250% POSH spike, LVL target and Bear Market thoughts
I woke up to a pleasant surprise from POSH token in my Hive-engine wallet. The Proof of share token spiked by an impressive 250% after a couple of trades went through
About 24-ish Hive was invested in POSH token and that led to a dramatic pump in the value. I assume the major protagonist of this pump, the POSH token wallet address, is the buyback program effectively pumping the price by filling sell orders.
Hive-engine data also shows that my buy orders technically contributed to the pump. In the past couple of days, only my account and what I presume is the buyback account have bought POSH tokens in recent times.
POSH market cap is still quite small, so with a couple of Hive, one could actually affect dramatic changes in the price of the token. That said, I'm going to continue putting in buy orders with a couple of Hive from time to time.
I'm quite optimistic about the POSH project because of the team behind it. So I will be adding a couple of tokens to my collection and try to climb up the rich list.
Topping the list will take a decent investment but from my observation, other than @acidyo, most of the other current top hodlers aren't buying from the market. With the crypto market in the shitters, this could be a nice opportunity to climb up the ranks at a discount.
LVL target achieved
It has taken a couple of months but I've finally achieved one of my milestones for the year. PsyberX is still in development but before then, you can start collecting in-game NFTs from the game's marketplace.
At the time of writing, I have two plots of land, as well as a couple of in-game NFTs that I got from crares. A crate in PsyberX is the equivalent of a Splinterlands chest and it houses five unique in-game NFTs.
Last time I checked, if you hold at least 200K LVL tokens, you become eligible for a monthly crate airdrop. I think there's a 60-day waiting period before the crate airdrop starts coming in but that's all good because I intend to continue buying more LVl and hold these tokens for a couple of years, at least.
As a huge Call of Duty fan, I must say that I'm super excited about this game and I'm also optimistic about it. Having a first person shooter game on Hive would be absolutely awesome and I think I'm going to be quite good at it, due to my experience in FPS games.
I have a good feeling about this game and I suspect that this game will really transform my gaming life. I reckon that when I've sorted out my immediate and medium term needs, I'll start working towards building my own gaming and crypto mining PC.
Finally, in the spirit of the bear market, I thought I'd end this publication with a couple of "what if" situations.
Earlier today, I ran into a publication that expresses fear that Ethereum could drop a further 60% from it's current price. That could get the price to as low as $450 in the process.
So what if Ethereum drops to $400-500 level, will you be buying or will you wait for even further drop in the value. Bitcoin maxis have been relishing the "demise" of Ethereum but then again, they hate everything that's not BTC, so no surprises there.
Speaking of Bitcoiners, Peter Schiff has consistently peddled his anti-Bitcoin views and while the Gold-loving investor has often been wrong about the market, what if Bitcoin actually drops to $10K?
Hive has held its ground pretty well, in the circumstance. However, we've seen Hive at 10 cents before and if the market takes a turn for the worst, how will you respond to Hive at 10 cents?
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