Buying the Bear

in LeoFinance2 years ago

image.png


I'm not saying this is a bear market, but a lot of people have indicated it might be. It seems like everywhere I turn these days, I am hearing about bears. In fact, I just read a news story that a black bear (not the one in the picture) was wandering around a neighborhood near where my parents live. Is it a sign?

Let's say we are entering a bear market. If that is the case, I would be remiss not to identify a handful of tokens that I maybe want to keep an eye on and pick up at some bargain basement prices while many of us lick our wounds.

I've already decided that I am going to hold off on chasing any new tokens. Those are pretty much off the table. I might miss out on something really great, but I am spreading myself too thin chasing every token I think might become something big. I wrote about this a little bit in one of my past posts.

The Fiat Buys

I plan on keeping my monthly Coinbase buys intact. I do plan on doing a better job of moving them off the exchange when possible. I was really missing out on a lot of ATOM airdrops because I left my tokens on Coinbase. The Coinbase tokens are the only crypto that I spend actual fiat on, so bear or bull, those numbers will never change.

Here is the breakdown each month:

$20 XLM
$20 ATOM
$20 XTZ
$20 ALGO
$20 COTI
$20 ADA
$20 MATIC

As I look through my portfolio trying to focus on the other recommended tokens, I am struck by just how big of a hit everything took the past month. Perhaps this is a more accurate representation of where prices should be but dang I hope not.

I remember when ATOM was sitting steady over $20 and now it sits just over $10. It is definitely disheartening.

Please keep in mind, while I am suggesting tokens you might want to buy during the bear market, you should definitely do your own research and never spend more than you are able to afford losing on crypto.

WAX

I purchased the bulk of my WAX when it was at $.03. I was able to get quite a bit of it at that price and it has by far been one of my best investments. I've also blown a lot of WAX on NFTs that ended up being worthless, so it might be possible that I want to build my bags back up during the bear market.

At $.13 it is a fantastic buy right now. Before the big downturn it was sitting pretty steady around $.30 to $.50 for a good deal of time there. I still think that WAX should be over $1 all day every day. Much like HIVE, there is a ton being built on the WAX blockchain. It is DPOS so the transaction fees are non-existent as long as you have resources staked.

There is a lot to like about WAX. I have some deals in place to provide me a passive WAX income on top of the staking rewards that I get each week. This passive plan adds up to right around 73% APY, so even if I don't buy more I am still building my WAX bags.

LEO

This one probably seems a bit on the nose since I am blogging on the Leo Finance platform, but picking up LEO at $.09 is like robbing a little old lady in my opinion. Khal has built so much on the platform since the days when LEO was outpacing HIVE three or four to one. It's not unbelievable that LEO should at least be in step with HIVE if not higher than it.

Say we never reach the LEO highs that we did a year or two ago. If you stake it you can still earn from curation and other passive streams. It just feels like a smart move to me.

HIVE

Again, another one that might seem obvious, but I am honestly on the fence about this one. If HIVE were to drop down to the levels we saw a couple of years ago I would definitely consider it a buy. At $.54 or there abouts I am not sure I can consider it a buy.

Certainly if you have money to spare/spend, then it would never hurt growing your account, but unless you have fat stacks of fiat or some other token (which most of us don't) to invest, you aren't going to get much for your money.

For example, lets say I can somehow scrape together $200, that only buys you about 370 HIVE. Remember, Taskmaster just wrote a post about how smaller accounts can see a higher percentage return than bigger accounts. So if you are sitting at 300 HP and you add 370 HP, that is probably a pretty big deal. For me sitting at 37,500 HP, 370 isn't as big of a push.

At least it doesn't feel like it.

I hope the price of HIVE can hold steady at this level, but keep an eye on it, if it drops much further, you might want to make some moves.

SPS

I am not going to say a lot about this one, but sticking with the HIVE blockchain, SPS is looking really attractive right now at $.09. If you are invested in Splinterlands at all or you have even a sliver of faith in the team, you should be giving this one a long hard look. Especially considering some of the things coming out in the next year are going to rely heavily on SPS.

But How?

This is the real question isn't it? Not so much where do we go from here or what do I buy, but how do I buy something when I am ready?

Unfortunately, I didn't make all the moves I should have when things were good about a year ago. Sure, I've got some tokens kicking around that I can move into some of the things above, but like everything else the value of those dropped as well. My buying power is basically down the tubes like the rest of the market.

Although the value is significantly reduced, I do have some passive trickles that are coming in through various methods. While it may only amount to $5 here and $10 there, when you consider something like WAX (and its current price), that can still buy you a decent number of tokens over time.

Let's say you have $10 each week coming in from one or multiple combined sources. At $.13 that buys you about 76 WAX tokens. Do that for ten weeks and you are sitting close to $1000 if the price of WAX makes its way back around $1.

Final Thoughts

I'm clearly not a crypto expert, I have had my fair share of ups and downs in the crypto markets. I've made some pretty rookie mistakes and I've made some lucky investments. I'd love for this to not actually be a bear market, but if it is, I want to make the best moves possible for my portfolio.

What about you? Are you eyeing any tokens to stock up on if this is a bear market?

What is your plan? Do you have one or are you just playing it by ear?

I look forward to reading your comments!

source


Sports Talk Social - @bozz.sports


TEAMUSAhive_footer_bozz.jpg


All pictures/screenshots taken by myself or @mrsbozz unless otherwise sourced

Posted Using LeoFinance Beta

Sort:  

Accumulating more tokens is really a good idea for more beneficial rewards

Posted Using LeoFinance Beta

Yeah, I think so too. As long as you can find the funds to invest into them. It's a balancing act between finding a good position and leaving yourself short.

Posted Using LeoFinance Beta

I think leveraging few HBD every month from hive would be one nice move during this bear market.

But, having some fiat to buy hive rn is a nice move for new users.

Posted Using LeoFinance Beta

I have just been putting all of my HBD rewards into savings yet. I think anything on HIVE is a great bet right now.

Posted Using LeoFinance Beta

100%

The hive ecosystem has a huge potential to be something great in the cryptocurrency space.

We just need to keep building around everything that going on here.

Its a lot to catch up on, HBD is the most attractive aspect of HIVE RN.

Posted Using LeoFinance Beta

Yeah, HBD is pretty attractive right now. I have been throwing as much as I can into the savings account.

Posted Using LeoFinance Beta

SPS is looking really attractive right now at $.09

Team Splinterlands is keep building and I feel the same about $SPS

Posted Using LeoFinance Beta

I moved some stuff around and picked some more up the other week before the prices of everything tanked even more. It was a smart move at the time.

Posted Using LeoFinance Beta

As I was already holding expensive bags (compared to the current value) of all but COTI. I looked into COTI and looks like a unique project with a good use case.
Hence against my own advice, I bought a small bag for now. I mean the rest of your lists are all solid projects, so I want COTI on my radar.
Thanks !CTP

Posted Using LeoFinance Beta

Very cool. I am just waiting to be able to stake my stack.

I have been hearing so much about WAX too, since the beginning of my Hive journey. I even won an NFT on Twitch, but I don't have much information about the WAX community.

I'm convinced with your details analysis about the chain, but I'm definitely going to do my research to know all the pros and cons involved.

This period is the perfect time to seize every opportunity that present itself to be of value in the future.

Posted Using LeoFinance Beta

WAX is pretty awesome. It is in the top three of my crypto investments along with HIVE. It has been a very good token to me and I think it has a lot of continued potential. There is so much volume happening on the markets over there. At one time it was more NFT volume than all the other blockchains combined.

Posted Using LeoFinance Beta

Wow that's going to be a big number.

I think we have Hive games that is integrated into the Wax NFT market.

I don't know how that works but I have seen users who buy rising star packs through WAX.

Posted Using LeoFinance Beta

yeah, you can buy Splinterlands and Rising Star cards on both platforms. They are both proof of stake and were both kind of designed by Dan Larimer, so there are a ton of similarities between HIVE and any EOSIO blockchain.

Posted Using LeoFinance Beta

I thought it was only rising star.

Thanks for the info.

It just make the whole thing even more attractive to me😃

Posted Using LeoFinance Beta

Nope, I know for sure they have Splinterlands cards over there too! No problem at all. I am a huge advocate for WAX and HIVE.

Posted Using LeoFinance Beta

Nope, I know for sure they have Splinterlands cards over there too! No problem at all. I am a huge advocate for WAX and HIVE.

Posted Using LeoFinance Beta

Bear markets are where the money is made. It is the markets way of putting things on sale.

Sadly few take advantage of it.

Posted Using LeoFinance Beta

You have to have the funds to take advantage of it. I think that is where a lot of people get held up.

Posted Using LeoFinance Beta

Thanks, there are some pretty good tips there. I am holding off right now on any altcoins and hoping for a further dip. if not I will look at buying in a month or so if I have some funds available.

Posted Using LeoFinance Beta

Some of those coins I can't imagine the price if there is another dip. We will be talking under a penny which is pretty sad for a lot of bag holders!

Posted Using LeoFinance Beta

I guess people like to get "rekt". lol

You have some really good information here @bozz. Thanks for sharing your point of view.
!CTP

Posted Using LeoFinance Beta

No problem! People are more than happy to give their opinion on anything these days! Including me!

Posted Using LeoFinance Beta

You've made some good picks here!

It's smart to be buying now, even if it's not the true bottom. It's been a crazy cycle this time, there are so new many factors and players involved.

Another coin you may want to look into is AlephZero (https://alephzero.org/) It's relatively new but the team and community are solid. I think it may end up really taking off.

Thanks for the tip! I will definitely check that one out!

Posted Using LeoFinance Beta

You're welcome! You can make around 15%apy on this by staking it too.

Where are you buying it from? Gate.io?

I mainly use MEXC. Anywhere near $1 is a pretty good entry point and I’m just holding for the long term and will stake through this bear market.

Out of curiosity, I just checked last night the price action of BTC using EWT. In my book, the bear market started last November and we are now experiencing the most frightening wave, which is Wave C.

I keep buying SPS and HIVE and adding some SPT and DEC.

Posted Using LeoFinance Beta

Yeah, I don't know anything about that market analysis stuff.

Anyhow, it's just a game of probability, not an exact science. In my chart, 28,189 is BTC's 61.8% fibo retracement. That is expected to give strong support. In case, it will break down, the next base will be at 17,145, BTC’s 78.6% fibo retracement. Indicators like these are useful in stock trading. I am not sure if the same tools are applicable to crypto.

Interesting!

Some great insights and perspectives! Leo is definitely a steal!
!CTP

For sure! I am trying to decide when to buy my next batch.

Posted Using LeoFinance Beta

I hold ATOM, XTZ and COTI as well. See you at the peak ;).

Posted using LeoFinance Mobile

There is a lot to like about WAX. I have some deals in place to provide me a passive WAX income on top of the staking rewards that I get each week. This passive plan adds up to right around 73% APY, so even if I don't buy more I am still building my WAX bags.

What are you doing with your WAX to get that APY? I don't think the staking APY is that high right? I thought it was at most a few percent

I plan on just watching for now and I don't really plan on buying the dip anymore while the trend is pointing downwards.

Posted Using LeoFinance Beta

I delegate CPU out to a person that I met through some contacts I have. I get to retain custody of the WAX but they take advantage of the CPU. My guess is they are probably running a bot farm, but who knows. It's 73% return! :)

Posted Using LeoFinance Beta

I guess it would be a "business expense" but that is a sweet deal you got there. Do you still get staking rewards when you delegate out your CPU?

Posted Using LeoFinance Beta

Sure do!

I am accumulating as fast as I can at discounted prices. Buy low, sell high. Isn't that how it goes?

Posted Using LeoFinance Beta

Assuming you did it right yes 😀


The rewards earned on this comment will go directly to the person sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.