Trying to Grab and Accumulate more SPS this Bear Season

We are in the bear market as of now and but the current situation seems better which can be considered as one of the signals for the upcoming bull run. Based on some technical analysis and expert's opinions it seems like the bull run is not far away. We have two cycles of the market and in both market cycles, there are different strategies to be followed I believe the bear market Is the best time to accumulate and build the holding. Similarly, the bull market is the right time to book some profit and get prepared to buy more when the market is down. This fundamental applies everywhere including the crypto tokens as well as the gaming projects because due to the market effect, we can see the price drop in the value of assets in the game.

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If I talk about the gaming project then with Splinterlands we can see the same impact when assets are available at a discount and all this is because of the current market situation. There are multiple assets in the game ecosystem including the NFC cards and also tokens. There are three tokens in the game including SPS, DEC and voucher. SPS is a highly valuable token in the game ecosystem because it is a governance part of the ecosystem but it is highly undervalued because of the bear market.

SPS Buying strategy

I have been buying sps almost every day with different quantities and whenever I manage some extra funds then I buy with a bigger quantity which is almost like 1000 or something. This is part of my strategy that I want to have at least 150K SPS in the next few months. I do not have a big amount of money hence it is not possible for me to buy a bigger bunch in one go but since I have focused to build my holdings so I try to buy whenever I have some funds. This is also helping me accumulate more tokens at different prices so on average my buying range is pretty low and this is good for me. I stake whatever reward I earn every day and also deposit the tokens I purchase from the market because there is no benefit in keeping the tokens in an idle state.

I purchased 1000 SPS from the market today and powered up at the same time as you can see in the below snapshot. This is how I am trying to build my steak and I believe the current rice is kind of an opportunity in the market to bag as much as I can. I am not sure if this price will stay for long because we know that there is a change that has already been announced to make SPS an important component in the game. everybody will be required to keep the SPS holding in the game account to play in a specific league and that should be pushing the need for more tokens which might result in price appreciation.

SPS Holding

As of today, I have more than 105k sps tokens in total and I made 100k SPS last month which was May 2023. I have added almost 5k tokens in a month and I am going to try my best to increase it even more. I hope that by the End of next quarter, I should be able to have approximately 120k SPs in total and if I manage some extra funds then I would prefer to buy more SPS in one go. This way probably I am going to grow my holding and let's see when this happens.

SPS Price

Here I am sharing the SPS price chart and you can see that its trading price is approximately $0.016 and this is almost the lowest-ever price. Maybe its value drops further and goes to $0.01 but I am not expecting this TBH. Even if it happens then also I am not going to wait for that since it can be a risky game. Because I buy in parts so anyways I get a better average price and we can not expect the next price movement. I will continue to buy and accumulate as and when possible and my strategy will remain the same.

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I can't expect how the market will behave in the next few days or weeks but I am going to continue the same strategy that I have been doing for the last many months. the goal it seemed that I am trying to have 150k SPS in the next few months with the same strategy of accumulation that whenever I have some funds then gonna buy more and power up.

This is not financial advice but I believe that sps is highly undervalued in the current market situation and even though we know that the token is going to get multiple use cases in the game. Probably many players are not holding whatever they are earning through their staking and because of that region the price is low but when the increase will be seen in the demand then it will reflect in the price spike for the sps. I know that it will take a long time for the SPS to be at the $1 price mark but I easily expect that 10X from the current price will not take long.

[images are taken from splinterlands wherever not mentioned]

Thank you

Posted Using LeoFinance Alpha