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Hodling, Staking and Farming: Best Ways Forward

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@warliezdiaz1
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2 min read

One thing I am confident is that the market will go up. A protracted bull cycle is on the way, USD 100K Bitcoin is still a mid-term target and USD 250K is a long-term target.

Honestly, it is too difficult to say when this dip will end when there is so much manipulation and whales are easily affected by FUD news, whether it is the threat of a new COVID-19 variant, a government pronouncement or policy which not only affects the crypto market but all other assets as well or the seemingly useless narrative about Evergrande.

I quite hate it but then it is the market, users, particularly big players decide on the course it takes. Unfortunately, Bitcoin was supposed to be immune to these threats as envisioned by Satoshi Nakamoto. But then I see it as the fair price of institutional and mass adoption. People act based on their emotions and the general sentiment of the market even if it does not affect the crypto market at all.

A few years from now, most of us will look back on these days as something petty or not worthy of so much attention in the same way when people worried of Bitcoin losing half of its value when its price was just a few hundreds. Those people must be looking at the charts right now and not even seeing how sharp were those dips based on the current price.

It is during these dips when we are reminded that hodling is still the best way forward. Staking will get you more of the assets you hodl although you may be required to lock up those assets. Farming can help you amass profits if you do not really care about impermanent loss. After all farming rewards could even be more when compared to the impermanent loss you may incur.

Always remember the buy low, sell high principle. Selling at a price lower than the price you bought your asset will not help you and you may contribute even more to the market bloodshed. But if you re holding shitcoins or memecoins, you may need to rethink your options.

(This is not a financial or investment advice. Kindly do your own research diligently.)

Posted Using LeoFinance Beta