Source Pixabay.com
If we disregard the mess that happened on Solana recently(a hack of a digital wallet phone app on Solana (Slope) led to $4-$5 million in losses from over 9,000 unique wallets), not much is happening as we speak on the crypto market (of course except the continuous work going on on Hive, the launch of LeoFinance Threads, the upcoming launch of the Spk Token on Monday and many more). Maybe there are some other important things happening but they didn't appear on my radar yet as I'm spending most of my time lately mainly on the Hive Ecosystem and related projects.
Overall, we're at over 1 trillion market cap which is good because any drop below a round number triggers an avalanche of pessimistic headlines in the mainstream media and social media. Leaving BTC on the side, ETH seems to be doing ok, but it remains to be seen what happens in September when the Merge is expected to finally happen.
Linked Source
The Fear & Greed Index is still at 30 and I think that after many months where the index seemed to me too pessimistic and scary for the market situation, it is now more balanced than we might be led to believe by the continuous green of the past 30 days of prices going up. As long as there is no massive volume and significant stable moves, the most correct zone is fear-neutral regardless of the progress made by most crypto projects.
Image source here
It is September that has been the worst reddish month for Bitcoin since its inception. History always repeats itself to a point. Should 2022 with major inflation and recession be the year things are different? I'm skeptical.
My hopes are not too high for anything good to happen, except for all the great work being done on Hive/LeoFinance/Spk Network. I know it's just the beginning of August but I wish I could snap my fingers and see the end of September already gone.
A friend told me that he likes the current Bear Market because unlike the past one (myself I wasn't really invested at that time with any serious amounts), he feels much better prepared, and this was never more visible than now when both stocks and crypto are in a little Wonderland if I can call it that. 3-4 years ago there would have been serious FOMO on increases of 40-50%+ in Altcoins, now he, and most or many other people are just waiting for the spikes to sort themselves out.
Source Pixabay.com
How can you be any other way than in waiting mode when the FED says that there is no recession even though there are two quarters with negative growth because "the job market is good" and not a week later two of the largest employers in the US, Amazon, and Walmart lay off thousands of employees? Talking about crypto? These are just two that came to mind, Coinbase cut 18% of its workforce in June, and RobinHood cut 23%. So what will you do? Are you betting on the words of a highly politicized institution in the middle of an election process or on the actions of companies operating in the real economy?
The key word in a Bear Market is PATIENCE, there is even a saying in my country that I think exists all over the world, Patience Is a Virtue! But, it is often more complicated to see that you're sitting on the sidelines in stablecoins and everything goes up than to be already in the market and continue to go down. With the investment I have in Hive such swings don't matter too much for many reasons, but I do plan in the near future to save some liquid Hive and HBD so I'll be able to take advantage when the swings or the so-called Korean Pumps appear.
Source Pixabay.com
My personal objective for this bear market is quite clear: patience, DCA, and accumulation, NOT TO dive head first as I have done before but accumulate crypto in projects that I really believe will have a future, number 1 being Hive and about many others maybe I will write a more documented article in the near future.
If you want to delegate Larynx to my Spk node that is up and running since March 9 2022, you can do so on the account @carloaxie which you can find on the official Spk monitoring list!
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