On Powering Down and Crypto Trading
I did it. 13 weeks of powering down and it was a long process to get Hive from staking. As a user, I think it's too long, but from the point of view of security and preventing hacks, I think it's genius. This process makes it doubly difficult to get other people's liquid Hive. Simply put, bad actors in the blockchain will have to wait for 13 weeks to get their dirty hands on our hard earned Hive. It's nice to have that sense of security even if you don't visit your Hive account regularly via this time lock mechanism.
As I've said before in my previous posts, the powered down Hive was going to go to my offline gig that I was planning with a friend, but that hasn't materialized yet, so here I am. Using the liquid Hive to get more Hive is a no-brainer. Cryptp trading is fairly rewarding. Still, you have to know the basics, such as: support and resistance, supply and demand, and maybe, one or two indicators that you can use as a guide to at least see where the market is going; NOT to make decisions based on them alone. Indicators are trading tools that we should take advantage of but we also need to rely on our own ability to analyze and research. That way our decisions won't be based on some obscure indicator that we learned about by watching a few videos on YouTube. And, on to our main topic for today...
HPUD and Account Growth
We have already gone through 1/3 of the year. How time flies. My goals have not changed as I've made it my goal to accumulate as much Hive/HP as I can for this year. I've been on the blockchain for a few years now and I haven't really focused on this aspect of the ecosystem. Account building had been at the back of my mind for a long time now, but I haven't really had the time nor energy to dig in and work on it. So, for today, I'm going to power up 500 Hive to kick off the month. I also plan on powering up regularly to slowly get back to accumulating HP and getting my vote value up again.
Thinking about the future, I can see that it's going to be a good year despite the geopolitical situation in the Middle East, the continuing war between Ukraine and Russia, and the ongoing tension in the West Philippine Sea here in Southeast Asia. Personally, I believe that HP growth should be one of the goals that Hive bloggers must build up to become more successful, especially if content is the main strategy. Comparing it with Hive "gamers" who play Splinterlands or even the Dcrops farming game, bloggers "earn" from creating and curating content. So it's only natural to build up that part of your Hive account as well.
Coffee is life; Trading is My Main Strategy - for now ☕️☕️
Hive price just went down so it's a good way to accumulate since it would be bad to stack up while the prices are sky-high; of course, getting it at lower price means that there is more upside to it. The reality is that we don't really know when a coin or token will rally and buy-low, sell-high really makes sense if one is trying hard to make a profit.Still, buying it while the price is going down involves some luck and good observation skills. We don't really know when the price action will find a stable support. And that's where our powers of deduction should kick in. DYOR seems fairly straightforward, but it isn't.
And there lies the rub, no one really knows what's going to happen on the right side of the trading chart - the blank space after the last candle. The solution, at least for me, is to prepare for different scenarios. What happens if it goes up? Down? Or just quietly goes sideways until the next big movement. Finally, don't put all of your eggs in one basket. I've said it before to friends and even here on my blog. That said, I'm hoping that what I'm doing is right and my account goes from below 1,000 HP to 10,000 HP. 🤞🤞🤞
Conclusion
And, that's it for today. I figured that this will be a short update and HPUD post. I was wrong. LOL. Wishing everyone a good, solid, and lucky Hive Power Up Day!
Love and peace.
@juanvegetarian
*Here's the Canva template 1 and Canva template 2 that I used on this blog post for your reference. Let's support creators on Canva also.