The Current Cryptocurrency Market: Are You Buying Or Crying??
We all new it was coming (well at least those of us who been around the cryptocurrency markets for longer than a year or two new it was coming), the dreaded correction or dip as some like to call it. As the old saying goes, what goes up must come down. Corrections are expected to happen and there is lots of factors that might contribute to one. Right near the top of that list is profit takers. When tokens reach new highs in USD worth some early investors might want to take some profits. Of course there will always be the weak hands that sell and months later cry about how they should have held their token (don't be one of those guys). As the two screenshots above show BTC and HIVE are already fighting their way back to be in the green. Over the past few days BTC dipped to around the $33,000 USD mark and HIVE dipped to a low of around $0.71 USD. Hive's current 24hr low was just shy of $0.79 USD. Currently it sits at $0.84* USD. Bitcoins (BTC) current 24hr low was $35,757 USD but is currently sitting at $37,065 USD. Will these coins continue to rise or is this what is known as a dead cat bounce (awful name for a finance term).
Hive Seven Day Chart
BTC Seven Day Chart
As the sayin goes,
"The time to buy is when there's blood in the streets".
If you are confident in a share, stock, token or coin and have done research corrections only mean one thing, everything is on sale. While the weak hands sell the future rich stack their bags with their favorite investments. There is also an investment strategy called dollar cost averaging. This can be done regardless of if the market is on a downswing or upswing.
The current correction hasn't forgotten about NFT's (non-fungible token). All one needs to do is look at the ever growing in popularity Hive Blockchain game known as Splinterlands to see that NFT's have also taken a hit in USD Value. NFT's are still doing very well in their USD worth but a dip has taken place. It isn't just the general cyrptocurrency market that is to be blamed for the recent dip in Splinterlands NFT's. Other factors such as the introduction of a brand new edition of cards (NFT's) known as Chaos Legion has contributed as well. For weeks there were no official packs (contains five NFT's) for sale on the Splinterlands official site and this caused prices to sky rocket and then correct once packs became available for purchase. I believe this correction is healthy for the game as it allows new players and investors to get involved at reasonable prices. Another factor for Splinterlands NFT price correction is the USD fluctuation of the SPS Token.
What Is SPS?
- SPS is the governance token for the Splinterlands game
What Is Splinterlands
- Splinterlands is a blockchain game that utilizes NFT's for game play
- Click here to join Splinterlands today!
The SPS Airdrop
As noted above SPS is the governance token for the Splinterlands game. Its whitepaper can be seen Here. As for the airdrop portion, all one needs to do is hold Splinterlands assets and they will get airdropped SPS daily for up to 365 days. Currently the airdrop is on day 183/365 (Today's Date: 01/25/2022) so that means there is still lots of time to get yourselves some FREE SPS. Below is a list of all Splinterland assets that count towards airdrop points. Some of these assets can only be purchased on secondary markets such as Hive-Engine and LeoDex. Others assets can be earned daily such as the SPT token which is the official Splinterlands blog token (Splintertalk.io).
Disclaimer: I routinely make bad financial decision so in no way is anything that was said above financial advice. Always do your own research before investing any of your hard earn currencies and always follow the golden rule of investing. NEVER invest what you can't afford to lose.
Posted Using LeoFinance Beta