What is the best moment to get the most useful knowledge about crypto world?
During last month we had up and downs of the market, and I self analyzed my behaviour about reading and get passioned of various arguments.
BULLS
When bulls start the race I'm a greedy squirrel and every All-Time high in 24h transactions volume, every article about next multichain project that will defeat Ethereum based dominance in Defi catch my eyes and, obviously, my brain.
Chiliz (CHZ) doubled, 24h value +100%. Transactions 2.58B$, 3rd after BTC and ETH. What is CHZ token?
It supports the world’s leading blockchain fintech provider for sports & entertainment.
Wow, this is astonishing, I never heard about Chiliz outside of a mexican restaurant.
Chromia (CHR) is now the 4th cryptocurrency in 24h transactions ranking. WHAT IS THIS?
Chromia (by ChromaWay) is a new blockchain platform for decentralized applications, conceived in response to the shortcomings of existing platforms and designed to enable a new generation of dapps to scale beyond what is currently possible.
I'll never forget Chromia from now on.
In the same day 95 coins and tokens reached the All-Time High value. And, frankly, I read every single name of that 95 coins and tokens, but I remember only 4 or 5 of them.
Are NFTs the Next Big Thing? I start during night using Wax wallet and I tried to understand the Atomic Hub marketplace. I’m really a newbie and I’m not able to understand the market: so many proposals, so many artists and so many collections. Which are good choice criteria? The most you like the most you buy?
Most of these bullish behaviours have one hidden and fixed desire in the back: to become rich, leave my job and donate dozens BTC to charity.
BEARS
Let's start with my approach to games and NFTs in bearish days. I began some weeks ago to play UPLAND. My UPLAND explorer is a sci-fi movie fan, and I often found him sailing and diving searching for properties in Pacific Ocean. When the top of depression is coming a big surprise there: my third UPLAND property is securing in EOS blockchain! I found it and paid 4500 UPX under the FSA program, which grant to new users cheap properties.
This event let me think about NFT, and all the efforts I'm doing to understand how to make money with this new wave. Games and tokenization of gaming goods, services, status, accessories etc was may be the first example of net regulated economy inside a wide community and I have one of the most promising games in my hands, that is UPLAND. So, if those bearish thoughts about an NFT bubble arises again, I will discern between incomprehensible piece of arts and something very solid (historically), that are NFTs inside games. So I start planning a cautious investment inside UPLAND that I will do next months to become a little landlord. In fact I simply calculated earning ratios by buildings and I found at least a 10% profit per year: a good investment. Obviously I could add to my potential earnings the profits deriving from sold properties, the NFT dropped in special events that I'll sold in internal marketplace when it'll be launched, and possible treasures found (where?) in my daily free research.
About coins and tokens, only one sample: Hedera Hashgraph coin, HBAR. When I read first of the project it was recently transferred on the mainnet, and the most important feature I enjoyed is that Hedera network is able to process 10,000 transactions per second (10,000). I had 2 cents (2 $ cents) of HBAR in my BRD wallet, and now their amount correspond to 5 cents (6 now). I think that when you feel to be in front of a good project it's time to invest few money, for example few dozen dollars, but it's time to invest. Bears suggest to diversify, to put few reources and to be patient.
About trading, I'm not a trader. I started using Shrimpy to make copy trading (or social trading as you prefer) following one leader that is specialized on Binance Defi cryptocurrencies. He reached incredible results in last months, and I started following him when this specific market bumped heavily. Which is the bearish thought suggested by the leader and processed by my confused brain? HODL, stay here, wait. And I'm doing it.
Obviously, what you read above are not financial suggestions, you'd be fool to follow me as a financial guru. But what I investigated is that bearish thoughts are smaller, they are developed in a wider timeframe and they will bring me to make wise, proportionate and more solid decisions.
CONCLUSIONS
Enthusiast is the most common definition of a cryptofan. In these years the incredible peaks reached by blockchain based "goods" and services fed this enthusiasm engine. Without BULLS many coders, investors and simple citizens would never be engaged with cryptocurrencies, Defi and a long list of tech jewels. But the explosion of projects and informations transformed a niche in one the most important parts of financial world. That's why I think BEARS could be the best friends in this long journey. If we will ride them reading an article, forming our own idea and planning an investment, we'll have the best knowledge we deserve.
This is my first article on Publish0x, if you arrived here I'm the happiest human being in the world.
Follow me https://noise.cash/u/EnergyB0x
This article was previously published on Publish0x Curi0xity blog. Some images provided by regular license on scop.io
