Alt season is slowly starting
Every day is starting with an excitement. We all want to see some cryptocurrencies pumping hard. It appears that Bitcoin is in a good position and giving way to the altcoins. As said by many people the alt season is slowly starting and all we need is liquidity to book some profits. Whenever the price is very low I will not have any stable coins to sell and when the price is high I will have a lot of stable coins with me but nothing liquid for me to sell. This can be because I exit too early and don't act according to the market trend. I understand that it is hard to predict the market trend but at least this time I have to be a little cautious.
Many cryptocurrencies have shown great growth in the last few days. Initially, only BTC was pumping hard and some of the altcoins had a decent pump. Two days back XRP had a very good pump and now other coins have increased in value. Today I noticed a huge pump in the price of TRX, IOTA, XVG, LTC, etc. These are all some of the old folks still in the market. One thing I feel sad about is that Hive is not even in the top 100 position in the list of cryptocurrencies. Hopefully, we get more visibility and advance to a better position soon.
Liquidate to book profits
Some cryptocurrencies are pumping and unfortunately, we may not have any liquid funds to book our profits. This has happened to me in the past. Even with Hive, this has happened. I haven't been able to book my profits because most of my Hive is staked. I have never done a power down so far. But this time if the price of Hive hits over 1 dollar, I will power down and book my profits. The power down is slow on Hive so it can take some time to get a decent amount of funds powered down.
It does not mean that I would be willing to sell most of my holdings but I would like to book some decent profits so that I can buy back when the price is again better.
New opportunities in the crypto
Right now it is a tough time for a pump because there is no big trend going on like NFT or tokenization or DeFi etc. The market is very normal and people are also somewhat cautious about where they invest their money. Despite all this awareness, people are still investing and some of the altcoins are seeing a movement. I see this as a great opportunity. I also see gaming as the next big thing in the market and hopefully, we will have the next big trend in the form of gaming in the crypto industry.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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Though I entered the crypto space at the peak of bull market in 2021 and the price of tokens suffered huge drop, it appears that I didn't feel the loss unlike the first time I entered the stock market in 2015. I hope to see a bull run this time.
I'm still not very bullish on hive mainly because a year ago we were above $0.50 to me that still looks like a negative win compared to others that are above their marks from a year ago. I think it's all about perspective and many people have a day to day perspective on crypto lol
The importance of having liquid currencies, we all been there. I have a little liquid HIVE but missed yesterdays Spike. Lets see what the next days/weeks bring.
It’s time to get our bags ready
No doubt!
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Someone predicted, we may likely go till 10$ :) I will power down and keep most in HBD, to earn interest as that is the most stable earning.
The price may decrease as it increases, so you have to sell at the right time. You should not expect much profit.
It's all about finding the right balance between holding for the long term and knowing when to take profits.
The market's unpredictability can be a challenge, but staying cautious and seizing new opportunities, especially in sectors like gaming, could pay off.