We awoke to another flurry of red in the market, this time without mercy. BTC has developed the habit of going up alone while causing the alts to plummet. That is what it is. This will be a sucker punch for those who are constantly checking the price. Although prices are always in your face, especially if you use the value of your portfolio to determine how well or poorly the market is performing.
Is it really worth being concerned about? I do not think so. So many elements are currently in play, and the market needs to sort itself out. It is difficult to maintain an upward momentum without crashing at some point. There is always some sort of flash crash here and there, and I believe that many people are concerned because they are invested in one altcoin or another.
The drop from 72k to 69k is minor, but it feels like a significant loss because BTC dominates the market. A BTC maxi will not be concerned, as BTC has performed well. If there is any consolation, I believe it will be that 90% of alts have not performed well; we can argue that it is not yet alt season, which is fair and valid, but the market's psychology is making it feel bearish again.
BNB: living by example
Except for BNB, which is pushing and making waves, I do not believe any alt coin has maintained consistent momentum, and that is fine.
SPS is one of those in-Hive tokens that has taken a beating, and given the utility that coin provides and the fact that gamers are even paying to rent it, I am surprised it is still so low. I would like to think it has something to do with tokenomics and other things, but I believe SPS is a sleeping giant.
Not the type that does x20 and so on, but the type that simply surprises you with a nice, decent profit. However, I believe it is not yet time. SPS is dirt cheap, and this is not the first time I have said this. Buying it now does not guarantee you will make a lot of money, but it does mean you can still earn through gameplay and make a decent profit during the alt season.
I decided to ape in and get myself some SPS, nothing special. For the past two months, I have been buying $2 to $3 worth of SPS on occasion, and it is even better to buy cheaper SPS during this time of the market. I want to buy as much as I can at that low rate because it helps me increase the amount I can earn per battle, which is good.
With the way the market is going, I am hoping to get a decent airdrop from the projects I am involved in so I can still buy Hive. Hive is my top priority; if I can, it is the kind of opportunity I want my child to have. The passive opportunity is arguably better than anywhere else, and any money I earn elsewhere will undoubtedly go to Hive.
A Blessing & A Curse
Hive's continued availability at this price is both a blessing and a curse. A blessing in the sense that you can get it for a low price, but also a curse because many people who have accumulated want it to rise. Different people have varying desires and needs.
It is Time to Be Strategic
Too much emotion and sadness may cause you to miss out.
It is probably not the best time to be upset about something that has already happened. It is not the end of the world, though it can feel like it. There may be more dips for a month or two, with Hive dropping to 25 cents and BTC dropping to 64 or 65k; they are not there yet, but there is a chance that this will linger, causing more tears and panic.
Away from the panic, there is hope, and I believe the final quarter of the year will mark the start of something new.
Interested in some more of my works
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