4 Simple Question To Ask Yourself Before Investing In Crypto Token .:. WorkerBee PH-Pool Week 194
As usual, statement... This is not financial advice! These are my thoughts and my approach to investing in crypto... Not trading crypto, but investing... Investing is a bit "relative" term nowadays as sometimes people think of investing as buying an asset and HODLing it for 10-20, or more years... For me, investing in crypto is holding an asset for at least 1-2 crypto cycles, which would be 4-8 years... Besides charts, tokens data as supply, inflation, minting, list of top holders, etc., I will share a couple of "rules" that I try to follow regarding investing in crypto...
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Is it uncomfortable to buy?
Let us begin with the heavy guns... I failed many times on this question... If it is uncomfortable to buy an asset it usually means that "nobody wants it"! This isn't true as someone always buys it but it's not that visible... If nobody wants it, that means that the price dropped so much that everyone is afraid that the token will die and never come back... Again, usually, that's the sign that we are very close to the bottom and it could be the best moment to acquire that asset!
Like I said, it is very hard to buy something that NOBODY wants! But, it could pay off a lot! So, if the answer to the question is "YES, it is uncomfortable", I'm buying!
Is it in the focus?
This is kind of the opposite of the first question... You turn on your favorite YouTube crypto channel and you hear a guy screaming: "This one is an ETH killer!" or, "You need this token in your portfolio!" Then you move to another crypto "influencer" and he says the same thing... and another one too... Usually, that's the sign that the token is already on the top, and you will probably be the exit strategy for early buyers... To those who were buying when it was uncomfortable to buy... 🙂
This happens a lot when crypto goes into the FOMO phase when you can sell literally any token, with or without the use case, shitcoin or blue-chip coin... After a while, the token price goes 95% down and never comes back up to the price where you bought it!
So, if the answer to this question is "Yes, it is in the focus", I will try to resist the FOMO and wait for the pullback, or just search for another token...
WHO is accumulating them?
This one will be probably a "politically incorrect" statement... 🙂 You probably heard the terms "smart money and dumb money"... There are people who know what they are doing and they usually did a lot of research about certain tokens/assets... Usually, they are not YT influencers as they spend their time in smarter ways, but you can hear about them... and often, because of the transparency of the blockchains, you can follow their accounts and see what they are buying! If you do that, you can find some true gems BEFORE they come into the "The best token ever! BUY NOW! phase...
On the other side, you can see people who are buying tokens in masses, following YT influencers who were paid to shill some tokens... That is usually a good sign to stay away from those tokens as if EVERYONE is buying, there is no chance that EVERYONE will get rich... It could happen, but rarely for a lot of people!
Does the chart only go down?
This one is easy... If the chart goes only down, without any interest, but with heavy propaganda and shilling from the token owners, stay away from that! You are an exit liquidity and you are feeding the dead horse...
Back to the WorkerBee Pool numbers for this week...
This week we have mined 117 BEE tokens in total... Good job!
We got 1 new delegator to the pool! A warm welcome to @splintertrends! Also, we got some delegations from existing members! Thanks guys! Appreciate your support!
This week we mined 117 BEE tokens in total!!!
This POOL doesn't have fees and you get up to 20% MORE by delegating to it!
What about the bonus tokens?
Halloween Mission is the newest addition to the Rising Star game and every update pushes the price up... In a few days, there will be a new month, which means new cards! And that means, heavy Rising Star NFT collectors would like to get them... And to get them, they will need to open a lot of packs... and that means another push-up... Of course, that's only my speculation about the near future price of the STARBITS tokens... It could happen, or not... Personally, Rising Star is my favorite blockchain game and I accumulate cards and tokens for pure fun! Occasionally, I sell some small amounts of tokens just to keep the term "play-to-earn" valid... 🙂 The team who is working on the game is amazing and they are doing a great job! It's not easy to develop, maintain, and add new features to the game throughout the whole bear market!
There will be distributed 1.4 million STARBITS tokens to the delegators of the pool as a bonus reward today!
As always, in the end, let's give the exact numbers for this week... 117 BEE tokens and 1.4M STARBITS tokens will be distributed as a bonus... The APR (without the bonus) was 9.057%, and when we added the bonus it went up to 10.909%!
I have calculated the ROI approximately with medium prices for all tokens at the moment of creating this post... So, those numbers are valid if you bought WB and sold BEE tokens at the middle HiveEngine price...
Do you want to sponsor the PH-Pool with your tokens, receive a short SPONSORED segment in this post, and raise awareness about your front-end or dApp? Please let me know in the comment section, or contact me through Discord or Twitter and we will find the best solution for both parties...
If you want to join the WorkerBee PH-Pool, the only thing that you have to do is to STAKE tokens to YOUR account and DELEGATE your staked WORKERBEE tokens to THIS account (@ph1102)! Every week you will get your portion of mined BEE tokens and BONUS rewards!
.:. DO NOT STAKE TOKENS TO MY ACCOUNT!!! Just DELEGATE! .:.
All payments will be made after publishing this post...
If you have any questions, please leave them in the comment section!
You can find more about this pool in the initial post here https://inleo.io/hive-119826/@ph1102/workerbee-p-h-ool-let-s-help-each-other
Thank you for your time,
--ph--
None of this is financial advice!!!
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Don't forget to follow, reblog, and browse my Hivepage to stay connected with all the great stuff!
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So, how do you identify the wallets of "smart money", unless you know them from the start? And of course, if we are not talking about Hive.
Well written, man, and it shows you've pushed investments to a deeper level. Particularly on how you identify opportunities.
From my perspective, smart money is more like following people who did well in the past... Trying to avoid those YT influencers who are printing videos every day, but trying to listen to those who are hated... lol... I remember well the guy who was saying how BTC dominance will hit 60% this year, and everyone was laughing at him... That kind of smart money...
Dumb money is all those who "yell the obvious", calling the moon when the price goes up, or calling a doom when it goes down... 😃
Avoiding FOMO is probably the best recipe for investing... When I began to do that, my portfolio got better... Speaking of HIVE, or H-E tokens in particular, I think that I saved a lot of money avoiding recent hypes around certain tokens... 😃
I may not be the best investor, but boy, do all of Professor PH's classes help me understand these moves. I think that if someday I have the opportunity to invest in tokens I will do it in the most intelligent way, you are a master in this, although you say that it is only your opinion, I think it is very accurate. Best regards bro!...
Hehehehe... Thank you very much, but I'm far away from being a "master"... These are just my observations from the last 7-8 years in crypto... 😉
only chart going down is not always meaningful, we had splinterlands sps sinking for a long while, now its recovering
If you zoom out the SPS chart, you will see that it didn't go only down, but it had some signs of life and spikes up... ;)
On the other side, if you take some random meme token that didn't make it, you will see how it looks when it goes ONLY down... 😃
But, I do agree that my point wasn't clear 100%... It depends a lot on the timeframe...
I don't see any reason why anyone would hold an asset for 20 years, unless they're wealthy and are collecting or saving their assets in crypto. One or two cycle is enough or at best, 3. I think crypto is meant for profiting although we're bias towards the tech
Imagine buying BTC when it was launched... and HODLing until today... 😃
Hehehe... But, I do get your point and agree with it.. 2 cycles... 3 at best...
You're right, 15 to 16 years of holding, well if we think of the profit then it might just be worth it, but then 20 years is a a long period to wait for profit. But it might be worth it for anyone who might just make that sacrifice to wait
It's really so difficult buying what nobody wants but your explanations make me understand that that period could be the best buy yet, I have learnt a thing or two.
There is a new advertisement by NIKE, that sums it all up perfectly... It says
Winning isn't Comfortable
We could apply the same here...
we are just 2 months away from the final year of the bull market, it has been a long 3 years too! hopefully everyone is well positioned by now ready for next year.
I'm still waiting to buy some tokens... 😃 I have already mentioned it, but I do believe that we have a bit more time to get some good, but cheap tokens...
Everything is looking very cheap right now, finding the quality amongst the hay will be key!
I think some people might feel uncomfortable about buying cryptos for a few years as its price might go far beyond or it might wait stable for a long time as in the recent years.
We will see what will come... A lot of tokens will go down the drain as it happened for many in the past... But, I'm sure that crypto will survive, as some great projects are taking great positions... 😉
useful questions and useful explanations!
@tipu curate
Upvoted 👌 (Mana: 4/54) Liquid rewards.
Thank you very much! It means a lot to find that the post is useful!!!
@ph1102 Thank you, I'm just getting to know WORKERBEE, but I was sure, I would like to be part of this project.
You are welcome! And thanks for joining the pool! 💪
Great advices @ph1102, Many Thanks for sharing your thoughts and experience.
Thanks for checking out the post, Xavi!
I hope you are doing well!
Thanks for the update and tokens! BTC is back to 70k! Woohoo! Haha.
!LUV
@ph1102, @relf87(4/5) sent you LUV. | tools | discord | community | HiveWiki | <>< daily
It is!!! We are rich again! 😂
😂😂😂