Learn To Read The Market - What's The Best Strategy?

It's been a few months since Hive Punks were born. For those of you who are new and don't know about Punks, the launch happened sometime in November, when Hivefest began. The initial price per Punk was 20 HIVE, HIVE was trading at around $0.8 that time. Marky's initial plan was to sell these Punks at 20 HIVE, at a 5 HIVE discount and then at 25 HIVE after Hivefest ends. There were 10k Punks in total to mint and were all minted in 36 hours.

The Best Buying Strategy

Punks are not new but the Hive blockchain did not have them till November last year, so Marky has created them for us. Quite many have already had some experience with Punks on other platforms, so I believe they had some kind of idea how things work, however, Hive is Hive and you can never know it one strategy would work on Hive or not.

The big players were ready at launch and were minting Punks like crazy. Small players were minting a few Punks, depending on their budget, including me. The best part of the whole thing was that you did not know what you were minting, until the Punks showed up in your gallery. It was like playing the lottery. If you were lucky, you could get a valuable one or more, if not, you ended up with some low rarity Punks.

So in retrospect, buying a big pack of Punks had its advantages for sure. Chances to get some rare Punks were way higher than buying one or two. Now that we can follow the market, if you pay attention, you can see how the smart ones are doing. By selling one or two high rarity Punks you can get your initial investment back and the rest in your collection is free money. No matter for how long you are holding these Punks for, it is pure profit. It is like in trading. Set up TP points, take profit, get your initial investment back, move your stop loss to the previous low and you are gold.

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Today I bought Veronica Montes for 9 HIVE. I love it, especially the hat, so I bought it. I'm not sure if I'm going to sell it yet. We'll see.

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The truth is, no one knows what these Punks will worth in the future. This was the first Punk I bought on the market a while back for 14 HIVE and I thought it was a good deal as the initial price was 20 HIVE. The seller lost 6 HIVE and maybe dollar value as well as there may have been a difference between HIVE price at buying time and selling time.

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Then two days ago I bought this Punk with the white Panama hat for 6 HIVE! Hive is trading around $0.87 now (just for the record).

I remember after the minting ended, there were a few Punks already selling under 20 HIVE, especially the low rarity ones. There have been a few floor level Punk cleanings since then, but no one thought we would see Punks at 6 HIVE. As I said, life in unpredictable, you don't know when and why holders will sell their collection. You need to be ready to jump in when you have the occasion to grab a good piece at a good price.

I hope one day I will have enough funds to mint a bunch of NFT's, get a few really valuable ones, sell one or two to get my initial investment back and enjoy the rest. Till then, I'm watching and learning 😂

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