It's going to feel like a long wait

Crypto is trying to find its legs again. Price for BTC is hovering around $5K. Since the big drop, the price has been rather sideways. Understandably, the world is in crisis, so fears can be expected to ripple through the markets. The COVID-...

7 months ago, comments: 1, votes: 11, reward: $0.25

Crypto is trying to find its legs again. Price for BTC is hovering around $5K. Since the big drop, the price has been rather sideways. Understandably, the world is in crisis, so fears can be expected to ripple through the markets. The COVID-19 threat is not a long-lived one. It will be around for a few months. However, we eventually will get past it. More damaging is the economic slowdown that results from people not traveling or gathering. Travel is one of the largest economic engines. Many places around the world rely on tourism for a large part of their income.

Thus, it is going to be a while before we can expect the markets to start seeing significant gains. I've locked up some money in MCO, as mentioned in previous posts. That MCO will be earning about 8% interest. I have also been buying a little CRO, which will pay out 18% interest once I buy the minimum balance. Other alt coins here and there. BNB, for example, has potential because it burns tokens. Kyber also burns tokens. Tezos, I'm iffy. Currently, Coinbase has Tezos paying out around 5% interest.

As you can tell, my plan is to hodl and not rely solely on capital appreciation. I want my crypto to earn interest in the meantime. If these were stocks, I'd be buying stocks that pay dividends. Then I'd be reinvesting those dividends. With crypto, I plan to reinvest the earned interest. My hodling horizon is about 20 years, when I reach retirement age.

Of course, one worries in a sideways market. You kind of would like to see a little bit of growth. I'm just going to have to accept that I may not see any gains for several months. It's going to feel like a long wait even though it won't be much compared to waiting 20 years.

Posted via Steemleo