Join 94,590 users already on read.cash

What I Plan to do during the bear market

2 26
Avatar for BitcoinBaby
Written by   90
1 month ago
Topics: Bear Market, Plan, Sats, Coins, Saving, ...

For those of you that read my last two articles. my midterm outlook on the crypto market is kinda bearish indeed.

Every cycle Bitcoin Drops 84% from its Top - Will this cycle be differ...

Bitcoin Biggest Crashes - Is an 80% Dip Normal?

And it´s been bearish for some time now. So that gave me time to think about how I was going to handle this bear market.

Well, first thing I am doing is not worry about the halving of my portfolio over the last couple of months.

Based on my analysis I will recover around those losses by this time next year. So well just keep holding what I got.

I expect a further dip as per the below graph, so I will be buying BTC on the way down.

I will not be buying ALTS for now because as I expect to at least go near a 21K BTC ALTs are a bit risky at the moment. I will start buying those again around 21K and down to 14K if we ever hit that point.

And well as I have not invested anything I am not willing to lose I will not be selling till Bitcoin reaches above 48K again.

Why´s That?

Because I basically started buying the dip from the moment that 48K BTC support broke, so till that time I can relax and keep my sell orders on the order book.

Keep Earning

Step two is to keep on growing the Sats in my portfolio.

That means:

I will keep posting on Noise and Readcash because the dollar value of what I earn there has remained the same, but the number of BCH sats has doubled over the last 2 months since BCH went from $400 to $200.

So making twice as much sats while the effort did not change.

And holding those BCH Sats on Celsius allows me to accumulate even more sats, like CEL sats. Of course, as the dollar value of BCH & CEL dropped significantly so did my rewards but sats are sats, and one day not so soon, it will all look greener.

The same applies to Publish0x, where I have been seeing a steady increase of followers, but since the tips were halved the reduction of income generated is not (yet) mitigated by the increase of followers. Still, I keep diligently learning and earning (AMPL and STA) sats.

The Biggest Loser

Of all the platforms I am on the biggest Loser right now would be TORUM. The value of their XTM dropped significantly. From 20 cents at the end of March to 5 cents in early May. But XTM has been there before, and that was less than a year ago. So when the metaverse explodes again a year (or two) from now, I am sure it will reach that $1 value again.

Scraping BAT Sats

Many of you are probably earning BAT rewards through Brave, if not you should. It ain't much but 4-6 BAT each month, but when BAT runs up to $1.75 again next bull run, that is $10 a month for using a good browser.

On top of that, as mentioned in my other article, I am buying BAT from people who do not want/have an Uphold or Gemini wallet. Paying them 66,6% of their BAT value in BCH and they tip me their BAT. Stacking sats that´s all it is.

Swapping your BAT earned from Brave without using an (Uphold) Wallet

Making WAX selling some old Freebies

Selling my free NFTs, this is really the most outdated project I am still handling.

When the market crashed in May 2021 I had a look into NFTs and found that most artists started new series with a giveaway. Unfortunately, that is no longer the case, although there are some good giveaways on Twitter, it ain´t what it used to be.

Now some of those freebies ended up being worth something and some are just virtual toile paper. But I am still holding about 170 of those nfts, of which one or two get sold weekly. And even with WAX being at half of its normal prize. I still have at least $20 in the pipeline.

Keep Learning

So next to stacking Sats I plan to do a lot of learning these next couple of months.

I recently deep-dived into the BTC 4-year cycle and will be looking at the price of mining one bitcoin next. This might become interesting as BTC prices are dropping and high gas prices are also pumping the general price for electricity. So at what point is a Bitcoin worth less than the price of electricity required for minting it?

Next to diving into those topics I still got a hell of a lot to learn about the Defi-verse. And then I just picked up a whole new stream of income through Listnerds which needs some more investigation and understanding as well.

On top of that, I am playing around with creating GIFs and I hope to also improve those skills.

Keep Writing

But above all, I am a writer, or I think I am. And I have been focussing on writing more these last months. Especially writing more content for and learning how to behive on HIVE.

Because in my first year of writing English content I felt like Hive is a whole other Universe and I did not have the time to go around exploring it.

Now that I am slowly finding my place in the crypto-verse I decided that it was time to dive into HIVE. I have been there since Jan 2021 but only started exploring in April 2022....and I already found out that I am still a HIVE baby with lots to learn...hmm maybe I should consider a name change from BitcoinBaby to HiveBaby...but well I am kind of a brand already so I better stick to my old name.

Bottom Line

I guess I will be keeping myself very busy during this bear market, this crypto winter will fly by and soon turn into a beer market to celebrate the next bull run.

Now after all my positivity please tell me what your plans are in case I am right and we will have one more year of the bear?

Post Scriptum:

Places where I do Liquidity Mining and Staking 

Cake DeFi.  Here you have to invest $50 dollars and you get 30 dollars for free. You can withdraw your 50 dollars at any time or use them for Liquidity Mining, Staking, or lending to earn more DFI rewards. The 30 dollars is locked for 6 months but earning you interest for the 6 months. https://app.cakedefi.com/?ref=197670 

Celsius. Celsius Network provides a platform of curated services with fair interest, zero fees, and lightning-quick transactions. You can store your crypto and get rewards or lend crypto with low fees. Celsius has been around since 2017 and stated to always have the best interest of the community in mind. My experience so far has been good although I will not stake all my crypto with them...NYKNYC

https://celsiusnetwork.app.link/1046126043

Disclaimer

I do not have any connection with any company I am writing about. I am not being paid to write this article.

If you like my content, please hit like and subscribe. Because more Bitcoin baby Mistakes are coming......

Feel free to provide tips, comments, feedback, anything.....?
Remember that sharing will improve life in general!

Direct Donations are always welcome to keep me going:

BAT Tipping: https://twitter.com/Tegendraads_69

7
$ 3.01
$ 2.96 from @TheRandomRewarder
$ 0.03 from @Oikawa
$ 0.02 from @TheGuy
Avatar for BitcoinBaby
Written by   90
1 month ago
Topics: Bear Market, Plan, Sats, Coins, Saving, ...
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments

Totally agreed. I am hoping to increase my stack of ETH now the price is down. Should be a good time to accumulate!

$ 0.00
1 month ago

I also have same plan to buy BTC if it hits to 23K already you mentioned in Your article. Bearish looked too offensive and I think they will not return back without dumping more. I have experience of Wax but not for Cakeswap. It looked risky. I can use your account to get my 50$ back. Thanks for good information.

$ 0.00
1 month ago