The market situation is in negative sentiment and we see a lot of coins in red color because of the ongoing issues generated from the US primarily. In this market, no one expects the prices to go down and we all hope that the prices remain green color all the time which is practically not possible but this is how the market works. there are always two situations in the market that sometimes bring green color and sometimes it also brings red color in the market depending upon the overall sentiments and news floating around. we know that the importance of news in the crypto market is a lot that it impacts the prices according to the sentiment of the news. If the news is good then we can expect better prices in the market and if the news sentiment is not good then the same impact can be seen on the prices in the cryptocurrency market.
SPS is one of the tokens that I am bullish on and it is because the token is the governance part of the game. There are certain benefits provided to the holders and it is good because this way the project encourages more people to hold their tokens. The sps token has been airdropped for one year to everyone who holds various assets in the game and because of that reason proxy some whales have got a bigger number of tokens and they are trying to sell and profit even now when the price is low. I have been accumulating sps tokens since the beginning and now I hold more than 100 K in my account however I am trying to increase it even more. more SPS accumulation is good for us because, with the upcoming change, we are going to play in the league based on the sps holding.
SPS Market Price
looking at the below price chart we will realize that there has been a bigger price drop in the token price in the last week and from now it is really hard to predict how it will move in the coming days. Are we going to see the SPS price at $0.01? I don't know if this is going to happen or not but the market sentiments are not looking good so if more people sell then probably that might happen. I have been buying a token to increase my holding but now I feel like waiting because if a price drops further then I'm going to get more tokens for the same price. As a buyer, I would always expect the prices to be on the lower side because this way I would be able to get more tokens, and once the value appreciates then it will bring more profitability to my investment.
Earlier I had a plan that I will increase my holding before the change is implemented in the game so whatever is the remaining time which is probably 2 to 3 months will be utilized to buy as many SPS as possible. Now looking at the market sentiment it feels like waiting is the right strategy because if I buy now and the price drops further then it might not be good for me as I will lose on the by and this is the reason why waiting for some more time can help.
Current Holding
Here is my current holding for the SPS token and I'm trying to increase it gradually because that is needed for the upcoming change in the game however the current price movement is putting me on hold because I expect there can be an even better buying opportunity. I never expected that the price of SPS will go below $0.02 but now since it has happened so somewhere I expect that this might be close to $0.01 also. I'm happy to have whatever number of tokens I'm holding but there is always something that can be improved and this is the reason why I am planning to have at least 200K sps in my account within this year. We are left with more than six months for this year and I believe this is the time when I should be able to achieve that mark because the token price is low which will help me accumulate more tokens.
I'm still bullish on the SPS because I believe this is a temporary situation that might last for the next few months or even a year but in the long run the prices are going to be on the higher side. It is obvious that if we expect $1 SPS then it seems difficult but a significant rise can be expected on the token rise post the change implementation and may be probably after a couple of years. Although it is not financial advice that I'm sharing in this post but being a long-term player in the game I feel that now is a good time to accumulate more tokens however the purchase should be done in part to make the most of these available buying opportunities. there will be an increase in the token price once the change is live in the game because the use case for SPS is going to increase and that will result in more demand for the token.
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