Hello and Namaste Everyone
The crypto market is unpredictable and it truly is because we don't know how things are going to happen in the market. One thing that is looking quite promising and valuable today does not remain the same tomorrow and this is why we call it very volatile and unpredictable. Most of the markets on unpredictable up to the extent we can make some predictions based on historical performance but in the Crypto market, this looks different.
I am talking about the sps token which is the governance token for the splinterlands game. I don't think that I need to mention that this game has completed its fantastic six years which means the game is super solid and built on a solid foundation that is going to be even bigger in future. I don't know what is going on with the government token because this token is continuously losing its price value in the market.
I am also slightly worried because I am SPS folder in the game and currently the quantity I have is almost 60k. I don't think it is a small quantity because if you consider the value it has shown which is an all-time high then it is worth 60 KUS dollars. I don't think anyone would say that the value is low but now it is too low because of the market sentiment and finally, the token price has gone below one cent which is I think an alarming situation for the community. What can be the reason for such a big draw I see that the game is doing well and it is also getting a lot of new users I believe. When the project is going smoothly without any problems and also getting new people then what should be the reason for such a bigger value drop which was not expected? I say that it was not expected because I believe that it will never cross the boundary line for $0.01 but that's a reality now and we have to accept it.
Now there is a question whether we should accumulate more or wait because I have no idea how it is going to work like this because if it will continue to drop then buying now is not a good idea. If it grows from here then it will be a great buying strategy at this price because the price is at the lowest range and even a small spike can add some value to the investment. Once again I can see that it is completely dependent upon the market sentiment and how the community reacts so there is no financial advice from my end but I am just in the process of figuring out what is happening in the token economy and the why price is falling continuously. If I can get the reason then probably I'll think about investing some more money in this token otherwise, I will keep my eyes open to see how things are moving around I will not be investing any more in this token so the next decision is dependent on many factors.
Let's see how things are going to happen in the market and for that reason, I will continue to watch the market closely. Once again I would reiterate that I have not given up on this token and is just the price is gone below my expectations so I am a little concerned about its future but if things look good then I am sure that things are also going to be valuable which might take some time but there is a high probability for that to happen. I have completed a long journey with this game so I don't want to stop it and I hope things will improve over time when whatever I have invested will grow nicely and then things are going to be good for the entire splinterlands community.
https://splinterlands.com?ref=reeta0119
[Images are taken from splinterlands wherever the image source is not mentioned]
Thank you so much
Stay Safe