Financial recession is real. It's not going away unless we see year 2024. And unless we get into the mid 2023, we are not going to be seeing any big spike in crypto either.
We have issue with the crypto exchanges and then issue with KYC and CBDC are burning in every nation out there. And it will only get worse as the next year comes to close.
So now that we know all the same drama during this dip phase, what are some of the things that we can do? especially during these tought times of new Covid Wave and the Crypto bear?
Let's talk about things we can do while we wait.
Build Hive Account
If you are under 1K hive power and 1k Leo Power, time to build that account is now. You would be able to buy the LP and HP for lower cost during this phase. You won't be investing much if you happen to build your account with the HBD. But every bit helps.
You can also make use of the BCH coins that you earn from the noise.app. Just convert it into the Hive. Because we all know, how the SmartBCH has destroyed the reputation and the community of BCH, so you won't be seeing 1K value of BCH anymore.
In next 6 months from now. I hope to get into the 1k HP club and same with Leo Power. I know it won't be easy so I will powering with whatever I get from the daily writing process.
Reshuffle Your Portfolio
By now you have realized which coins don't have much future. You also realized which coins would spike even if CBDC comes into the picture. Like Ethereum, Bitcoin and the other use case based crypto are not going to go down.
So make sure to get rid of the altcoins with cent based values. Stick with giants and try to shuffle the portfolio. Make sure to adjust the values in such way that it would build up your account.
You may also have to think the same for the digital assets like NFTs, in game items and the other staked assets in the portfolio. You have to learn to build your account from this point onwards and see where you go with that.
Form New Habits of Investing
I am reducing a lot of past habit patterns. I am making sure to write daily here as much as possible. This way I can flex my writing skills and also I can get a lot of thoughts out of my head.
New habit of writing the comments in leofinance community is something I want to push for this upcoming year. I know I am kind of slow with the interaction but we have some noise.app family here so going to interact with them as they know me and sharing comments with them would be fun.
I am also doubling down on the buying of the dividend stocks, delegation and the staking too. I am a huge fan of the delegation and dividend stocks. It may mean I am spending entire yeaer on the investment mindset if things go well.
It's not going to be an easy new year. As Covid is kind of in a killing mode next year and we have to be safe against it too. So stay safe, keep staying invested and keep rebuiding for freedom.
What do you think?