We're preparing for the last part of the bull run, which is expected to end sometime in Q1 2022? 🤷♀️ This is not an exact date as no one knows when it's going to end. Only the market can tell you, when the time comes. However, preparing for it, having a good plan is crucial if you don't want FOMO to ruin everything.
I see people are thrilled with the new high HIVE has reached. So am I as growing our platform is what we all want. However not many can see the downside of HIVE mooning. We're happy to see the USD value of our wallet go up, which is good. Unfortunately when this happens, we get less HIVE.
The other downside of HIVE mooning is the massive sells that are going to happen. Quite many users are powering down HIVE already to be prepared for when the time comes.
Taking profits is part of the process. Unrealized profit is no profit, HIVE is not any different than the other cryptocurrencies, so I'm expecting HIVE to hit the market soon massively. Powering down will result in less HP, which means less curation. This is easy math, not rocket science.
What I'm hoping for is to see some of the bigger accounts buying back HIVE at a lower price and powering up, which will benefit the platform. Why I say I'm expecting bigger accounts to do this? Because most likely smaller accounts are going to turn HIVE into fiat and take it off the exchanges.
This is a natural process, everyone is free to do what they want with their tokens. However, in order for us to grow, we still need Hive Power.
Image by Sergei Tokmakov Terms.Law on Pixabay
Tribe tokens are going to be turned into HIVE, which means price will drop significantly, once FOMO kicks in. This may be both good and bad. Good for those who are planning to top up their existing bags, buy the dips and bad for those who want to sell. Some tokens will be (or are already) crushed, while others, that have a strong tribe behind them, will survive quite fine.
I'm expecting some serious disruptions, quite possible to see shortages that will result in many not being able to withdraw HIVE in time. It's happened before and it's going to happen again.
I'm still undecided on what I'm going to do with my HIVE during this bull run. All I know is that I'm not going to cash out any of my HIVE as I need it here to grow. I'm thinking of powering down some, a small portion of my portfolio, sell it near the top and buy it back cheaper, hopefully making more HIVE, to be able to curate more. We'll see.
So in the upcoming months, we can expect some crazy changes on the platform.
Some users are going to come back stronger with a thicker wallet, while others will make a nice profit is fiat, that will never come back to the platform. This is Hive's first bull run, we've never had one before as what we had on the old chain doesn't count as can't be compared with the current situation.
So, what's your plan? Are you going to take profits? Are you planning to buy the dips?
