Hopium, Copium and all the other drugs
I'm not aware of the agent of FUD but my trading friends would always say that it really doesn't matter. All that really matters is the charts and that's all you should base your decisions on.
Well, I haven't been following the charts and frankly speaking, it's not like I can do any proper technical analysis anyway. In face, even those who do technical analysis tend to fall short of requirements sometimes and end up losing.
The point is that the market is in a really crazy state right now. The trading pattern might be predictable to the trained eyes but for people like me, it is unnerving.
Why are assets dumping, when will it stop and will we ever have a face melting bull market again? There are so many questions to ponder upon and decisions to make, particularly pertaining to specific assets in my portfolio.
GLX dream
At around 3, cents, GLX token has been fairly productive, in the grand scheme of things. Fine, the price of the token is a far cry from what it used to be but the staking APR is still pretty high.
As the market persists in this range, a time will come when I'll have to tweak my position. At some point, I'll have to choose between keeping my GLX tokens staked or liquid.
Honestly though, it's not like the tokens weren't always likely to be sold anyway. As our relocation plans get further down the line, I'll still have to sell all or most of the GLX in my possession.
When GLG is gets into the latter stages of development, I might decide to open some packs, so I can be an early adopter. If Splinterlands is anything to go by, these assets that I find in the packs have the potential to be quite expensive in the future.
Ill also be looking at the listing price of GLG packs and making a decision at the designated time. If the packs are priced lower than my purchase price, I'll definitely not be listing or selling but if I see a decent opportunity to squeeze out profit, I'll grab it with both hands.
An SPS situation
SPS is one of those tokens that I constantly keep tweaking my tactics for. One minute, I think I'm going to stick with and ride it down to the abyss, the next, I'm looking to sell off and move on from it.
The undeniable fact is that I've taken a massive L from my SPS holding and only a collosal pump will offset the hurting I've been through. Based on the state of the market, there's really no chance of an SPS pump, so one has to make a decision and make it quickly.
Right now, my mind is telling me to sell it all and just cut my losses. My guy is saying that the SPS tokens could offer me more value if dump them all and reinvest into GLX token's high APR.
A couple of weeks ago, my GLX play with SPS turned out to be a masterstroke. At the time, SPS was more valuable than GLX in the market, so I swapped a decent chunk of my holding for GLX tokens.
Today, GLX is priced higher than SPS and even if it's temporary, I'm in the green for now. Now do I wait for GLX and SPS prices to once again meet at a point or do I just swap it all now, considering that the difference in the valuation is not that much?
What are they cooking in Korea?
The silence of our dear friends in Korea should not be mistaken for inaction. Oh no, I'm sure our favourite hive traders are cooking something as we speak.
It has been while we saw Hive trade above $1 and simply based on where the general market is right now, it's hard to see it happening anytime soon. However, it is not out of the question to think that it could happen at some point.
In the event of a face melting bull market, Hive easily strolls into the $3 range and beyond. However, I'm not sure we're going to be experiencing any of those in a very long time.
What I suspect will happen at some point in the coming months will be a steady climb to $1 and some Korean induced pumps from or friendly neighborhood traders. In any case, the point is that I love you guys at UpBit.
Hopium is Copium
One has to paint these scenarios from time to time as it gives you an opportunity to fantasize about what could be and what not to worry about.
The charts don't show any pump in sight but if you take a good sniff of Hopium oxide, you'll find that as long as you're invested in an actual project, you're going to be expectant.
Having a working product that generates revenue for you is also a pretty awesome coping mechanism. It is one of the reasons I have a small fortune invested in GLX tokens. There's still so much to come and I'll be there, no matter what.
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Ok! Yeah I've been stashing some.of that glx into the diesel pool. Sweet! I'll keep an eye out for it.
The latest price fall is due to FED governer Powell's speech. Some investors were concerned about a 50 base points rate hike for the next meeting. So it is not crypto-specific. Genesis League Sports is performing great in terms of financial indicators.
For now, the only problem with GLX is the fact that the market is quite small. The number of token holders aren't quite as many as SPS, for example, so the token price is easily manipulated.
In the discord, they alluded to that fact by pointing out how a handful of accounts influenced the price of the token recently.
I just listen to people, who provably know what they talk about, pretty much all of them say, that bull market is coming. Personally, I hope, there is 1 more fall back and it won't start before end of summer, so I can stuck up with everything, including Hive, but those who are analysts, chart gurus, all say it is max couple of months.
And most of them connect it to the dollar index, but at least mention it, monthly, weekly, daily charts show that, even if there is 1 more up wave, it will collapse, come down, so all cryptos will go up.
DXY And I see what they, the usd index never went up after a sudden spike down from a top, what it did last few months + Fibonacci + a dozen more indicator shows that, too. + all the money printing in the last couple of years, how much was that 50-100%... they nearly doubled the circulating money, so they purposely create(d) huge inflation. In crypto the supply is limited, even that 1 thing, must result huge bull run in cryptos.
I follow few guys, who called BTC, ETH between 2-20$, that it will be huge. (and most of them said it can be around 50k$ between year 2030-50, well we all know the all time high...) Everybody looked them as insane stupid, well they were right, you should listen to them and decide on your own after. The pessimists price the next BTC top between 100-250k... and again, everybody look at them the same insane how they did 6-10 years ago... I just hope, they are insane, again!!!
Yeah, I'd be hoping for a healthy dose of that kind of insanity as well. A huge pump in the future would be absolutely awesome
Thank you for holding virtualgrowth token. You have been included in today's post.
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