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RE: How does the Bear Market affect you?

in LeoFinance2 years ago

I think I am somewhat similar to you. Having been through March 2020, where I saw my BTC which I bought at 10000 went down to 5000 (same for ETH), I am quite fine this round actually. After all, BTC is still much higher at 30000 now. My approach is the boring way, i.e. hodl and do nothing.

And like you said, I can't say I am not affected as well. Especially seeing how some people in the community are quite badly hit. So let's hope this "blood bath" will be over soon.

I do have a random thought though. How does HBD maintain its peg, and will there be a chance that what happened to UST could happen to HBD?

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The difference between HBD and the Luna stuff is mainly that HBD is much much smaller. It is a couple of millions of dollars and Luna was like 100 times that. Also HBD is backed by Hive and the majority of Hive is staked for 13 weeks or more. A meltdown isn't impossible but it would never go at the same speed I believe. There were times when HBD was 0.7 $ and other times when HBD was 3$. So nothing can be totally excluded I believe.

I see, thanks for sharing! The staking part might be a difference indeed.

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Thank you!