Hey All,
We all in the crypto space don't like our favorite coins to be in red & the worst part is when they have been continuously falling for last couple of days. Just have a look at he price of #HIVE for the last 7 days; picture taken from coingecko. The point here is that #HIVE token has been falling from $0.30 cent and is now about to breach the $0.25 cent mark. Is this the golden opportunity for the HBD holders to convert their HBD for HIVE?
I have been building my HBD [HIVE BACKED DOLLAR] account for quite some time now. My short term goal was to reach 5K+ in HBD account. This is screen short from past where I had Sold 500 #HIVE to receive 200 #HBD and now if you do the same exercise you are going to just get 128 HBD and the reason being #HIVE price has declined since then.
The big question is whether to take advantage of the declining price of #HIVE now or to wait. Currently, I have over 4K+ HBD in a savings account, earning a consistent APR of 20% without any risk, as this APR is provided by the HIVE Blockchain itself. It's difficult to predict whether #HIVE will decline further or bounce back, as market predictions are never 100% accurate. Therefore, one should make a decision that best suits their strategy.
To be honest, right now I am tempted to convert some of my HBD to HIVE. However, I'm also considering the possibility that there is still room for the price of #HIVE to correct, and I should wait before making a move. One thing is certain: if #HIVE falls below $0.20, I will definitely swap over 2K HBD for HIVE. So, I do have a plan for that scenario. As for the remaining 2K+ HBD, I need to decide whether it's the right time to convert now or if I should keep it invested in the savings account. Given the overall declining trend in the crypto market, I have a gut feeling that we might see a further bear market in the near future. That might be the right time to take action. Until then, I'll try to convince myself to adopt a wait-and-watch approach...cheers what are your thoughts on selling HBD for HIVE at this moment?
Selling Vs HOLD #HIVE? Are you building your stake here on the HIVE platform? What are your thoughts in general for HBD in savings? Are you stacking up HBD or converting HBD to HIVE? What's your overall strategy for HBD looking like? What are your general thought around the platform #HIVE? Please let me know in the comment section below...
#hive #liquid #hodl #liquidhive #hivepower #hbd #defi #apr
Image Courtesy:: pro canva, coingecko, peakd, hive.io
Best Regards
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've an interest in Blockchain & Cryptos and have been investing in many emerging projects..cheers
