If this is your first bear market, I'd like to cordially welcome you to the crypto industry. This is an industry where you could go 50% in either direction in a heartbeat, so get used to it.
There's no breathing space for anybody around here because things tend to happen really fast. One minute SPS looks like it's heading to 40 cents, and the next minute it is crashing back down to 18 cents.
We like to see the glass as half full, so for the most part, we describe this period as a discount sales in the industry. If you're not paper-handed, you'd know that this is just a normal day in our life.
At the same time though, it is always important to prioritise our needs and ensure you're protecting your interest. Panic selling is horrible but if you need the money, who am I to stop you from selling?
At the time of writing, SPS trades around 19 cents and could technically drop further. However, history has proven that this price range tends to be the floor.
I'd be really concerned if the price of SPS drops below 18 cents. I see that price as a threshold of sorts and anything below there is the abyss.
The general characteristics of Splinterlands assets have followed the imposing trend of Bitcoin. In the face of all the turmoil, including the situation in Kazakhstan and the dollar suddenly becoming strong, we can't say this wasn't expected.
Hodl or dump?
Honestly speaking, if you decide to sell right now, I won't blame you. Sometimes, it's okay to stop loss, watch the market and then re-enter at a favourable price.
Looking at the trend, you would have been wise to say, sell Hive at $1.6 and then re-enter at a lower price, if you knew this was going to happen.
If you had done that between yesterday and today, you would have even more hive to hold towards the ragnarok and Larynx token snapshot.
Anyway, holding isn't also such a bad idea as well. Especially for people in countries where you have to fill a lot of tax-related stuff for every trading action you perform.
I am not adept at navigating through charts, so I generally pick the easy route of trading whenever it suits my personal needs. I also don't have to file tax returns for any of my crypto transactions, so that means I can buy and sell whenever and however I like.
Right now, my gut tells me to hodl, so hodl I shall. I'll suffer through this period and that will make the bounce back even more exciting.
What are you going to do with your vouchers?
Vouchers are the recent addition to the Splinterlands airdrop family. After this morning's final boosted voucher airdrop, only 20k vouchers per day will be distributed to the community.
At this rate, we'll be getting only fractions of the token every day. The reduction in the supply of vouchers combined wth the general sale could lead to an increase in the price of vouchers.
The price of vouchers will rise if big spenders decide to go hard on Chaos legion packs. I don't think each voucher can cost more than a pack but considering you need vouchers to claim bonus packs from purchases, and the big accounts tend to buy a lot of packs, there will certainly be demand for vouchers.
Personally, I'll be watching the price of vouchers, so I can pick up a decent chunk in the near future. Since my plan is to buy a total of 1k packs, I'll need vouchers to claim the accompanying 100 bonus packs. Right now I only have about 22 vouchers.
What I wonder now is will the price of vouchers continue to trade at this level or will they rise? I mean, the supply is reducing due to the end of the double drop and on top of that, a decent chunk of vouchers will be taken out of circulation in the general sale that starts next week.
What are you going to do about SPS?
We know that the value of SPS has dropped dramatically since previous months but the bad news is that there's still a chance of the token dropping even further.
Other than chaos legion monsters, there's going to be a mini edition pack set to be launched. Not too many details about the pack is out but we know that purchasing the pack will exclusively be with SPS tokens.
The tokens used to purchase the mini edition get burned or something like that. I just wonder how that works out for SPS in the long run since both forces of the market are pulling it through the packs.
SO what happens to SPS tokens at the end of the day? Also, what happens at the end of the airdrop period? So many questions and so little time.
Contact & Support
- Discord: belemo#9593
- Twitter: https://twitter.com/belemo__
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