What a day it was for the markets yesterday! What we should remember when we are on either side of a trade either in thought or in fact is that for every token, coin, asset, or share that is sold, someone buys it and vice versa. Which means that, unless some automated action got triggered because the market got too volatile on the short term, and the holder didn't have time to adjust the limits (or forgot about them), someone thinks the other way around than you do, at least on the short term. Otherwise, the liquidity in the markets would be minimal, if everyone thought the markets go in one direction.
For example, I do believe the price of HIVE we had yesterday was very good for buyers. Hopefully, that was the minimum, but that is not guaranteed. We might see a few more shocks before the market turns and keeps going up. As I see now, this is almost entirely dependent on what's going on in the crypto markets and the risk-on assets at large (stocks, for example). Being a small cap, HIVE will overreact in both directions, I believe.
I bought some HIVE too yesterday, but not in big amounts. If the price remains low, I might buy a little more once some HBD from savings get withdrawn (not part of the challenge I write weekly about).
At the same time, I have a 52-week challenge to add HBD to savings. It seems counterintuitive to continue this challenge given the opportunities arisen to buy HIVE cheaply. And I admit, I am a little torn about it.
Until now, that HBD challenge worked out VERY well given that the price of HIVE kept going down. But I expect this price will floor, if it hasn't already. And from that point onward, HIVE (staked or liquid) will massively outperform HBD in savings. Which will be great for my staked and liquid HIVE, by the way!
The reason why I am torn is not the timing or whether I should stop an ongoing goal (challenge) I have for this year. The reason is that I don't believe in going "all-in" from stablecoins to volatile assets, even when the timing seems optimal for that. I did it in the past, and it had always been a mistake for me. As long as dollars and stablecoins are a big thing in this world, we always need to have some stash of them, regardless of circumstances.
I hold a minimum of HBD (or stablecoins, in general) at this point. I believe that's a mistake. And the opportunities to buy assets cheaply without having the dry powder to do it shows it.
I consider anything below 1000 HBD (or stablecoins; DEC not considered as a stablecoin!) insufficient and above 5000 HBD acceptable, even without breaking them down for multiple purposes, when probably bigger amounts would be needed.
I find myself in the "insufficient" category, which is unacceptable (for me). That's why I will continue to push onto the HBD in savings challenge, even if that costs me on the opportunities to buy some cheap HIVE.
How do you see this? Would you use all your stablecoins to buy volatile assets, at what you consider is the right time?
