Hello readers,
After a long ongoing bear season, the cryptocurrency market has recently experienced a decent uptick and spreading some positive vibes among the global crypto community by showing signs of recovery after a prolonged bearish season. However, the king BTC is still roaming below half of its all-time high price, and the majority of alt-coins also remain 50-90% below their ATH prices as well. Despite this, we can see many individuals, especially influencers advocating for buying and holding cryptocurrencies for the long term. Well, I go by the same sentiment and believe that while we are still in the bear season, it is probably the best time to buy the cryptocurrencies that we believe in while they are still selling with a rebate and construct a valuable portfolio while the offer lasts and prepare for the golden bull days with a large bag of crypto.
If you look at the market trend of the last 30 days, BTC has become quite strong and its price has significantly increased from around 25k$ to the current 30.5k$ within a month some of the altcoins are following this trend as well, which could lead to a bull-run in the upcoming time. This current market situation gives us a unique opportunity to acquire valuable coins at relatively low prices as they are trading for right now compared to their ATH prices. I always believe in the fact that patience is key in navigating the volatile market of cryptocurrency and one has to control his emotions when volatility hits the market and it applies for both uptrend and downtrend. While short-term gains or profits are a good way to entertain ourselves, I always focus on long-term goals and strongly believe that there is high potential for significant returns over the long term in this wild world of crypto.
It’s a no-brainer that the cryptocurrency industry is vast and unregulated and anyone can create a coin or project in this space. No doubt most of the new crypto projects get dead within their first 6 months because either they are scams or pyramid schemes, or they have significant flaws in their economy, or just a useless project that doesn't create a value. So, in the crypto space, selecting the right coin or project for investment is very important or one will lose their hard-earned money overnight. Before investing in any coin related to crypto, I strongly advise my fellow readers to dedicatedly spend enough amount of time on research before investing into any coin, because whenever a new coin or project gets launched, it starts advertising like it is the project that exists in this crypto universe, however, there’s a high chance that you won't see its existence within a year. I always try to follow some basic rules like not to take hasty decisions, because time has taught me to avoid investing in certain cryptocurrencies which are comparatively new because, from my years of experience, I do know that it is not a quick and fleeting game. You can win 1 or 2 times if luck favors you, but ultimately they will win just like any gambling game. So, if anyone is interested to put their money into this world, they should plan to invest for the long term and it is also advisable to spend more time learning everything from fundamental aspects to technical analysis of any coin or project anyone wants to invest.
Hive
For me, I am into this cryptocurrency universe for years now and have practically learned many things and burned my hands many times. Right now, I have almost stopped myself to go outside of the Hive ecosystem because I have never seen a crypto platform quite trustworthy like this one. Hive blockchain is a platform that holds promising potential for the future as unlike In most of the communities or projects out there, Hive is a good potential project and provides real value to its users. Moreover, the hive is a truly decentralized platform and also a home for many small and big projects like splinterlands, woo, OCD, etc and if you are a daily user, you have experienced that something new is emerging now and then in this amazing blockchain.
As a strong believer in this platform, accumulating Hive power is a crucial aspect and right now holding top priority of my current investment strategy. Initially, I used to write posts and use all my Hive earnings to invest here and there and thus, I failed to build a good amount of Hive power in my account, but right now, I have no more intentions of reducing my HP holdings because as an old user, I believe that Hive token is a true gem and on top of that, currently it is way undervalued if you look at its all-time price chart. In the past, we have witnessed the price of Hive tokens surpassing even $3 back in 2022 and also it used to be traded above 0.5$ for quite some time but currently being traded only around 0.35$. I still believe in the fact that history can repeat itself and the same can happen with Hive, even if not 3$, it can 1$-2$ easily when the bull run reaches its peak. The accumulation of Hive power is right now one of the main goals for me and I have also decided not to power down a single bit of Hive until I reach at least 10k Hive power. I started focusing on building Hive power when I was only holding around 3.5k Hive power and now looking at my current HP balance, I have crossed 6.3k HP already, and hopefully, by the end of this year, I will try my best to reach a total Hive power of 10,000.
LeoFinance
Another project token that I have started focusing strongly on is Leo, a leading community and multi-project creator on the Hive platform. I used to write money-related articles occasionally on the Leo platform as I was focused only on Splinterlands for a long time. However, when the team launched 2 major projects back to back in May this year, I stumbled upon and re-discovered them and it bent my mind of what they are trying to build. Leofinance has greatly simplified the utilization of web3 and by building a unique blogging platform in the hive and a brand new UI for both microblogging and long format content, they are ensuring that newcomers to the platform face almost no difficulties. Since Leofinance has introduced a microblogging project called LeoThreads on the blockchain on top of its existing long-form content creation. This unique and major upgrade has enhanced the overall user experience and highly increased traffic within the Leo community while empowering its users with earning rewards for their contribution from both short and long content and engagement as well. Leo tokens have already shown a good growth in token value and significant developments have been made thanks to their tireless team working in the clock.
It's amazing to see how they are building a true web3 social media from scratch and I firmly believe that Leo tokens are way undervalued right now. Evaluating their long-term goals and how effectively they are implementing and paving those stones one after another, motivated me to build a long-term investment strategy with Leo token. I started engaging actively since the start of the onboarding campaign that they hosted back in May to celebrate the launch of Leothreads and the brand new UI and at that time, I bought and powered up around 8000 Leo tokens in my account to kickstart my Leo holdings and to gain more curation power and influence in the community. Right now I am actively accumulating as many Leo tokens as possible through both authors' rewards my long-form and microblogging contents and also from the curation rewards I am earning from my staked Leo stash. Right now I am sitting upon 9488 staked Leo power and around 200 + liquid Leo, which I am accumulating for the next LPUD event. I hope to reach my next milestone of staking a total of 10k Leo power pretty soon, within the next 2 months, if all goes well as a long-term goal, I am aiming to reach a total Leo power of 15,000 by the end of this year, so that I can proudly achieve the Lion status. I also actively participate in the LPUD program every month to add Leo tokens from time to time to my staked wallet. This strategy is also enabling me to accumulate a substantial number of tokens and helping to increase my overall staked amount at a better rate. I will keep continuing this approach throughout this year to achieve my goal. Let us not forget that Leo token has previously reached $1 and looking closely at the overall progress of the project and the wise minds behind this initiative, I the possibility of witnessing a similar price milestone is possible I think, so I am building my wealth in Leo while dreaming for a bright and better future.