Hive's ATH & Its Resistance: What Is Your Crypto Mentality?

josediccus (81)in LeoFinance • 3 years ago

Some people started talking about a possibility of 20 cents, or even 10 when the hive began falling from it's ATH of $3.4 I guess. These were people who saw steem hit its ATH of $8 and had it pummeling to about 7 cents, that's $0.007 if I want to be oddly specific in terms of figures.

So it was normal to feel that since hive has hit its ATH, the next thing would be to tumble down. I was one of those people who saw steem and hive hit their ATH prospectively and one of the reasons why I was happy to be amongst the rarest of users here, is because of one thing.

Being armed with experience for comparison and preparation. I should tell you that many people never felt steem would dip that badly during the bear market of 2018,
this was probably the reason why no one prepared for it and many accrued huge losses that might probably haunt them for the rest of their lives.

Holding The Line; Crash Or Live

So many users/investors were scarred, some people developed a natural hatred for the coin and sold all their stake out of FUD, more like AFUD with "anger" being the major reasons. It'll be relatively difficult for these people to trust another crypto project, and even if they do, they'll lack that bravery to mark risky but smart decisions that could enrich them once again.

I didn't sell my steem stake even when people were panicking, I kept it and when Hive the Blockchain was born, it made it even easier for me to increase my stake on Hive, some would call it sheer luck, I'll call the rare reward for holding on till the end.

Holding on isn't what everyone can do, some people's lives are entwined with their crypto investment, making it difficult for them to make emotionless decisions when there's an upward or downwards change to the figures in their wallets.

What's Your Crypto Mentality?

Another thing is, that most crypto inclined people try to mitigate this aspect of their emotions by getting hooked into so many projects with the hope that even if they lose on some fronts, they wouldn't do so on other fronts. But the truth is, I've found this to be a bit untrue.

Being psychologically and financially hooked to different projects often messes with the one's crypto mentality, a crypto mentality is an original reason a person is into crypto, this reason gets improvised and becomes more rigid or more flexible along the way as people accrue gains and losses, but the core principles eventually remains.

However, I've discovered that people often get lost along the way, due to their attraction to the short-term gains, which is also another reason why they're hooked on so many projects. No one is immune to the reality of pumps, you can see life-changing money being flashed in front of you, and this can alter one's crypto mentality.

Because I've seen both Hive and steem's ATH, I think it's one wealth of experience that has equipped me into making better choices. For one, Hive is not steem, Hive is the Blockchain steem never became. but it's difficult not to think of the steem's legendary 2018 dips when you see how hive has begun to dip after reaching its ATH, but then, the aura is completely different, why isn't anyone scared that hive might take the same route?

Hive has seen its share of dips and has resisted fairly well. One thing about the Hive Blockchain is that it provides choices. When leofinance became a thing for me in May 2020, it became a secondary involvement, inside the chain.

I would say some people on the chain still don't key into the contribution of Leo to the development that's happened to Hive, they didn't support Leo in anyways they took Leo off their curation program.

The Contribution Of Leofinance

Nevertheless, we all know that Leo has grown, should we talk about the traffic it's bringing thorough, its evergreen contents, or how the concept of second-layer has been redefined?

Or how it has generally provided more resourceful and better sign-up processes? Should we talk about how it took the focus off Hive's price when it pumped to $1 in 2020? All these are part of the development that steem never had, it was just blog-to-earn the primary token and nothing more.

To maintain value, it's important to create utility, more use cases, and more options, this is what the Hive Blockchain has done way better. It's important to reckon with dips and crashes, this is why it's important to prepare, there are many expectations on the Hive Blockchain and rightly so, but then, the Future is key