This is a follow up to my previous post @truthforce/cub-the-slow-spiral-down-to-30-cents-10-cents-5-cents
I expected CUB to continue to decline for at least the next month or two, but I did not expect it to decline so quickly.
When I made my post days ago CUB was at 87 cents and today has hit around 51 to 52 cents.
CUB continues to be the worst investment I have made out of all of the dozens of cryptos that I own. Had I sold my 350 ish CUB @ 3.30 price and bought back in right now I would have 2,264 CUB. Some of my other investments do continue to go up despite the market down turn or they are least hold pretty stable relatively or only crashed by 10% to 30%.
If I could go back in time and say anything to myself, it's that CUB DEFI is just lost in a sea of hundreds of DEFI projects and that I should have stayed away. I was excited for it so it would bring some attention to Leo which is on Hive. I knew better than to throw tons of money into it, I've been through the DEFI craze on Ethereum, this time I didn't put tens of thousands into it but only about 1k usd in total.
The post about Leo Bridge only have about 41 users since release is pretty alarming, I expected a lot more than that. You can have good products but it doesn't matter if nobody is marketing it and letting people know about it. A product like that, for it to have any difference in buying and burning CUB, needs to have 100s of users per day if we are to see any miniscule impact on CUB/LEO price from burns. Likely needs 1000s of users per day to actually start affecting prices upwards or whales trading big volumes(28k CUB emitted per day is a lot to burn).
I would like to see the project throw some large amounts of capital towards advertising their product, going onto big youtuber podcasts to spread the word is a cheap way to do it if they can't afford to mass advertise(I think they raised a few million Hive though when Leo had a sell wall if I am not mistaken though, like an ICO thing???). I've seen some of the podcasts done with the Hive community people, but everyone already is in the echo chamber and knows about Leo/CUB here, need to do podcasts and get the word out to people outside the community and it needs to be on channels who have hundreds of thousands of views per video.
I'm still hodling my 350 ish CUB for a few years most likely, might buy some more if we slide down further. I don't expect it to stop anytime soon. We will likely see CUB hit 40 cents within 7 days if we continue at this rate. Potentially hitting 20 to 30 cents by the end of the month.
The crypto market is still overbought with BTC @ 31k. 60k BTC is delusional FOMOing, and admit it, all those who kept saying NUMBER GO UP INFINITELY were wrong(just like they were in 2018 and 2013 MTGOX event!). If it is your first time in a bullrun FOMO RUN then you can learn from it, if this is your second or third time going through this you should have sold on the way up.
Only about 10% to 20% of all people invested in crypto during a bull run/FOMO can profit from it, once those 10% to 20% of people start selling it makes the price go lower and lower and all the bag holders lose out. Crypto is not something where 100% of people can make 20x to 100x gains, only the top % can, the rest hold the bags and stick to the religion of hodling. ;) The people who bought at 60k due to Fear Of Missing Out are probably pretty upset right now.
EDIT: Market has gone up a bit since then and CUB is around 72 cents as of this writing at 06/14/2021.
EDIT: Glad yo see Cub Price is up to around 90 cents. Still need to hit back to 3.30 for me to break even ;)
