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Reached my goal of 1000 HBD Saved from author rewards – Where I'll go next from here

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@fredrikaa
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Yesterday I reached a goal I’ve been having of building up 1000 HBD in my savings account from author rewards. A goal that I first shared in a post 2 months ago posing the question Is moving HBD from post rewards to savings a good option for most users in the current market?.

In it, I also argued that saving HBD versus buying and staking more HP depends more on where we think the price of HIVE would go next rather than the different expected rates of return of the different tokens. Seeing as the price of HIVE was $2.3 at the time of the post, I think it is safe to say that saving the HBD was indeed the better option.

My current level of HBD savings at 1056 HBD after saving all author rewards the past month.

Today, you can buy twice as many HIVE tokens and thus power up twice as much as you could have done with the same post rewards 2 months ago. But now that we’ve had a correction, where do we go from here?

A lot depends on the broader market

Of course, it is pure speculation whether or not HIVE goes up or down next. On one side, I think it has held up pretty well against BTC, trading mostly at 3000 sats so far in 2022. This does give me increased confidence in holding on to my Hive Power and make me somewhat hopeful that we've gained support which could eventually be the foundation for new growth.

However, it’s also clear that we are in a time right now with extreme market fear, not only in crypto. After 2 years of “everything being in a bubble”, there’s an increased level of caution. Understandably, as most assets have shot through new ATHs every single week. Because Bitcoin has been no exception, the fear of it heading into a new bear market is quickly affecting alts as well, including HIVE.

In my opinion, this makes the case right now for saving HBD even greater.

A period of "Extreme Fear" in the market


The current Bitcoin Fear & Greed Index showing "Extreme Fear" on January 18. 2022 according to alternative.me

We can all sit all day and stare at crypto charts, try and draw some lines, only to accomplish nothing. Or, we can write another great article on Hive, be active and engaging with the community, and try to attract some more users earning ourselves more HBD in the process that we can save (or spend on the now many cool things like Hive Punks, Splinterlands, etc).

It's been a long time since I left behind any desire to try and time the market and make clever trades. Instead, I'm a fan of small and persistent efforts that give sustainable and scalable gains which can be reinvested with good interest. And while HBD Saving is not without any risk, it is a pretty reliable way of growing wealth even in a bear market. Especially if you then also eventually pick up some more HIVE with those savings should it continue to go down.

What should you do?

Again, I'm not one to give financial advice, nor am I interested in anyone's TA jargon attempting to predict price changes. However, we are in a market that tends to have cycles with highs and lows, so after seeing HIVE go +1300% in 2021, it is reasonable to be prepared to pick up some at a lower price range too.

As I've written before in my "2022 Hive strategy, my plan is to continue to save HBD, and then eventually buy HIVE with it should it go below $0.5. And if that never happens, well, then I guess I'll keep on stacking. 😎

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