After 401 days in the THORSwap RUNE-BTC liquidity pool...
Today is my 401st day in the Thorchain pool and happens to be my last, for now. I entered the pool 401 days ago with 164 RUNE tokens, today, Iām pulling out 280 RUNE tokens, plus the 53 I withdrew before, I also bought 1 LUNA with 13RUNE at the time, making it a total of 314RUNE tokens and 300 THOR tokens that was gotten as airdrop.
At this point, it seems like a game well played, the final goal is to make money, but to do that involves making several bits of calculative moves, for me, the clearest path has been to acquire as much RUNE as possible and it turned out that the market helped me in achieving that,
At the time of writing this post, 1RUNE - $2.98 after it hit a low of $2.5. At this point, the only way staying in the pool will be favorable for me is if the market keeps dragging in this slo mo mode for the rest of the year which means Iāll be missing out on printing a ton more RUNE.
But what are the chances? Is that risk worth the potential rewards compared to what might happen if and when the market picks up? These are the usual difficult questions that come up every now and then. So this is what I think.
$2.98 is the local floor price of RUNE right now, there are more chances of a upward movement from here than lower given other market conditions are cooperating. Rumors of Thorchain main net launch have been flying around, seems to be programmed for this 3rd quarter,
I expect thereāll be a splash of noise about it, itāll be a good time to trade, if Iām in the pool at such time, Iāll be gaining dollar value but loosing RUNE quantity, so, depending on the magnitude of the splash, a temporary dump is to follow, which will be a good time to get back into the pool to print more RUNE and get out again before the market picks up.
Itās easier said than done though, I could chicken out at any point and ruin the entire plan. I hope not to š¤. Iām presently down in dollar value but Iām up in RUNE. At $10 RUNE, Iāll have made back my investment with some change, at $20 RUNE, I would have doubled my investment with some change ontop. At $50 RUNE. You can imagine.
Ofcourse these moves are subject to change and are depending on the market conditions. If I spot any bearish trend coming for RUNE, Iāll be going back into the pool, likewise if I spot an uptrend in price of Bitcoin, Iāll get back into the pool.
The downside to this is that now all that RUNE is idle while I wait. Iām not used to doing that which is why single sided staking will come in really handy for times like this.
Whether or not I have made the right move, time will tell, I hope I have though. See you next time.
Check out my first 314 days in the pool
Posted Using LeoFinance Beta
