BORED!
September is THE WORST!
Been pretty burned out lately and took a week off from posting. Ready to get back to it, but what to write about today? Everything is so boring. Or maybe it's not and I'm just not looking (or willing to look) in the right place. These things happenzes.
I noticed we got a nice dump in the market yesterday and I was like here we go now we're talking! Of course I don't actually want the market to dump but I am placing a small bet to that affect (which is nothing compared to my total holding). I was even thinking about buying back in yesterday but decided against it: stick to the plan. Plan was always to buy back at the end of the month, not mid month right when the dumping starts.
Of course the dump then turned into a classic poop-and-scoop reverse bart-simpson and I have to wonder if that means something. Did we just get the signal that the market is fully rock-bottomed out at $25k and it's only-up till Christmas? Would be nice, but for the most part I still think the market needs to capitalize on that fear-factor of $22k-$24k BTC, right under that $25k mark.
Then again if institutions like Blackrock are actively buying in the background they have enough money to basically set whatever floor they want. I mean honestly why wouldn't they buy in and frontrun legit every customer they're about to service with a spot EFT? There's always the chance they already have enough on the balance sheet considering other companies like SpaceX have dumped everything, but also the lower it goes obviously the more tempting it is to add moar.
It's always boring consolidation periods like now that everyone should be slowly buying in but rarely anyone does. Then price bounces up 30%-50% and everyone gets that FOMO all over again. The emotional exploits of the vampire are strange indeed.
The Plan!
I've almost got 4000 HBD saved up which will be a lot of what I'm dumping at the end of the month. The only question is will I be dumping it for Hive or BTC? Embarrassingly enough I didn't even count BTC as an option, but then I realized it's probably the smartest thing to do considering the situation. Bet on BTC to outperform until the end of the year: then dump it into Hive (if the price is right) or right back into HBD. Hell, maybe I'll even take advantage of the 20% yield while it's still available... but lets not wonder off on that tangent for the millionth time.
Convenience is king.
Trading HBD for Hive and just holding Hive is certainly the easier thing to do. Atomic swaps have a certain satisfaction to them. I honestly might do it just because I can't be arsed to log into a new exchange (last one I used was Mandala which is now gone RIP). Probably MEXC as I still have an account there even though I only used it one time... to leverage long... during the bear market... getting wrecked at $30k BTC 'support'. Classic bear market moves.
On another very real level I just hate selling Hive even in the middle of bull market all time highs. No matter how high the price of Hive seems to go it feels oversold to me. I suppose that's a matter of valuing the network at its maximum potential rather than more logical means of appraisal. Still, decentralized social media seems to be trending lately, and once that train leaves the station there will be no going back.
A requiem for 10 cents
If Hive ever gets back to that critical 10-15 cent level I'm basically dumping everything I have into this network. That's one of the best moves I ever made the last time it happened, and I imagine it could be again if the opportunity presents itself.
The year of the maximalist continues
It's hard to imagine Hive outperforming BTC in the short (and even mid) term at this point. Certainly Hive pumps do come out of nowhere but they are few and far between, and then often result in a slow bleed downward for however many weeks later. I almost certainly don't have enough BTC, but at the same time I don't really want more either; quite the conundrum, that.
Conclusion
Rektember continues! Still bored! Hopefully I get back into the swing of things by tomorrow or the next day. Taking a week off is too long: I lose too much momentum. Gotta stay in the game to keep on top of things. Here's to hoping for a good Q4 after getting the taste of Q3 out of the crypto cocktail. Less than three more weeks to go Cheers!