Not Too Boring Yet? * My Hive Goals (Week 33, 2022)
This week we've seen some price action that made people hope bitcoin might break through that 25k resistance. It looks like it didn't, and to me it makes sense. Bitcoin is now moving in a range, from 20k to 25k. How long will that last? I don't know, but if we look at the history, we see this, on a log scale:
There's always been a sideway move after the brutal bear market crash, and it lasts months. The first one lasted 8 months. The one after the previous bear market lasted 3 months, but after a pump in price followed over a year of relative sideways movement compared to bitcoin's overall volatility (which included the crash from March 20th, 2020, and the quick recovery).
Mid-September will be when 3 months would have passed since the current bear market's crash stopped. I don't see any indication that the economic conditions would suggest a pump like the one in mid-2019 would follow. But you never know with markets.
The last part of a bear market is often boring in terms of price action. That's when many people who resisted through the crash lose hope, especially if they have a loss, on paper.
Unlike bitcoin, HIVE is... entertaining. Koreans put on a regular show either for HIVE or for HBD (for switch they take a fee, i.e. profit, but so do others). This week was HBD's turn to get pumped (and dumped on). I wasn't in good shape on Friday, so I missed this boat. But I'm betting the Koreans will run this show again. I wonder if they sell tickets.
But that's actually a side-show. Because the main show is on Hive and everything you can do with HIVE and the 2nd layer tokens in the ecosystem.
Splinterlands is on the verge of revolutionizing the world of stablecoins. DEC is about to become a product-backed stablecoin. Here's the post which announces the introduction of SPS rewards for ranked battles.
HIVE Power Goal
I added 200 HP this month, a round number, although unintentionally.
Next week I'll pass the 18k HIVE Power threshold, which is nice, but the EoY goal is still far.
LEO Staked
This week I only added the 500 LEO to my stake from the LPUD. The rest I kept liquid to add next week, to not distort the weekly average needed too much. That's 1969 LEO more than when I start tracking this goal, 9 weeks ago.
127 LEO per week are currently needed to complete this goal by the year-end. Looks like this goal will be accomplished without further external pushes, which is good. I have my HP goal which needs a lot of focus.
Splintershards (SPS) Staked Goal - Completed
The SPS staking goal is COMPLETED!
Announcements from the team made me realize the more SPS the better, even above my goal. So I stopped using it to buy CL cards.
I won't stake it though (for now), it's in the diesel pools.
Maxing Chaos Legion Set*
*) or reaching the limit beyond which I consider upgrading a card not profitable
The overall situation, to better gauge my progress, because I still need to push hard on this goal:
Total CL Cards (incl. reward) | Maxed or Limit | Percent |
---|---|---|
132 | 65 | 49.24% |
Total CL Cards (excl. reward) | Maxed or Limit | Percent |
---|---|---|
99 | 44 | 44.44% |
I did significant progress on this goal this week. Looks like I have almost half of my CL cards maxed or almost maxed (including reward cards).
I'm still opening packs as I earn more alchemy and legendary potions.
I maxed Grum Flameblade this week. Even if the bonus compared to level 3 isn't fantastic, I use it relatively often when the ruleset is favorable, and I wanted the edge advantage.
I decided to not max Legionnaire Alvar, and instead cap it at level 3/4. I consider it reached that level, although technically I still need one or two BCX and the rest are on the rental market. Maybe I'm lucky to find them in the packs, I'm not in a hurry, I don't use this card often.
Three other legendary cards I consider maxed out:
- Void Dragon
- Desert Dragon
- Zylax Vuul (initially I wanted to cap it at level 3, but it was pretty cheap for a legendary card and I decided to max it)
Legendary Summoners | Maxed |
---|---|
1 | 1 |
Rare Summoners | Maxed |
---|---|
6 | 6 |
Common Monsters | Maxed | Reached Max Desired Level |
---|---|---|
29 | 10 | 1+? (9 under consideration) |
Rare Monsters | Maxed | Reached Max Desired Level |
---|---|---|
23 | 7 | ? (2 under consideration) |
Epic Monsters | Maxed | Reached Max Desired Level |
---|---|---|
17 | 5 | ? (2 under consideration) |
Legendary Monsters | Maxed | Reached Max Desired Level |
---|---|---|
23 | 12 | 2+? (2 more under consideration) |
CL Reward Cards | Maxed | Reached Max Desired Level |
---|---|---|
21+12 | 21+0 | 0 |
Social Targets
I started the week with 9395 comments and 9842 replies.
And now I am at 9491 comments and 9952 replies. They are both above my targets of 81 comments and 76 replies weekly to reach 10k of each by the year's end, which is good!
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Thanks for the great information. I didn't know that it was common to have a sideways market after a bear market. Thanks for sharing.
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This is an uncommon situation, with the economic troubles coinciding with e a bear market. We will see exactly how that will affect what we will see going forward in crypto. Normally, I believe we have seen the bottom, at around 18k for bitcoin.
Great update Adrian. I regret now upgrading a few cards to level 2 as the rental income is much better if I had left them as level 1. And now with the pump in DEC, its just a full throttle ride on splinterlands at the moment. I wish I had bought DEC before this pump... its now 30% more expensive!!!
Depends from card to card, but in some cases, it's better to leave them at level 1 in others, in the longer term is better to upgrade them to max bronze, max silver, etc., or simply based on how they gain their abilities and stats.
Well on your way keep on crushing it!
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Thanka Sean!
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That chart showing the sideways price action following big dumps is really cool.
Thanks for sharing!
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Thanks! Often, the best way to understand what happens is to take a step back and look at the big picture. That may even invalidate your own previous ideas. I thought September would be a bad month for crypto, as it's been historically so. But maybe not this September.
You have some awesome stats on the Hive blockchain. You keep track of every bit of progress you have made here and there.
Keep going for September.
I do keep track of most things on Hive or elsewhere. I don't share all of them, though, only the goals I have set for Hive. I believe keeping track is important to know where you were, where you are, and where you are going.
It's weird to see the koreans play around with the price but I guess it's unavoidable until there is more supply out there. I just don't like the fact that their exchange is closed to most of us.
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Yeah, I've talked about that a number of times. To the point where people might think I have something against the Koreans, lol. Which I don't. But their strategy hurts Hive as much as milking the reward pool does, but we were able to fight the latter to some degree.
NO, not too boring, it's actually inspiring! :)
Came here from ListNerds!
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Yep. But on the price action part, it usually gets boring before it gets exciting again. To shake the impatient ones.
Good report, Adrian.
Interesting information on Bitcoin.
Thanks for sharing.
Keep an eye on that Korean market, lol
!CTP
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It was a too nice chart not to share!
Compliments.
@tipu curate
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Thank you.