LEARNING, INVESTING AND STAYING SANE DURING THE CRYPTO DOWNTREND
Do you panic when the market is down, or do you see it as an advantage to buy the dip and hodl?
I'm not a crypto expert, blockchain specialist or guru who has full knowledge about the Cryptoverse, but I will share my knowledge on understanding the crypto market and how I stay sane during the downtrend.
My knowledge so far in crypto emerged from conversations on Threads, reading some articles about crypto and getting involved in some projects.
Image generated by Nightcafe Studio.
It's not easy to look away when there's a constant price drop in cryptocurrencies that were invested in, but we need to be patient, keep building, doing what we love and moving forward.
At the initial stage of my crypto journey, I asked myself: "Why must the value decrease? Why can't it keep rising?" I had no idea how it worked. I thought to myself, "If the factors negatively affecting the value are figured out, it could be fixed for consistent profit". Haha.
I realized how it works and accept whatever may come because "why worry?" Worrying won't change anything, would it? Today, it could be an 8.5% increase in value and tomorrow, an 8.5% decrease in value.
Oftentimes, when Bitcoin crashes, other tokens follow the trend, reducing in price while a few stay strong, which I noticed with $DASH @dashpay. As seen in the charts below, from the beginning of this month, November 1st to 4th, while Bitcoin dropped from $114K to $107,136.75, $DASH picked up from $47 to $128.76.
Being involved on the Hive blockchain, I pay more attention to the tokens, especially HIVE and LEO, put my earnings to use, buy more tokens and hodl as long as I have the funds. IMO, now is the best time to invest, as we can see that the value of LEO and HIVE has dropped.
Now, take a look at this screenshot from August 15th. 👇
It showed how well LEO did after a "deep dip" when its value was $0.048, as seen in the screenshot below, taken on July 22nd. Also, the value of HIVE was higher in July and August. We still have a month left to end the year, and both tokens may bounce back.
So, I had the opportunity to invest in LEO, LSTR, SURGE, TTSLA and TGLD, with a system built for daily and weekly yields, thanks to the InLeo and @leostrategy teams.
So, even if the market is down, I still earn daily and weekly from investing in these tokens with the option to auto-compound growth, which I take part in and switch my yield preference when I want.
Also, you earn a daily reward (LEO or LSTR) for delegating your Leo Power (LP) to @lstr.voter.**
When $BTC was $85,000 some days ago, some investors panicked and sold off some or even all the $BTC they had, which would have been a loss if purchased above $90,000. At the time of writing this post, Bitcoin is at $90,659.26, which might decrease or increase by the time it is published or by the time you read it.
At that moment it crashed, I wished I had some funds to invest in $BTC, yeah, Bitcoin has a successful story record, and I believe that in some years to come, its value will be unbelievable. Well, some investors have predicted that $BTC will be $1M someday, and we hope it happens.
Bitcoin picked up again to $91k and has dropped again. Hopefully, it will hit $100k again before the year runs out.
Understanding that these fluctuations in price are part of the crypto market helps me stay calm and think of the next move in order not to make losses.
Also, it's an opportunity to invest in trusted projects, buying the dip and hodling for the right time for abundance. It is said that most people who succeed in crypto are those who hodl for a long time.
Image by Arek Socha from Pixabay
What more can we do if not to keep building, investing in trusted projects and doing what we love to stay happy and sane?
If you must invest in any crypto, you need to be patient. Patience and trust in the team behind the crypto project encourage you to HODL even when the value drops, believing it will bounce back even stronger.
Thanks so much for taking the time to read my blog. I would love to hear from you in the comments.
You can also share what you're learning from the crypto downtrend, and how you're still HODLing and staying sane.
Love from @winanda. Stay connected. 🧡
Screenshots taken are mine.
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About Winanda
 | Winanda (Ikwuoma Winifred Diala) holds a Bachelor's degree in Petroleum Engineering. She embraced her passion and became a baker, recipe developer, creative writer, and food content creator. Composing songs, listening to music, and seeing movies, are a few of her hobbies. |
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Posted Using INLEO
I'm still finding it difficult to learn about the world of cryptocurrencies, which is why I enjoy articles like yours that allow us to learn as we go.
Thank you!
Happy Saturday!
It's a gradual process and I'm still learning. There's always something new every passing day. With time, you'll have a good knowledge about it.
Thanks so much for the compliment. I appreciate you coming around.
You're welcome. Have an amazing weekend.