Time seems to pass differently in the world of cryptocurrency. I'm sure there is a lot of disagreement as to when the current bear market started and even more so around the predictions of when it will be over, but sometimes I just can't but feel that we've been in it for ages. Like, literally, multiple years.
That is, of course, absurd, and I don't want to give the impression that I'm bearish (although, isn't everything bearish right now?) or pessimist about the future of crypto, but that's just how it feels for me.
Maybe it has to do with the fact that I'm relatively new to crypto, and this is the first bear cycle that I'm experiencing while having some actual skin in the game, or maybe it's just the overall state of the world in general. I don't know, but I was expecting things would be a little more agitated in this universe, even (or maybe especially?) during a recession.
But enough of that. This article is not a rant on the current state of the markets, and I won't be lamenting that all charts are red or anything like that—quite the contrary.
Bear markets are for building
I've seen that all too many times. Many people complain that they are "too late to the game," and wish they knew about Bitcoin, Hive or whatever token when they were cheap so they could buy them by the bucket. Well, guess what? They are cheap now.
Sure, definitely not as cheap as 5 years ago or so, but Bitcoin, to give an example, is down more than 70% from its all-time high. If it only recovers, people who buy it now will be up by 360%, which is not a bad payday.
How many of those same people are buying, however? Not many, I would guess. If anything, I believe most of them are selling and taking away from themselves the very opportunity they claim was denied from the get-go.
Yes, there are risks and uncertainty but do people who got this far in the game really do not believe that the markets will recover?
Ever since I entered the world of cryptocurrency, I heard people say that bear markets are for building, and I decided to take the plunge and do just that. Of course, I'm not putting my life on the line and making sure I don't invest any money I can't afford to lose and also doing extensive research on the projects I'm interested in to avoid scams or tokens that are dead in the water from the very start but now that I found the ones I believe in, I'm doubling down on them.
Leo Power Up Day - Climbing up the ranks
Today we had yet another edition of Leo Power Up Day, or LPUD, as it's known around here. If you don't know what that is, it's a monthly event that happens on the 15th, where $LEO holders are encouraged to power up their tokens to have the chance of winning prizes.
As a big supporter (not so much at stake, but definitely on attitude), I couldn't miss this opportunity to help the community, so I did my part.
While doing that, I also reach the mark of 5,000 Leo Power. That grants me a new "rank" on the LeoFinance Discord, which comes with additional perks. That's a cool thing, of course, and I'm always up for some gamified experience, but the real reward is knowing that my holdings are getting a little bigger every day.
LEO is one of my biggest holdings on Hive, so it's nice to see the community coming together on this day, despite everything that's going on with the markets.
Hive is still undervalued
Of course, I couldn't avoid mentioning the base token of this blockchain. Even though I think Hive is holding its ground remarkably well during this whole thing, it's obviously criminally underrated.
The price and market volume certainly do not reflect all the development that's been happening around here, both on the base and second layers. The recent Hard Fork, which occurred very smoothly and brought a lot of critical new features to Hive, is just one of many examples.
Maybe that's not fair, and the price of Hive should be much higher right now, but in a way, I'm glad we're at this level because, again, it gives us all time to fill our bags and prepare for when things really go off.
In what group are you going to be when the time comes? The one that wishes they had bought Hive when it was cheap or the ones reaping the fruits of their decisions in times like these?
Posted Using LeoFinance Beta