This is just an observation using my limited knowledge regarding markets but I think we must be getting close to or at at the bottom of the crypto market.
Here is why I think that. Over the past week, I have seen several of the projects on Hive make announcements they are running out of funds or just are not in a position to continue their projects.
Splinterlands just did a restructuring of their organization with an associated additional layoff which makes this the second or third they have performed over the past year. They will be splitting off the Genesis League Goals platform from the Splinterlands organization due to various reasons.
Even with this announcement, I will continue to play the game, invest in their gaming assets and support their projects because I think the market is at the bottom.
Also, I just saw an announcement on the PGM discord that they were putting their project on hold as well. I like this project as well and will continue to support their community and use the tipping bot since it is still working.
I have noticed a few other projects/communities where activity has fallen to a low level due to their community members or owners not continuing the engagement that was there in the past. Some of their tokens have dropped so much in price that it makes you wonder if the project will continue but with these no announcements have been made.
I believe that the worst normally happens right before a recovery and with all the fallout that has occurred, I believe the recovery will be fast and furious. It will take hold when no one expects it and is least prepared and just renew all of the excitement that was once on the Hive Platform.
I look forward to this day happening and will continue to do accumulate my Hive holdings and diversify between all of the different layer 2 tokens so that I am well position for when that time does start.
Hive Target
At the beginning of the year, I was targeting reaching 5000 Hive Power. However now that we are in the 4th quarter of the year, I realize that goal is not possible and may actually hinder my progress if I focus on the fact that I will not reach it.
I instead will focus on adding to my holdings each and every week instead. This will help me start developing a better way to create my goals for 2024.
My last progress report was August 20th at which time I had 2781.828 Hive Power. Since then, I have been able to add 87.72 Hive Power to my account. I need to get back in a rhythm to ensure that I continue growing my account on an ongoing basis and now fall to the trap or thinking that crypto is dead.
I think it is just sleeping for a bit before it awakes with a vengeance and takes off running again.
Hive Power Ranking
Since the last month and a half, I had not been creating content my account was not growing like I thought I should have been . Due to this, I thought I would have fallen a large number of positions in the ranking of Hive Power holders.
So even though I did only add 87 Hive Power to my account I increased my HiveBuzz Hive Power ranking from 3427 to 3380. I was very surprised to see this increase in ranking especially since I only created two or three posts over that time period.
The only think that I can think of is that several Hive Members are unstaking their Hive and converting it and moving it to other places. I think a lot of people are scarred about what will happen next for crypto in general.
HBD Savings Ranking
With the fall of the Hive price last August, I withdrew my HBD from my savings and converted it to Hive in the hopes that Hive would pump and I would be able to convert it back to HBD with a large profit. I did not think that it would not bounce right back and then started to worry that having the hive in liquid form, it would be easier to spend.
This past week I converted it back to HBD and moved it back into my HBD savings so that I earn the 20% going forward without much risk.
My current HBD savings holdings is 59.624. I will go back to my plan of adding 1 HBD per week from my earnings so that I continue to diversify between Hive and HBD.
My HiveBuzz HBD savings ranking is 2093. I will be moving in the top 2000 HBD Saving holders within the next couple of weeks.
Hive Received Rewards
Since I just started back creating content last week, I am just now receiving the reward payouts from those posts. Only three payouts this week. Next week will be much better as there should be a payout each day reflected in the chart. The only good thing I had going is that I continued to curate so received 4.3 HP ($1.35) over the past week for curation rewards.
As you can see I only have curation rewards in the 30 day chart with the exception of the near term post and Hive Power Up day in which I continued to participate.
I find it very interesting that the chart looks so much better with it spiking up those last few days of the period. But I know it is better to be consistent than to try to make the chart look good by spreading the posts out over that time period.
Hive Engine Tokens
Even though I continue to add to my 2nd layer Hive Engine tokens, the value of those tokens have taken a nose dive over the past month or so.
I will continue to add to my top holdings which focus on growing my top 10 holdings. Since I do not have a crystal ball to foretell the future, I will continue to add to all my various holdings so that I am diversified.
A rebound in crypto should raise all projects that are still active to their previous levels and then jump past those levels but since I am not able to time the markets best to just increase ll my holdings instead.
EVER FORWARD!!!