just getting out is the safest place in protecting your investments. Buy back later when you can buy more than what you had in the first place which is why we are all doing this in the first place.
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When the Bitcoin bomb goes off it is already too late and timings are going to be crucial when the bull cycle ends. History tells us whilst the price is going up and mainly when retail investors are buying the top is the time to sell.