Hello everybody! It's a nice quiet Sunday morning and I overslept so I did not get to watch the falling price of BTC and most of crypto in real time, but that's life. Rising and falling prices are the things that we just have to live with. It's the reason we can gain profits and also, at the other end of the stick, incur losses.
That said, the value of my crypto holdings just fell around 30% or so. It's not entirely unexpected since we've been having a blast with BTC price rallying since January of 2023: That's 15 months! So, with that, I can't blame myself for not selling everything and holding value.
Heading on to Hive, I'm still not going to panic sell. Paper losses are just that, an unrealized capital loss. Meaning, you don't lose value if you do not sell. The irony of this is that the price will go up, eventually. And what we do in between will determine how much loss or profit we will be seeing in the future.
Looking at my off-chain activities. I've invested in joining a cooperative a couple of months ago. I've also tried getting a loan and bought Hive with it when the price of Hive was at 0.29 cents. Ironically, it's exactly where it is sitting now at around this range. Having bought and sold as the price went up to 0.49 cents. I've manage to slide some profits in and bought some NFT's and Hive Engine tokens with it. It's not entirely a loss for me that the markets are down. We just have to wait now for the price to find stable support levels and buy some more Hive.
Going back to the loan I made with the cooperative, I tried out a small amount (around US$80) and was able to buy around 265 liquid Hive with it. The loan is payable in 6 months, but I can choose to pay it sooner. At 5% interest for the 6 month period, I have earned more than the interest from crypto trading, etc. It's a nice source of funds, especially with the low interest rates and flexible payment options. Plus, I get to earn interest on the share capital and savings, which makes this a favorable loan instrument versus credit cards, fintech loans or even from a bank. I'm planning to open a business this year so having different sources of funds open will come in handy, especially with the uncertainty surrounding us all around.
So, that's my blog for today. I wanted to keep it short and sweet, but I still managed a few more words than I would have liked. Anyways, wishing you all a restful and enjoyable weekend.
Love and peace!
@juanvegetarian😎
*I edited a template from Canva for the image I used in this blog post. Here it is if you are interested ---> Image 1.