Bear Market Is For Building
That's an important conclusion many have reached over time. Why start with an introduction, when we can start with almost an axiom?
That refers to both building infrastructure, upgrading and optimizing software, but also your portfolio and your presence in the case of social media.
Instead of hiding under a rock and coming out when the bears go into hibernation and bulls start running wild, one should be present always, doing its thing, whatever that is.
After a crypto winter, few people remember you, and even fewer care what you have been doing in between, if you weren't around.
Price versus Value
There is also the idea that you should stop caring about price so much. Or at least stop watching prices so often.
Because price is different from value. Value is the worth of a product or asset to you, its use case. Price is what you get/pay at a moment in time for it if you sell/buy it.
The problem is most people act as if they invented investments in the bull market, and paralyze in the bear market. And wealth is created exactly in the opposite direction.
Price is important when you sell (best in the bull market), and when buy (best in the bear market). The bolded "when" is important. It means you're only truly interested in the price then, not every 15 minutes of the day (unless you are a trader). That's where limit orders are helpful, instead of the market price.
Analyze, set, and forget. Sort of, because you might need to tweak them every once in a while.
Reevaluate When Market Conditions Call For It
Besides your limit orders, there are other things that need to be updated, and plans that need to be reconsidered when market conditions change.
Yesterday I announced a change in my Hive yearly goals, which involve postponing my HBD goal in favor of my HIVE goal, as the most significant change.
That is an adjustment of the yearly goals dictated by the new reality we find ourselves in with a deep bear market. Under these circumstances, reaching the HBD goal would have been very difficult, and it hurts my HIVE goal as well, both directly and indirectly.
Indirectly, because it was another goal to focus on, which consumed resources that could be allocated elsewhere.
Directly, because I had my post author rewards set to 50%/50% HBD/HP, to receive the liquid HBD.
If HBD is below the peg (and it generally is during the bear market, even slightly), you receive more HP if you set your rewards to 100% HP. That's because the HBD part of the author rewards is valued internally by the blockchain at 1$ when the payout is made.
The inconvenience is that you receive all your author rewards powered up (curation rewards too), so you won't have liquid HIVE/HBD unless you power down or if you receive it from a different source.
But I already have a stack of HBD that can provide liquidity if needed.
So, yesterday I also set my payout option to 100% HIVE Power. That practically at least doubles my HP author rewards starting from 7 days after yesterday, with the 50% HBD portion. But I won't receive any more HBD rewards.