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$1 hive is bearish, opportunity in Chaos and pack purchases has lost pace

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Belemo
@belemo
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4 min read

Have you checked you Hive wallet recently? What you see there might not make for good reading.

The entire market got kicked in the nuts again, as Bitcoin dropped below $40k, while Ethereum and BNB are well below $4k and $600 respectively.

Naturally, the negative impact of this situation has affected the general mood of the entire market. Hive, a crypto that we're all very aware of, has also experienced a serious dump, as it dropped to as low as $1 for the first time in months.

Naturally, it is impossible to pinpoint the exact reason for the situation with the market. However, that has never stopped speculators from giving it a shot.

I try not to read too much into their predictions. For me, I just work with what is in front of me, and what I can see right now is that a lot of people are selling.

This kind of surprise sale will come with a lot of fear. So, the natural order will be that more people will sell because more people are selling.

Interestingly, the fear/greed index will take the market perception and rank it over a period. Yes, it does point at extreme fear but that's only relative.

In reality, the raw number of people that are genuinely afraid keeps dropping. As the days go by and the crypto market continues to exist, the disciples of Peter Schiff who expect the bubble to burst will continue reducing.

Some distraction

I've been able to distract myself from the entire crypto market with my activities on Splinterlands. Buying packs and opening them has given me something to look forward to, unfortunately, that has also been somewhat depressing.

The difference in price between packs in the game and packs on Hive-engine is really sparking my interest. I am seriously considering buying a few packs on the exchange to open for the helluvit.

Well, buying packs for fun is just a thought. In reality, I've been buying more Chaos Legion cards and just levelling up to my battle rank.

At this moment, I'm still in the silver league, so I've been getting my monsters to this level.
I'm trying not to go overboard with my purchases, and only get what I need. However, the plan is to get my deck to a point where any monster I pick is well dressed for the occasion.

I also think that if I steadily buy monsters based on need and then open packs on the side, I'll be able to grow my collection power.

My collection power is higher than it has been in a very long time. Since my goal is to get higher, and also considering how cheap monsters are, I might as well use this opportunity to rise up the ranks.

I'm also trying to spread out my tentacles to all elements. Although some splinters, like water for example, where I sold off most cards I had, will be lighter than others.

More time to buy packs

Still, on the topic of Splinterlands, I've also been looking at the numbers and it does seem like we'll have a decent chunk of time to buy packs during the general sale. Of course, all of it is dependent on the general market condition.

I also think that if we experience a flurry of new players joining the game due to marketing, the interest in Chaos Legion cards will rise.

When that happens, the interest in packs will rise as well. This will lead to more demand in packs.

At this moment though, I don't see such a huge demand pouring in because everybody is poor right now. I believe that this will inevitably lead to an extension of the period of the general sale.

My prediction was that the sale would take two months but I'm starting to reconsider it. I think it might get up to three or four months.

Personally, I'm fine with an extended period of sales. This enables smaller investors that don't have fat piles of cash laying around to slowly accumulate and buy more packs.

Switching summoners

Another thing that's been on my mind for a while is transitioning from Untamed summoners to CHaos summoners. Well, not for all Splinters though.

Out of the lot, I'm particularly pleased by the Earth, Fire, Dragon and Death summoners in Chaos Legion collection. Out of this list, I've still not gotten dragon and Death up to a decent level.

The dragon summoner is legendary and too expensive to purchase bulk. I might still take a gamble on it to get it up to level 3 at least though. The death summoner isn't really on my mind because I have a level 5 Contessa'Lament.

I already splurged a bit on summoners yesterday, putting at least $300 into upgrading them to level 5. I plan to slow down for now, and just get the remaining monsters through packs, rather than strain my limited resources that I'd like to use for buying packs.

My luck from packs has been terrible, but at least I've got some legendary monsters. My collection is growing every day, and as I buy more packs in the coming weeks, I expect y deck to get stronger.

Always remember that it is a marathon and not a sprint. Take it one day at a time and make the best out of every situation. Have a wonderful day ahead of you.

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