It’s no news anymore that we are in a bear market and the old time bear oldies are getting thicker skin for every bear market they survive. I guess it’s high time we start calling them the bear market veterans. Because you can’t go through the crypto price crash cycle, with Fear, Uncertainty & Doubt come out as a Diamond holder and not be seen as a Bear Market Veteran. This way you can prepare your tales to tell upcoming bear market veterans. You can exaggerate your stories to suit you just to make them see you as a firm crypto believer no matter the weather.

This crypto bear market will be my second bear market I am experiencing and I have had my fair share of giving my previous bear market experience. The bear market season has never been easy and just like in game thrones series, winter came and the ironic part of this story is that, while going through the last bear market in 2018/2019, the final season of game thrones aired so we experienced 2 “winters” in the last bear season.

I dollar cost averaged from 2018 to 2019, buying the dip, till I got tired of buying the dip. The value of my portfolio went half and I felt like selling them. But I didn’t succumb, I kept my Diamond hand spirit flying. It wasn’t easy but staying away from my portfolio helped me a lot.

StableCoins Hitting All Time Highs

The last bear season didn’t have StableCoins, I think, I can’t remember using USDT or USDC in 2018/2019. But this time, there has been a massive increase in StableCoins. As the bear season approached, lots of paper hands must have converted their holdings to StableCoins as the assets is supposed to be stable. Although the LUNA/UST fiasco got some people’s feelings shaky towards StableCoins, but I think they have gotten their confidence back and are okay with leaving some of their assets in StableCoins.

I trust only three StableCoins and i have some of my money in them which are HBD(Hive Backed Dollar), BUSD(Binance Dollar) & USDC ( By Circle). But have you notice that lately StableCoins have been on the top of the charts in the list of cryptocurrencies based on market cap? We have USDT holding the number 3 position, USDC holding the number 4 position, BUSD holding the number 6 position. These are just the ones on the top 10 list, if we want to look at the coins on top 100, we still have more.

It was recorded that the entire StableCoin market is at over $100 Billion. I think it should have a record of $150 Billion. Yep, and the total crypto market cap is $912 Billion. Out of over fifteen thousand(15,000) available cryptocurrencies, StableCoins hold $150 Billion of the total crypto market cap. This means that StableCoins have about 14% dominance in the market. Besides most of these StableCoins are backed by fiat reserves so people tend to trust the fiat backed StableCoins more.

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