30 Days Left of the SPS Airdrop!
We are finally reaching the end of the SPS airdrop
Why finally? Well because the price development for the token over the last year has been abysmal 😮 It's been one long downtrend with new "impossible" lows which I don't think anyone doing TA predicted correctly (myself included!). But what I learned from this is that airdrops are not a good time to hodl unless you are really in for the long haul. I have seen this pattern repeated for other airdrops (I am looking at you pCUB etc.): price gets crushed by people who see the airdrop as free money. With this mentality in a free market the price development is always negative. This is the reason for why I am looking forward for the airdrop to end! There is a good chance for a price reversal.
SPS has been in a downward trend since the beginning. One huge descending triangle which has so far very accurately predicted the new lows. To the top price could not break out of this triangle, although there have been many attempts. At about 6 cents currently we are down over 90% from the ATH. Pretty tough for hodlers especially since this has lasted for almost a year now!
But all trends break eventually, right? I think so at least. A descending triangle is generally followed by a break out in price to the upside. With the private sale having ended and the public airdrop ending in 30 days could SPS finally break out to the top? There is still room for SPS in this triangle, but from my experience I can say that it never runs to the end.
A closer look reveals that we have some parallel channels running to the side. These seem to have some predictive power for future price targets. However, since all my predictions have been off for SPS I am not going to predict anything crazy :) But I will make one: I think there will be a break out to the top in the next few weeks somewhat coinciding with the end of the airdrop. I am not sure about how fast price could climb, but a moderate trend would give us perhaps 9-10 cents at around September.
There is still a lot of liquid SPS out there with about 380 Million (total supply is about 810 Million). But it does seem that more is being staked. Of course with the airdrop ending there is going to be a lot less SPS going around. So selling pressure will get a lot less. I guess we will have to just wait and see how it plays out!
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
Check out the Love The Clouds Community if you share the love for clouds!
Watch out for the human traffickers at hivefest. You wont know it until its too late. STAY AWAY! Beware, traffickers can be women or men! They will act nice until they dont. There is human trafficking going on around this type of crypto. I have witnessed it. They literally have attempted my murder and are trying to kill me with V2K and RNM. Five years this has been happening to me, it started here, around people that are still here. Homeland security has done nothing at all, they are not here to protect us. Dont we pay them to stop shit like this? The NSA, CIA, FBI, DHS, Police and our Government has done nothing. Just like they did with the Havana Syndrome, nothing. Patriot Act my ass. The American government is completely incompetent. The NSA should be taken over by the military and contained Immediately for investigation. I bet we can get to the sources of V2K and RNM then. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism ..... https://ecency.com/gangstalking/@acousticpulses/electronic-terrorism-and-gaslighting--if-you-downvote-this-post-you-are-part-of-the-problem if you run into one of them you may want to immediately shoot them in the face. 187, annihilate, asphyxiate, assassinate, behead, bleed, bludgeon, boil, bomb, bone, burn, bury, butcher, cap, casket, choke, chop, club, crucify, crush, curb, decapitate, decimate, deflesh, demolish, destroy, devein, disembowel, dismember, drown, electrocute, eliminate, end, euthanize, eviscerate, execute, explode, exterminate, extinguish, finish, fry, grind, guillotine, gut, hack, hang, hit, ice, implode, incinerate, kill, liquidate, lynch, massacre, maul, microwave, mutilate, neutralize, obliterate, off, pop, poison, punnish, quarter, ruin, shank, shock, shoot, shred, skin, slay, slaughter, smoke, smother, snipe, snuff, squish, stab, strangle, stone, suffocate, suicide, SWAT, swing, terminate, torture, terrorize, whack, waste, wreck. You better fucking kill me.
I can't believe that we're so close to the end of the airdrop...let's hope the SPS price skyrockets due the lack of selling pressure!
!1UP
Amen
I hope so too.
Posted Using LeoFinance Beta
100%
This is so true
My investment at 80 cents has been crushed.
I have it in PolyCub at 68% APR trying to make some back, but definitely should have bailed at 60 cents, as I could have re=entered now and increased my investment.
Still looking at doubling my stake by buying exactly what I hold , but will it keep dropping?
That’s holding me back.
Where is the bottom?
What day does the airdrop end?
Posted Using LeoFinance Beta
July 26th. It's hard for me to believe it will just continue to drop like this. I think this was the longest aridrop in cryptos ever attempted and from what I can tell is that price goes up after it finishes
Okay. One more month.
Are they still dropping vouchers?
You have received a 1UP from @luizeba!
@monster-curator, @vyb-curator, @pob-curator
And they will bring !PIZZA 🍕, !PGM 🎮 and !LOLZ 🤣
Learn more about our delegation service to earn daily rewards. Join the Cartel on Discord.
Pretty Cool Graphic, definitely attention grabbing.
Posted Using LeoFinance Beta
Congratulations @tobetada! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out the last post from @hivebuzz:
I am looking forward to SPS airdrop ending as well, the free money should end so we start seeing the real value of the token. Over time I do see appreciating in value price-wise.
Posted Using LeoFinance Beta
I just spent a better half of my morning reading your posts and analysis. Gems for real. Loved them.
Seen this news? What are your thoughts about it? Could this possibly be a bullish signal?
I just spent a better half of my morning reading your posts and analysis. Gems for real. Loved them.
Seen this news? What are your thoughts about it? Could this possibly be a bullish signal?
thanks! great that you find them useful :)
I think this is definitely bullish just like all other news which signals institutional adoption. Its a long process with ups and downs