The first rule of crypto.
Never sleep.
It was after 3am when I went to bed last night - if only I had stayed awake another hour or so. If I had, I would have seen (as I was half watching already) that the bit I was playing with on exchange was going to get cleared well down and would have adjusted up. I probably Still wouldn't have hit the peak of 1.15 on Binance, but at least it would have been higher. As said, this is only playing with a bit, more for practice than anything and obviously, I am out of practice. :)
Back in the day, things were far easier to keep track of as pretty much, the only thing I needed to do was Hive related and exchange related. But now, the industry has evolved and with DeFi platforms, staking platforms, pools, games, rents and all the other things that I am forgetting, taking part is a full-time job, even if the return isn't.
While driving my supervisor into the city after our "wellbeing session" at a local pub, I was asking about his own holdings, as he got into a little BTC and some Alts when it was about 19K. Even though he has laddered in on the way up since, he is still happy with where he is in terms of ROI. I was saying to him though, that while I am active, the "game" has changed so much in such a short time, that I am no longer able to keep track of everything that is going on.
This is a problem. For me.
But for the industry, this is what has to happen and the more it does, the more widespread usage becomes and the more this happens, the more value becomes attached to the blockchains. With more value comes more capital for development incentive and incentive for innovation. All businesses are "for profit" one way or another and this means that they need to find places where value resides and create ways to coax the value out and into their own pockets. As more capital potential flows into crypto, the more business models will spring up to take advantage.
We have seen this process happen over the last couple decades on the internet and then through the smartphones and social networks that have given rise to a lot of innovation potential and have generated enormous wealth for many, though still a very narrow few considering that it goes to owners and investors. These are generally large institutions that benefit the most, even though they are investing with client money.
The difference in crypto of course is that ownership possibility is far less limited and smaller investors and those who might not have traditional access at all are able to get into investing and get returns that at least early on, will outweigh other options. While it is already possible for people to participate in AMM pools, these will likely increasingly be used to fund the capital needs of traditional business models, allowing for decentralized percentage ownership at a global level, without the overheads that the financial institutions incur and then inflate, before passing onto their customers.
The end of this year is getting exciting and I don't want to be caught flat-footed again, as I have many times in the past, so I guess I better learn to stay awake a little longer or, play in a much wider range than 10% like I was yesterday. as alts start to pop, the 50% climbs are going to be quite common and what I am hoping is that the fallbacks aren't going to eat too far into them, raising the floor. For HIVE for example, a fall back to 75 cents might seem severe, but it creates a pretty solid base for a move to 4 or 5 dollars around December. Wouldn't that be grand?
Is it unexpected though? Not really, at least for the eternal HIVE bulls who see a bright future of many moons to come, which is what is required to create stability. Many people are looking for the "one pump to rule them all" when what will bring the most value, is a see-sawing up and like today, there will be plenty of all time highs (ATHs) to come. 1.15 is about 8% above the last back in March, where it hit 1.04 - and if the promise of the last half of the year is anything to go by, there is more to come.
And there is always next cycle.
Taraz
[ Gen1: Hive ]