Biting the Dust or Waiting for Joy?
I followed a Turkish account on Hive about a year ago, and he blogged about anything crypto. I started following him in the middle of the bear market and have learned a lot from him.
He talked a lot about his plans to stay active on Hive throughout the bear market, as well as how he intends to optimize the bear market in order to profit during the bull market.
This guy was active for a long time, but it is been more than three months and he has not been active and most likely has not followed through on his bull market strategy.
Aside from Hive, I do not know how else to contact this person to find out why he has not been active. Perhaps he is been preoccupied with life, or they have not been feeling or doing well; check to see if they are still alive.
Hive does not have message integration features. Another thought occurred to me: perhaps he had simply given up building until the bull market. This happens a lot; many people are excited about the prospect of building. They see the bear market as an opportunity to build; however, the market lags and stalls, dampening people's motivation.
During the bull market, many newcomers were onboarded, not just to Hive, but to Crypto in general, and more than 80% have exited the market, with many selling their holdings and moving on. Many people believe that this is a Hive-specific issue, but it is not.
Web3 & Retention Issues
Web3 typically has retention issues because the majority of onboarding occurs as a result of an Airdrop or the bull market, which is why the people you are vibing and counting your millions with are not the same people you will be building with during the bull run.
Have Many Market Cycle Have You Seen?
Most people have only seen three market cycles, while OGs have seen up to four. Most people who have only seen three cycles have not wised up. Many of us made mistakes in the first and second markets, but we have been here long enough.
There are people who dropped out after the first true bear market of their first cycle and attempted to return during the second, but they did not develop the necessary survival and perseverance skills to survive the second one, so they dropped out again.
2024 Has Not Lived Up To Expectations
Again, this year was expected to be very positive for crypto, but, as we have seen with numerous swan events recently in crypto, we have not gotten a break. Aside from BTC breaking its previous ATH before the halving and BNB setting a new ATH, 2024 has been completely drab and negative, and even people who survived 2023 will not survive 2024.
In reality, the year will end in just over 4 months, and there will be plenty of depressing price action to come. These constant lags are likely the reason why many people are abandoning cryptocurrency in general; it is simply too difficult for them. Their faith and resilience have been tested, and they are unable to hold on. It is easy to say, but difficult to do.
Dust Or Joy?
This market is very unique, and no one has been able to predict anything similar to what we currently have, and I believe there will be more surprises that will undoubtedly drop off a batch of people before the second cycle of those markets.
So, if you can make it to the apex of the bull run, I am confident that the people you are currently grinding with will not be the ones you will be counting millions with in 7 to 10 months. If you keep finding yourself with different people in different cycles, you will know how far you have come and how many people have bitten the dust in this quest to be financially free with cryptocurrency.
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Posted Using InLeo Alpha
I'm waiting for those millions to appear, so as of yet I'm sure not counting them! LOL
People do occasionally vanish never to be heard of again. Unless you have them as a friend on Discord it's hard to even get in touch with them.
Hopefully we will all become stinking rich in the next six months, but we have a bit of a wait before that is even remotely possible. The bull run hasn't been all that great except for the major coins.
I made some good gains in 2021, but I never took profit and I didn't save for the rainy day, I could have been buying back some crypto at this low prices, it's the biggest regret I ever have. I could have been comfortable rather than thinking of the next bill lol.
Coins that had zero utility that I held we're doing x20 and 30
Now you know to take profits when they come your way. I held some of those coins too long as well. I still have some Axie's from Axie Infinity that I should have sold off in the mad rush. I made money though so I can't complain too much. At once point they were worth more that $1K, now I'd be lucky to get $20...
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It is hard to keep motivation during bear market if the returns from Hive are at low levels. This is indeed a problem for web3 in general. In my opinion appealing to other schemes to improve earnings is important. And this is why I have diversified into HBD and earning both Hive and HBD, while having 15% APR 100% passive in Savings alleviates the low levels during bear times.
You're right, having HBD just helps you to earn better. At 15%, the APR is still very good.
I'm predicting that in just a few months time, the bull market will onboard influx of new users, but those who have been around will be the biggest winners
I’m simply waiting for the bull
Money no dey to bite dust again😅😅😅
Everyone is eagerly waiting
Sometimes 4 years is a long time. I admit I didn't remember this period of the bull market post halving being so harsh (at least on Hive) from last time until we started going through the same thing all over again now. I don't know what happened with the Hiver you were following recently, but I know this period must feel even worse than the bear market, especially if you're not ready for it. You're prepared for a bull market and get a long bear market inside the bull market that drains the energy of many people. It's not easy to get through it, and many don't, at least not on a regular basis. The best can pull themselves out of it and even take advantage of the bargains.
Times are tough and I think the bear market shows you who will stay and who won't. I think a lot of people just move away over time and the retention isn't really there as much.
With onboarding, I think the incentive is short-lived and unsustainable, the expectations that users come with is quite far from reality, so they're unprepared to weather the storms or see beyond the wild fluctuations. Sometimes, I do wonder if interest for crypto among non-crypto users will dampen over time, given the lack of stability and uncertainty that's becoming more prevalent with crypto.