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Seeing a good trading opportunity on SPS

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Avatar for bala41288
Written by   43
1 month ago

I was looking forward to do a quick trade on SPS. I was wondering if the price of SPS would have a nice pump in the coming days. Thanks to @rehan12 who gave a heads up in Neoxian City. I understand that it is quite obvious that the price of SPS would see a good pump before the pack sale date. The main reason is that people who are staking more SPS would be getting more vouchers that can be used to purchase CL packs.

There will be a huge demand for SPS if I'm not wrong as there is also an additional 20% discount for people purchasing CL packs with SPS. I understand that there will also be people who would be selling their SPS to book some profits every day but in spite of that, the demand will be good until the pack sale date.

Trading opportunity

I'm guessing that this can give a good trading opportunity for people who would like to trade and get some quick bucks. It is going to be a battle between people who are planning to invest and buy SPS and with people who are planning to sell their SPS and book profits. I wanted to make use of this opportunity and try doing some trading. I understand that this is a very risky business as the price of Hive is also fluctuating so much right and is also unpredictable. It is quite likely that the price of Hive can drop in the coming days.

But I'm still confident that the SPS market would definitely give some good returns while trading and I'm getting my hands on it. I luckily have some Hive on one of my alt accounts and would like to use that to purchase SPS right now. I'm not going to force the purchase but just place a buy order in the market. I'm also not planning to get greedy so, I'm just placing a buy order only for 0.8 Hive. If it gets filled, I will keep holding that till the pack sale date.

My strategy

I have no plans right now to sell the SPS that I'm planning to purchase. But the very first question in my mind is would it get filled in the first place? I hope it will because in the last few hours I was able to see the price of SPS climb from 0.7 Hive to 0.8 Hive. I already was looking forward to getting inside at 0.7 Hive but I was away from my computer. Now I didn't want to miss the opportunity so I placed the order at 0.8 and waiting for it to get filled.

My strategy here is to check and see if it gets filled today or tomorrow. I'm 80% sure that it will definitely get filled. The next thing is to wait for the price of SPS to go up. I will decide on the maximum price that would be a good deal to sell SPS. If SPS is reaching that price before the sale at any time, I will be happy to sell my holdings and close the deal.

Yes, I'm also prepared for the worst-case scenario as well. I have currently staked 12000 SPS tokens that I received from daily airdrops. People say that buying SPS at any price is still good because staking it is going to give us Vouchers. If I think the price of SPS is not reaching a good value or if it is not pumping over 1$ before the sale, I would be happy to stake the SPS I bought and leave it there to grab the daily vouchers that I would get. I'm guessing there will be a huge demand for the vouchers after it is out and also a huge demand for the packs as well. So taking that route would be ideal if things are not looking good in the trading aspect.



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Avatar for bala41288
Written by   43
1 month ago
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