Are we allowed to panic yet?
No..?
Then "WEN?
Soon.
Okay ser.
Early last month I made a big call when I decided to take all my HBD out of my savings to convert to HIVE. My thinking was HIVE was eventually going to get back to above 50 cents sooner or later. My average conversion rate is probably around 32 cents. It seems I will have to eat my words now lol. 28 cents seemed to be the bottom this cycle, but little did I know this was a bottomless pit! And so breaking the perceived bottom of 28 cents, "bottomer" went hive!
I was considering powering up all the HIVE instead of feeling sorry for myself. You know I get strong feel good vibes when I do a massive powerup. I'd inch closer to my HP target with that too. HBD target would of course go down the drain. I will just stop worrying about the targets for a while - till the market turns around of sorts at least.
But after a long chat with head clerk, which lasted for about 10 seconds - I decided (more like he advised) against the power up immediately. Instead lower my target for recovering my HBD to 38-40 cents range and keep repeating it when hive drops. Given how FUD is spreading faster than COVID last year, it doesn't seem very likely that hive will shoot up to my target of 60 cents anytime soon.
Also to spare me the thought of whether to keep hbd or convert to hive, I have resorted to doing more 100% powered up posts in a "if you don't brains, you don't have to use it" fashion!
But the FUD being spread surrounding Binance provides its own set of challenges. For a long time I have had to keep some HIVE on binance for swing trades. That now has to change. I am shifting a portion of it back to my storage account on chain. This becomes a pain in the ass...you know, having to quickly shift HIVE back to binance if there's a swing trade opportunity that pops up. Given my day job schedules, it is quite likely I will miss most opportunities, so against my best intuition I will still have to keep a good amount on hive with sell orders to ride the tide on a full moon.
The other reason to panic this market provides me free of charge is the fact that swing trades have completely dried up. Every opportunity is very risky. And that leads me to be inches away from breaking into my egg's nest. I have created egg's nest previously and I have broken it numerous times thinking I will replace it when the times are good - trust that shit never happens. Times are never good. And that is why I am dreading breaking this egg's nest _ I maintained for quite a long time, but desperate times call for desperate measures and all that.
Anyways, I think it's almost time for panic - sooner rather than later. Prove me wrong market, prove me wrong. And no, this is not a challenge but more like a plea!