Would you believe it when I say there is no bear market going on in Crypto? I guess it is all semantics. But as I was doing research this morning to do my Leo post I came a cross this little tib bit from Will Crypto Ever Recover Or Will Winter Last Forever?
There was this statement:
"Crypto doesn’t have such a long track record. Bitcoin was invented in 2009, and it wasn’t really until 2017 that it started to generate attention in the mainstream. Over that time, bitcoin and the rest of the crypto sector have already gone through multiple boom and bust cycles.
So given that bitcoin still has another eight years until it can have a beer, does the past give us any clues as to when the current crypto winter might be over?"
The take away? Crypto is not old enough to have a bear market. So the proper term is to call it a Winter as most people do and now I know why.
Here are two takeaways from this article:
"According to crypto investment manager Grayscale Investments, crypto winter only began in June.
The average crypto winter lasts for four years, which means crypto may not recover until 2026."
So what do we do? We keep shovelling the snow. lol
Seriously though most everyone that will read this post are on Hive. So we concentrate on Hive. And yes I keep referencing @taskmaster4450. I do this for a few reasons, to me he seems to know his shit really really well, he inspires me, his posts educate me.
Hive Infrastructure Expanding: This Is How Decentralization Takes Place.
He keeps talking about what we have, where HIve should go, etc. And boy he makes the future look bright. And it is. The only winter Hive is experiencing is red candle sticks. Everything else is the hottest brightest summer you will ever see.
As I have said it previous posts and Task reflects in his post the only truly decentralised blockchains are Bitcoin and Hive. And what one do you think has the most use cases?
Back to the article I sourced above for another quote:
"The past major crypto cycles in 2012 and 2019 lasted an average of four years from peak to trough. Given that the current crypto winter only began over the past few months, this could mean that we’re in for a long winter."
So if your only concern in crypto is price you better bundle up. Cut a lot of fire wood and get your snow suit well put on.
Here is another article from Forbes Winter Is Coming, Here’s How To Weather A Recession.
Some advice in here for business and it can be applied to what we do on Hive, as each one of us, I believe, is our own business. For me it is me. I am selling my self. Call me a Hive slut. I have no product, nothing everygreen, I am selling my positivity my brand as Mr. Positive. That is my business. For now anyway ;)
So what are some things that Forbes says we can do that I agree with.
"1. Make Customer Retention A Priority
It is well known that attracting a new customer can cost five times more than retaining an existing one. In fact, increasing your consumer retention rates by just 5% has been shown to in some cases boost profits by 95%. With these statistics in mind, it is imperative to prioritize customer retention and nurture your relationship with your existing consumers."
How can that apply to me on Hive? What that is telling me is that I have to put in 5 times the effort to get new people to follow me, upvote me, engage with me. If I keep showing up everyday, keep posting everyday, keep engaging everyday with the people I have now, I have nothing to worry about.
There are other ideas there but this is the one for me in my current situation. Read the article others may apply to you.
Seeing there is no Bear market in Crypto lets have a look at the coming recession and how, from a Canadian perspective, it will not be as bad as others. As you can tell I did a lot of reading today. And you need to keep reading, educating yourself. Just happy today is a holiday and I have time to do it.
An economist explains: What to know about a recession
A recession is defined as two financial quarters of decline in economic activity.
I am going to do some quotes from the article now to show how this possible coming recession should, could, will be lighter that others.
Remember this is Canadian data.
"However, while many are worried about a possible recession, unemployment is not rising, explains Brassard. “Growth is slowing down and could go into recession territory in 2023, but we are also experiencing a record low unemployment rate, which is around 4.9 per cent.”
Canada has a worker shortage. In the short and long term this should be a good problem.
"The recessions in the 1980s and 1990s were fuelled by a combination of slow economic growth, high interest rates (over 10 per cent), and high inflation and unemployment (reaching over eight per cent in the 1980s and 90s)."
"A possible recession in 2023 would likely be less devastating than previous ones, says Brassard. “During high inflation of the 1970s and 80s especially, interest rates were very high. We still have room to use the interest rate to bring inflation back down. And, with the level of household debt we are seeing today, the government should not have to raise rates to 10 per cent to get consumer spending down.”"
So even though there is lots of bad news out there, there is also a lot of no so bad news, dare I say Good news.
The take away I am trying to give in this post is it is not all doom and gloom.
Technically there is no Bear market in crypto, the coming recession will be mild and the BIG one is Hive.
Hive is the place to be. We are strong, we are building and once all the other crypto that survive the long winter come back to spring and summer. Hive will be, well, what do you think Hive will be???
Man I feel Alive and Thriving after writing this. Eh @flaxz.
Bradley