Posts

What are your crypto-related new year resolutions?

avatar of @belemo
25
Belemo
@belemo
·
·
0 views
·
4 min read

We've arrived at the end of the year and there's a lot of partying going on. In the midst of all the celebration, there's also room for thinking and sober reflection.

Different people react to the new year in different ways. Some people think it's all bullshit and we're fussing over nothing because it's just another day.

Others are excited because they see it as a time that comes with new opportunities. They believe that the fact that there's a change in the date means has some psychological, emotional, and other ramifications.

Technically speaking, both schools of thought have a point. On one hand, the new year is just another day but on the other hand, there are issues like fiscal policies, budgeting, and stuff that make the new year have a special feeling.

I like to sit somewhere in the middle by adapting from both sides of the equation. I'm not exactly or Sive because of the new year but there are certain changes that occur in the society that warrants a different approach for the new year.

Taking profit

This year was very productive and lots of assets moved in the right direction. As awesome as that may be, it means nothing if you don't take profit.

I didn't take profit on many occasions because I was holding out for something bigger. One token that kind of hurts is DEC.

Watching the price of DEC tumble as it did in December was rather difficult. That total value of my DEC holding dropped from $8k to $3k.

The reason I held DEC all through the dump was to take advantage of the SPS drop. So I'm basically banking on SPS tokens to save my portfolio.

Anyway, next year, I'll take profit whenever the opportunity presents itself. I'll be more decisive in the way I make my decisions.

Cautiously taking risks

Continuing from the last section, I also intend to take more risks this year. However, I also intend to apply caution.

I'll be looking out for opportunities that are available within Hive and outside it. For example, I missed out on having Bro tokens and all the dividends that it offers because I didn't take a chance.

Next year, I'll be taking my chance, all be it cautiously. If I had bought tens of dollars or maybe even just a hundred dollars worth of bro tokens when it was created, I would have been in a good position by now.

We live and we learn. I've learnt that I'm going to try even harder to add assets, take even more risks and in the process, increase the number of assets in my portfolio.

I also intend to try out new projects more often. I already started playing Gods unchained but that's just the beginning.

Unlike this year where I dwelled almost exclusively on hive, next year I'll explore other platforms.

My goal is to diversify my time and resources into different opportunities. In the long run, it'll all serve to the benefit of hive.

Assuming I find another opportunity outside, I'll reduce the need to sell Hive assets, and depending on how productive the external source is, I'll even be able to buy more hive products. It's a win for me and my hive portfolio.

Get a new skill that I'll apply in crypto

Speaking of my portfolio, next year I'm going to finally add a new skill to my arsenal. I had earlier talked about learning coding in some capacity.

This coming year, I'm going to go for it by taking physical classes from other programmers. The online stuff doesn't quite cut it for me.

So immediately after the holiday, I'm going to signup for classes at a tech hub in my area. They offer classes in different programming languages and I intend to take one in python.

The hope is that I'll be able to adapt the knowledge to other languages. I'll hone my skills on hive and eventually become a hive dev.

My first project will be to bring something to life on hive. It might be related to hive Naija community, time will tell.

Be less sentimental

Finally, I'll be less emotional about my trading decisions.

For most of last year, I held on to so many Splinterlands monsters that I should have sold at a premium. Many of them have seen their price reduced dramatically.

If I had sold when prices were high, I would have been in a much better financial position than I am now.

2022, is coming with promise but also the potential to be the harbinger of a cataclysmic market meltdown. Thanks to that, I want to ensure I stack as many stable coins as possible to take advantage of any future dip.

To achieve this, I have to make tough decisions and sell assets that need to be sold. I have to pick my moment and do what is right for the long-term growth of my portfolio.

At the same time, I also have to put my money where my mouth is by ensuring I have some governance input in all the projects I'm invested in.

I want next year to be even better than this year. I have to learn from my mistakes and make sure I win even more accolades.

I'm grateful for 2021 but it's time to put it in the past. I want 2022 to be far better.


Contact & Support

Posted Using LeoFinance Beta