A new month is here and with it, we've had another Hive Power Up Day (or #HivePUD). As always, I've made my own monthly power-up, only this time I've made bigger unch than usual.
As I shared earlier this year, I've had a goal of powering up 1000 HIVE every month, and I've stuck to it every month so far. For this month, however, I decided to Power Up what I have bought back following the recent plunge in price after the whole FTX scandal.
Thus, I'm putting myself way ahead of my Hive goal for the year (at least in terms of staked HIVE Power, although I've made way less posts) which again was to power up 1k per month.
The market seems to be bottoming out
It feels like a long time ago now that HIVE was at $2+, although it was more or less one year ago. And while the crypto bear markets usually last a bit longer than a year, I'm getting a sense that we're closing in on the bottom. Hence why I decided to pick up some more tokens.
It may be tempting to fantasize about timing the buyback at rock bottom. I'm sure most of us have at some point looked back on the price histories of different cryptos and thought "if only I had bought at the bottom of the previous bear market, and then sold at the peak of the following bear market, then I would have had so much more!". The problem, of course, is that you can never really tell if you're at a bottom while you're there, it's only obvious in the aftermath. Myself, I find it more productive to take regular scoops when I feel confident that the prize is significantly lower than I believe it will be in the future. As I believe I have done now.
Lack of posting activity is not a lack of Hive confidence
I think it's important, especially as a top witness (through @steempress) to show activity. I know that it's easy to interpret inactivity on-chain as pessimism or lack of belief about the blockchain and token. But in my case, it's been a result of the recent weeks being both busy and important to me personally. Hopefully, I will have it all sorted out soon, and can share some exciting new updates on what's been going on (it's all great news for me personally, although also a huge challenge). But again, knowing how important it is to many in our community to see people be active and positive, especially in a bear market, I felt the need to make this post sharing my power up for the #HivePUD.
I will also have to get back shortly with a handful of blog posts about my amazing roadtrip in the US. It sure as hell delivered everything I had been looking forward to!
Anyways, hope you're all doing well and also have a positive start to the final month of 2022. Let's make it a strong finish to the year!