Hopium, Copium and all the other drugs

avatar of @belemo
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4 min read

I'm not aware of the agent of FUD but my trading friends would always say that it really doesn't matter. All that really matters is the charts and that's all you should base your decisions on.

Well, I haven't been following the charts and frankly speaking, it's not like I can do any proper technical analysis anyway. In face, even those who do technical analysis tend to fall short of requirements sometimes and end up losing.

The point is that the market is in a really crazy state right now. The trading pattern might be predictable to the trained eyes but for people like me, it is unnerving.

Why are assets dumping, when will it stop and will we ever have a face melting bull market again? There are so many questions to ponder upon and decisions to make, particularly pertaining to specific assets in my portfolio.

GLX dream

At around 3, cents, GLX token has been fairly productive, in the grand scheme of things. Fine, the price of the token is a far cry from what it used to be but the staking APR is still pretty high.

As the market persists in this range, a time will come when I'll have to tweak my position. At some point, I'll have to choose between keeping my GLX tokens staked or liquid.

Honestly though, it's not like the tokens weren't always likely to be sold anyway. As our relocation plans get further down the line, I'll still have to sell all or most of the GLX in my possession.

When GLG is gets into the latter stages of development, I might decide to open some packs, so I can be an early adopter. If Splinterlands is anything to go by, these assets that I find in the packs have the potential to be quite expensive in the future.

Ill also be looking at the listing price of GLG packs and making a decision at the designated time. If the packs are priced lower than my purchase price, I'll definitely not be listing or selling but if I see a decent opportunity to squeeze out profit, I'll grab it with both hands.

An SPS situation

SPS is one of those tokens that I constantly keep tweaking my tactics for. One minute, I think I'm going to stick with and ride it down to the abyss, the next, I'm looking to sell off and move on from it.

The undeniable fact is that I've taken a massive L from my SPS holding and only a collosal pump will offset the hurting I've been through. Based on the state of the market, there's really no chance of an SPS pump, so one has to make a decision and make it quickly.

Right now, my mind is telling me to sell it all and just cut my losses. My guy is saying that the SPS tokens could offer me more value if dump them all and reinvest into GLX token's high APR.

A couple of weeks ago, my GLX play with SPS turned out to be a masterstroke. At the time, SPS was more valuable than GLX in the market, so I swapped a decent chunk of my holding for GLX tokens.

Today, GLX is priced higher than SPS and even if it's temporary, I'm in the green for now. Now do I wait for GLX and SPS prices to once again meet at a point or do I just swap it all now, considering that the difference in the valuation is not that much?

What are they cooking in Korea?

The silence of our dear friends in Korea should not be mistaken for inaction. Oh no, I'm sure our favourite hive traders are cooking something as we speak.

It has been while we saw Hive trade above $1 and simply based on where the general market is right now, it's hard to see it happening anytime soon. However, it is not out of the question to think that it could happen at some point.

In the event of a face melting bull market, Hive easily strolls into the $3 range and beyond. However, I'm not sure we're going to be experiencing any of those in a very long time.

What I suspect will happen at some point in the coming months will be a steady climb to $1 and some Korean induced pumps from or friendly neighborhood traders. In any case, the point is that I love you guys at UpBit.

Hopium is Copium

One has to paint these scenarios from time to time as it gives you an opportunity to fantasize about what could be and what not to worry about.

The charts don't show any pump in sight but if you take a good sniff of Hopium oxide, you'll find that as long as you're invested in an actual project, you're going to be expectant.

Having a working product that generates revenue for you is also a pretty awesome coping mechanism. It is one of the reasons I have a small fortune invested in GLX tokens. There's still so much to come and I'll be there, no matter what.

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