Sweating Bullets Over The Crypto Price Drop!!!

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This hit me harder than it should!!

Yesterday, I noticed the USD value of $HIVE and $HBD dropping. I smiled "here we go again." It wasn't unusual. Then, it dropped again, and it continued to drop... I started to panic as I don't think prices could recover soon after something like this.

Apparently, there's the whole FTX exchange being sold to Binance story. It happened at the same time as the prices drop started, so I think some rich guy sold off their crypto holdings or something because of it & that started the whole crash.

I don't have a lot of Crypto holdings but my main ones aren't stablecoins. Hive is one of the most important to me. Between the 8th and the 9th of November 2022, the price dropped more than %20 ...It has lost a third of its value from a month ago!

The USD value of posting rewards on Hive is determined by the current Hive price at the time of payment. (I'm not really sure how it's being calculated, but it should be daily.) So if the prices kept dropping, my HBD earnings will go down. I was thinking of buying a few things in this sales season, maybe that's why I panicked.

Now, after writing this, it doesn't feel as bad. Blogging therapy is a thing, it seems... The prices are gonna correct, or I'm gonna get used to the new ones. Rewards aren't going anywhere, and the crypto space has dealt with worse damages.

At the time of this writing, the prices still keep their downward trend. I'm already used to it by now. Comparatively. I just hope they go back up soon.

What do you think?

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10 comments
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It'll bounce back. Personally, if it drops all the way back to 10c before it hits 50c again, I'm super fine with that as it means I can actually scoop up a solid chunk >:D

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Eh, I'm not to worried about it. Anytime an exchange gets funky prices go a little crazy.

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Was it this bad when this happened to other exchanges?

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I think it got fairly close. That said, even if this is a bit worse, I'm sure it'll rebound in due time.

Of course for me this is my side hustle, I still have my real job, so I guess I'm not as heavily invested as some people. If it all crashes down, I'm still going to be fine.

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