The cost of living keeps rising

2 mo
LeoFinance
2 Min Read
479 words

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Living off crypto tends to insulate me from the adverse effect of Naira inflation but the bear market is slowly changing that narrative. Navigating personal life requirements and crypto-related stuff has been quite difficult.

Over the years, I've mastered the art of balancing my crypto-related activities and my real-life activities. I've gotten to the point where I could call it a talent because I honestly don't have a specific playbook beyond scraps of information that I publish on Hive.

A lot of what I share on Hive is an abridged version of my reality. There are a lot of instantaneous decisions that I have to make that are often outliers to the scheme and those are the ones that stress me the most.

In any case, for the most part, at least, I've been fine. I've experienced two different gruelling bear markets and stayed afloat, in fact, I was surfing the crazy waters but right now, this situation feels new.

Bearing the bear market

The bear market is a strange monster, it is almost like its only purpose is to block every route of revenue that you find. It is such a frustrating time of the year for all assets in the market but this year's has been the worst so far.

In 2022 alone, there have been at least 4 cataclysmic level events that have damaged investor confidence. Just when we thought there was some glimmer of hope after the Luna event, we had the FTX collapse that has tentacles that reached out to parts of the financial world that we probably can't fathom right now.

Personally, I don't think we're out of the murky waters yet. Agents of FUD are still unearthing more dirt that'll influence investors' confidence and I reckon there's more pain on the horizon.

On a positive note, if the crypto market survives this period and we actually get another bull run in the distant future, we'll look back and see these events as a massive test of the industry's resilience.

Unlike previous bear markets that I've survived, things are a little bit different for me this year. Perhaps it is because we've had at least 3 bear market events in the space of a couple of months but I'm= struggling to keep up.

Don't get me wrong, I have a small reserve of funds in HBD that can cater to any emergency but things just feel more difficult. Earning has dropped across the board and there just seems to be a lot of doom and gloom in the air.

The bear market is coinciding with a time when Naira is also losing against the dollar. So, basically, I'm losing on multiple fronts and it is making life seem more expensive than it really should be.

Posted Using LeoFinance Beta


Menh I can't even fatom how we got here but one thing I know is that we will surely bounce back, it might take time but the dust will surely settle, now is the time for ultimate reset just DCA on projects that you have trust in. But for me right now it's only hive that got my back

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Na who don chop dey DCA 😆

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Lmao no be lie Sha, I powered down my account too actually survive last month now that the stakes are gone I need too hustle up too buy back especially at this cheap price

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That's correct. Living price keep rising and salaries of people are reducing the value.
I think that people not reaching certain levels of incomes will soon suffer and will become slave of "government bonuses" that is a first leverage to start controlling even people's finances

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Man I hope it never gets to that level for me

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Ehehehe, my friend. It's not just a matter of you and me. If too many people fall that way, people that could be financially free will struggle as well, since they will be not much and more easily targetable.
That's why I am trying to share good information here on Hive (and other bloggin platforms as well), so to spread some awareness about available tools

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One of the things that drives me nuts in Crypto is how every single negative thing that happens effects the entire market. It's like if the CEO of AMD were to get arrested for fraud, and then every stock were to plummet. It's getting silly.

Of course, I kind of feel like it's all just massive market manipulation by whales, anyway. Well, to a certain degree anyway. It is also traditional investors buying into Crypto, then getting scammed, then triggering massive selloffs because 'all of it is a scam'. It really is a roller coaster ride for us true believers!

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Keep earning those dollars to subsidise the crypto price falls while you stack more tokens.

Posted Using LeoFinance Beta

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I think that the bear market is not just currently happening with crypto. The whole world is affected financially (e.g. massive inflation, war). The negative thing is, there are few things we can diversify our portfolio to protect our financial assets.

Let's hope for a bull market with the start of 2023. 😊

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