Deck value rises but no taking profit
One of the things I enjoy most about the crypto market is how assets are all interconnected. Out of all my Hive assets, my Splinterlands deck has to be the one that's filled me with the most joy in recent times.
At the time of writing, my deck value is slowly creeping up to $2k after weeks of being valued around $1400 range. This is a considerable bump in the price and this is just a precursor to what will happen in a bull market.
I don't think we're in a bull market but we're certainly no longer in a bear market. This recent pump is momentary relief after weeks of wicked dumping.
This minor pump was bound to happen at some point. Virtually every asset right now is oversold, and that brings an end to the bears' control of the market.
The relief has once again positively affected the value of my Splinterlands monsters and it really makes me wonder how valuable my deck will be when an actual bull market kicks off.
Hive or something like it
Hive has traded at a predictable range and scalpers are probably having a field day trading it. It has traded between 36-39 cents but momentarily peaks at 40 cents resistance.
This rise in the value of hive and testing of a higher low has coincided with the pump in the value of Splinterlands assets. You can easily track the market perception of your Splinterlands monsters through Peakmonsters.
Splinterlands monsters are bought and sold with dollar valuation in DEC that is in turn traded against Hive on hive-engine. Hive, on the other hand, responds to Bitcoin's movement and its own unique Korean induced pumps that come like a thief in the night.
Thanks to this long connecting chain, Splinterlands monsters pump with he general market. I'm pleased by the pump but I'm not exactly thinking about profit right now.
Not time for profit
The crypto market is still a long way from being bullish but there are positive signs. If a bull market is sex then this is just foreplay, and that's a horrible time to ejaculate.
Talks about taking profit are premature right now considering the real show is still a long way down the line. In fact, one of the salient points to note about this pump is that as the bull market approaches, playing Splinterlands becomes even more profitable.
If the price of monsters, that obviously includes reward monsters pump with the market, then earnings from completing daily and seasonal quests will also rise in value. Also, pay close attention to the price of gold foils, in particular, as the pump often hits them first before it hits their normal foiled counterparts.
I'm excited about the potential of a bull market but I'm not holding my breath as there still seems to be a lot of FUD in the atmosphere. This could end up being a relief pamp and nothing more, so enjoy it while it lasts.
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That's good news as since the bear market I didn't even look anymore at card value. Maybe there is a chance for those to improve their value if the Splinterlands will not flood again the market with tens of millions of new ones.
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I believe that the Splinterlands cards should also be understood as HP are assets to be held and at most rented.
In the future they could be worth much more than now and in the meantime you make a profit by playing and renting them; in any case, once the investment is returned, it's always all profit after all, isn't it?
Nice post, we hope to bring out many profits in the future!!!🤗💪
Even those things that I am not involved in on Hive show the potential for rewards that exist here.
Splinterlands is one of the biggest contributors of that.
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What you mentioned that we are not in a bull market yet, is very true, and I always say it. It is also true, as you said, that we are not in a fully downtrend either, but I always maintain that we must be careful until everything is crystal clear.
Certainly things seem to be starting to pick up on the crypto market scene, and many tokens are starting to generate positive earnings numbers, but they will be crumbs when the uptrend really hits the market. I found your post excellent. Regards.
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