One of my biggest mistakes in the last bull market was not to book any profits, watch it go to the peak, and then come down again. I remember thinking about investing again when the price went down again but I hardly made any big investments in things outside the Hive blockchain. Today we have a good bear market for altcoins and there are a few coins on my radar that I believe might do well in the next bull market.
If the marketing is very good and if we have good things, it will even be possible to improve the price of Hive in the next bull market. But it is not just Hive but collectively many altcoins will have to do well to be able to see some good increase in its value. The main question is if we would be ready to book our profits in the next bull market. I think that I will not be missing the opportunity in the next bull market. I definitely would like to stay invested in crypto but it would also be madness to not book the profit which we see in front of our eyes.
Some of my investments in the last bull market showed me a huge value. For example, my Splinterlands assets were worth more than 50k dollars back then when the bull market happened. That was also the time when a huge amount of players entered Splinterlands. The game team also introduced the CL packs and the demand for old cards started reducing and today there is absolutely no demand for the old cards at all. They are also not generating any great passive income through renting. Hopefully, all these will get sorted when we have the next bull run and when we target more new players in the game.
The idea for me is to not exit crypto altogether but at the same time, all the efforts that have gone here in the last few years shouldn't go in vain. So some profits should be converted to assets in the real world and that's going to be my focus and reasoning for the profit booking in the next bull market. I'm sure not just me but there will be so many people having similar thoughts and might want to book their profits in the next peak market. I guess we can do that only if many new users are entering this crypto space with huge investments.
Stablecoins are another way of keeping the funds safe to use during a bear market. If the price of Hive pumps, I would like to convert some of my Hive to HBD and keep them in savings. I'm not sure if the savings percentage would still be 15% but even otherwise it is going to be good to keep them as stable coin because when there is another bear market and if the price of Hive goes down to 20 cents one more time, I can buy it back with the stablecoins that I have saved. Repeating this cycle multiple times can give me a ticket to my financial freedom.
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