The bear market has being roaring for weeks now, as it seems we are not having any head way as regards recovery. I was speaking with some traders some couple of weeks back as regards investment methods that they employ during this bearish period and they responded that they trade with the stop loss mechanism and all their assets in stable coins such as USDT.
Well same scenario ain’t far fetch from an interview which was done where the pro trader Kevin O’Leary says that he will sell all he’s Waterloo digital assets and use the proceedings to buy bitcoin. In he’s words he says ;
“Well, I’m doing what a lot of other traders are doing. I’m going into the November time period with over 34 different positions on, many of them underwater. So naturally, what I’m going to do, now that the IRS and other regulators around the world are now looking at crypto in terms of tax compensation very much like a security, I’m going to have to trade.
So I’m going to be doing trading, taking some of the projects that have been decimated down 40%, 50%, 60%, 70%, 80%, 90%, selling those and basically buying what I consider the granddaddy index of all crypto, Bitcoin.”
From what he said all through the interview I had just one take home as I see that he is trying to leverage on the digital assets with the largest market a better bet during this period. I leave with a question that will be unanswered are we there yet.
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Also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.
Let’s also connect on some of the web2 platform.
Twitter:Hironakamura
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