Hello Hiveans! I hope you are all doing well today.
It was a brutal week-and-a-half for cryptocurrency holders, traders, and investors. We saw Bitcoin go down from 30K to the 18K levels, which had now bounced up a little, and as expected, Etherium and the alts followed, with ETH looking like it was affected more than the usual.
"If you didn't know already, now you know."
I don't hold that much crypto but I still felt bad about it. I can only imagine how people who have millions invested in the crypto-space must have felt seeing the candles go from red-to-red over and over again. It was not until the "2nd day" going down that I was able to convert some of my holdings to HBD and other stable-coins but that is all water under the bridge right now. The important thing is that I already know what to do since this ain't my first rodeo, and I have a plan in place if these things happen.
One of the things that I plan on doing is to accumulate some more crypto as the market went down. As we often hear the phrase "buy the dip" thrown around in various forums and channels, it becomes real and more meaningful these days. Reflecting on the value of dollar cost averaging, it is important to note that we should be mindful of the average price when we place buy orders, until we have reached the bottom of the well.
As the market price goes down, buying the dip using a triangle strategy helps improve the average price per token; this simply means that I just place bigger amounts per buy as the price goes lower - thus, a triangle is formed.
Personally, I think this makes sense because we don't really have a crystal ball that can see the bottom bottom price for this bear cycle; we only speculate and look at the history where there were price movements at certain levels corresponding to events both inside and outside the crypto-space.
I'm slowly trying to get back into crypto. Specifically, I don't think it is such a bad idea to get more Hive and HBD. I've been in the platform for a while now and it is such good timing that HBD is now giving out 20% APR because it provides the necessary motivation for me to accumulate #HBD, as well as $Hive.
As the cryptocurrency falls down to historical levels, I think that it can be a life-changing scenario for many people here on the platform. Money doesn't grow on trees but we do have money trees that we can harvest here; through NFT games, blogging, defi, trading, investing, and more. You only have to open your eyes and recognize opportunities.
That's it for now. Keep safe everyone. Love and peace.
@juanvegetarian