The market is down again!

in #hive-17768216 days ago

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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No need to panic I agree. SPS has been beaten to a pulp, but hopefully the Splinterlands team will pull out some changes and advertise! They really need to market their product!

Hopefully we'll see some nice gains here in the near future, but patience is a virtue in alt coins!

Patient is truly a virtue in alt projects, I get that many people are tired of the bear market, truly I agree that it can be scary but it's what it is..

SPS really need the love and concentration from the splinterlands team. It truly does.

Honestly, I don’t think there is any reason for me to panic. I’ve been in this crypto world for quite a long time now and I understand a bit of how the pump and dump works so it is nothing to worry about

Well, there's always a reason to panic when a crash like that of yesterday happens...

Wait so is BTC going down what is affecting the Hive value too because I saw a sudden drop of Hive to below the average $0.30; it's been on? Also I feel the same way about SPS, it's so undervalued right now. If Splinterlands keeps improving, I think we'll see some nice gains. Patience is key in these markets I suppose

BTC is moving the market. It drops, so does every alt project out there, unfortunately it's not alt season, so BTC is mostly doing more damage whenever it goes down

That's a seriously sad thing... But some of my friends said that seasons like this come and go, will this be the same ?

We haven't seen alt season yet, if and when it happens people will be buying high as usual...

This post has been manually curated by the VYB curation project

It's typical of people to want to buy when their chances of making profit becomes very low. You're right that's when to know it's truly an alt season. Thanks for the curation

This is not the best time to check the price, someone can develop high blood pressure, we should just keep building and keep hoping for the best

Exactly not the time man, but it exactly stares you in the face immediately you take a look at your assets lol.

Volatility is one thing that is both disadvantage and advantageous on crypto space, and the fact that no one can predict or control it is the amazing part, but we will keep at it.

I wish I can also hold some hive too for a while, I think there are some benefits to it.

It sucks and I think it's the effect of the ETFs that less people are going into the altcoins. I think it just made things easier for people because they can just invest into ETFs and be done with things. Then again, I do think alts will go up eventually but that won't happen until BTC shoots upward a lot. It's both a blessing and a curse, but there isn't much we can do about it.

Definitely! I think we're also still in the process of the market sorting itself out amidst macroeconomic factors that are at play, I only expect to see a sustained upward movement around Q4 of this year, which means there's still time to accumulate despite the volatility.

It looks like we'll still have a few months of waiting... We're still in-range with BTC, but alts are suffering, which is normal during this period.

I love when markets are down. If $HIVE hits $0.25, I'll pick up a decent chunk.

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I found your blog thanks to Steevc:

My post title title is a bit dramatic lol, I like it to attract attention..

I found your blog thanks to Steevc:

Oh, thanks a lot. I saw the post too. Thanks for checking out..

Yeah. I'm trying to identify more dolphins and orcas from around the world. I'd like to know who I'll see in 2030 on HIVE :)

God willing, I'll definitely be here..

Truly I'm also vested in some side hustles if they pay, I should pick up some hive too