One of things we love about creating quality content with our car reviews is that it gives us a recurring revenue! In doing so, it provides us with a living, and when we can, we have funds to buy Hive, power up and give back to the community.
That's exactly what Ben and I did today. We woke up to the news that the cryptocurrency Luna had crashed, causing a massive ripple across many other cryptocurrencies - Bitcoin included.
A look at what Luna has done in the last 24 hours
And what happens when Bitcoin dips? Well, the panic from the crash of Luna seemed to be everywhere, for so many people...We've heard really sad stories of people losing everything from having taken out loans or re-mortgaging their homes in order to invest in Luna, and to find out that it's nearly all gone pretty much overnight must be devastating.
As I mentioned before, this has even shaken Bitcoin:
A look at what Bitcoin has done in the last 24 hours
As you can see, it's on it's way back up now, but for such a dip shows how much panic there has been today...
The thing is, not only is crypto an investment, it's also a state of mind. It's also a very long term investment strategy, which is why Ben and I decided that if the markets were in such a state of flux, the best things to do would be:
Keep an eye on the situation
Keep a hold of your crypto.
Buy the dip if you can.
When Ben and I saw all of this going on, we looked to see what it was doing to Hive, and we made a decision...
A look at what Hive has done in the last 24 hours
As it had caused a dip, we decided to use a small amount of our funds to buy Hive and power up. With the dip in price giving us more, it mean that for a relatively small amount, we could give back to this platform and support our fellow Hiveans and the community, and grow our account at the same time.
We also managed to buy some more ETN - another crypto that we have invested in:
A look at whatElectroneum has done in the last 24 hours
We were lucky that we had some funding to buy with!
The long and the short of it, it's sad to see so many suffer. Some believe that Luna may recover. We don't think it will recover to the levels it had been, as a lot of confidence has been lost in Luna. Whether it does or not, I hope that those that took a hit are able to bounce back.
Take care, everyone!
Annabelle 馃槉