Dedication That Rewards
I spent many years in the business world running businesses and sometimes managing as many as 60 staff members. Extreme dedication and long exhaustive hours were the order of the day. When I look at my reward for dedication within the Crypto realm compared to that of my past, the one pales in comparison. I am sure you can guess which one it is that outshines the other. Crypto has been extremely rewarding and even if the market completely collapsed, I would still be ahead. This reality has been instrumental in forming my conviction to be absolutely committed to this market, regardless of price.
Keeping It Relevant
One of the reasons for that is not only what I have just mentioned but also the approach of relevance regardless of market conditions. For many, when a bear market strikes, Crypto becomes irrelevant and they go into hibernation like true bears. In the last multi-year bear market I started developing strategies in order to benefit from bear markets. In my thinking, if I could not ensure gain in all market conditions then I was not making the most of the opportunity. This ultimately lead to the development of numerous Passive Crypto Income systems.
I have really tried to drive this point home to my readers, as it is truly the most powerful aspect of Crypto, especially as what is earned in a bear market generally increases dramatically in value over time. I recently viewed an interview in which CZ of Binance stated that the earnings generated on the platform are held indefinitely in the currency they were received in. This is a very good move, at least in a bear market anyway. Passive Crypto Income ensures that new Crypto is being added to a portfolio each day, which is a fantastic way to offset loss because no personal allocation of funds is required. A portfolio that is growing, even if only in coin holdings without further allocation is actually what many would consider pretty amazing.
Not Only Possible But Fairly Uncomplicated
The reality is that this is a lot more attainable than some may think and once you begin examining ways to achieve this goal, you realize how truly dynamic this approach is. Perhaps it is just me but passive income has always excited me tremendously, while simultaneously stirring up the drive and motivation to achieve as much as I can. You can always choose to work harder towards your passive income goals but even in the event that you do nothing, the money is still coming in.
This is simply why I ignore price a lot when it comes to the bigger picture of my own strategy. In my thinking, loss in a bear market will be offset by building more and more mechanisms. Fresh daily income is not losing value and can be converted to stablecoins in the event that prices are expected to edge lower for some time. Those stablecoins can also be put to work to earn even more passive income. The opportunities and creativity of this idea are almost limitless.
Keep Your Head Down & BUIDL
Being motivated to keep building regardless of price or market conditions is an extremely powerful distraction. It can also be the most rewarding decision you may ever make in the Crypto world. My most meaningful gains have not come via price speculation but rather building positions in certain projects despite the price, or any other metric and then just hodling. I enjoy working towards a goal. Building and developing a certain investment/mechanism is very rewarding and a challenge I always welcome.
This is not only rewarding from a financial point of view but it is also great to start something from scratch and watch it grow as you dedicate your time and effort.
Worse Case Scenario
In the event that the market continues to slump and we find ourselves slap bang in the middle of another bear market, use the opportunity to apply yourself and build something for the future. I do however believe that this is unlikely, though we may visit $40K you never know. Most only look for opportunities in a bull market but opportunities exist everywhere, you just need to find them.
Disclaimer
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This article was first published on Sapphire Crypto.
If crypto acts like most other markets, which I think ultimately it does and will, the trajectory overall is always up. So, times like these are great opportunities to buy and accumulate. I too have been putting more and more into Celsius, for example, where I can earn something on it while I wait, and of course it's in kind payouts, so if it's BCH I am earning interest on, it's BCH I am receiving in interest.
In the past few days I HAVE slowed down what I put in from cash. But only by a little bit. And I have increased what I "stake."