August is still looking good. Bitcoin price is slightly above $45k, so hopefully we trade in this new range for a while without crashing below that line. The really surprising thing is that the resistance at $45k that seemed like it could have been devastating got cut like a hot knife through butter; a testament to the current mega-bubble foothills we find ourselves in.
For the most part I'm just farming CUB until these IDO deals go through. Still a bit unclear as to how much time will be in between each of them, but I'm sure no matter what there will be plenty of time after the first one to generate some major hype and FOMO moving into the third and beyond.
Best case scenario the bags in my portfolio moon one at a time so I'm able to move funds from the top back into the bottom where they will moon again. Obviously the chance of this happening is quite low, as normally Bitcoin will move up before the rest of the market, but there are some weird variables in play.
The CUB IDOs are obviously the catalyst of this strategy, but it snowballs from there. Should CUB move up in price significantly, that would push up the yield on bLEO/BNB. If the yield on bLEO/BNB gets pushed up, the price of LEO will move up significantly and synergize with the bridges to other networks.
In January when BTC was spiking x4 Hive was trading largely flat, which was pretty alarming and demoralizing for those of us stacking it. However, at the same time, this was an excellent opportunity to stack more Hive for those of us that are true believers of this tech.
If Hive continues to lag behind the rest of the market this could end up being a very easy way to make some "free money". All we'd have to do is wait for the rest of the market to spike and then buy more Hive with it. You can be sure I'll be making that play all over again if it happens to magically materialize again.
If you really think about it, Hive is a very strange network. We have a strong community here, but it's very very small. If we don't get any big investors during this next mega-bubble Hive will lag behind just like it did back in January.
Because Hive is only going to go up in price when Hive bulls get their other bags pumped. It's not like we have any underextended famous millionaires/billionaires on our side to support the price when it needs help. Even Steem has that these days it seems.
Rather, when people panic on Hive, something that has happened many times now, the price will just crash and there's no one left to pick up the pieces. However, that coin has another side as well: when everyone gets rich in a mega-bubble Hive is way more likely to get pumped quite overzealously.
Of course this is all gross overspeculation. I'm just bored and waiting for the market to get crazy just like everyone else. I do really need to rebalance my assets, but I'm not really allowing myself to make any real moves until the end of the month, and even then it's hard because I've been waiting 4 years for Q4 2021 and it's almost here.
Sometimes the best action is inaction. Again, we are in a holding pattern. Many many newbies are going to sell the spike too early this time around. Just think of all the craziness that's going to go down when BTC hit's $100k and the laser eyes hit their pointless unit-bias target. Until then try not to make any hasty decisions. Hold hold hold. Bored Bored Bored.
