I would consider this as a golden opportunity to purchase some SIM tokens as the price is going down. Hive price going up can also be one of the reasons for the same as people are trying to accumulate some Hive with their other tokens and trade them in the market. The price of SIM tokens has been falling for a long time. Right now many people have been dumping their SIM tokens in the market. If you look at the charts we will be able to see how the price is going down.
For a long time, there have been discussions going on about the new edition of cards coming to the market. This would also mean that the first edition cards will go out of supply. It is true that we have not seen any new developments in the game for quite some time. People are eagerly waiting for the same. At the same time, people minting new cards from the game has also reduced so much. But there is still a group of people who try their luck every day by using their SIM tokens to purchase some new cards.
See this as an opportunity
As the price of SIM is very low right now, I see this as a golden opportunity. There are two ways in which this can be seen as a good opportunity. The first thing is the opportunity to purchase more cards this fall. One new card is 800 SIM tokens and it was pegged to 4 Hive at one time. As the price has gone down, 800 SIM right now is only 1.28 Hive at the current price which gives a golden opportunity to improve the city.
We can go with purchasing new cards and try out the luck. If we are lucky we might even get cards that are worth much more than the 1.28 Hive that we pay. This is one strategy.
The next strategy or opportunity would be the trading opportunity. I have done that in the past where I have purchased SIM for a cheaper price and have sold them when the price pumps back to the pegged value of 4 Hive per 800 SIM. Today the price is very attractive and can be considered as a golden opportunity to purchase and hold SIM tokens. When there is big news about new cards coming to the market or any new developments, the price of SIM will obviously increase and we can make use of the trading opportunity by then.
Usually, when the price is very low, there is always panic selling and despondency but bad times are always there for any project. Nobody would have imagined Hive reaching a big height of 40 cents yesterday. Imagine people who would have sold their Hive for 11 cents a couple of weeks back. Patience is very important especially when trading. Sometimes we might end up holding for a long time but after that, the profit that we can reap will be several times bigger.
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Well yes it looks like a great opportunity but do you really think that it will go back to the pegged price of 0.0005 HIVE ? There are chances that it might not right?
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Yes agreed. There is also a high possibility that the price may not go back to the pegged value. But I also don't think @gerber would let the project die like that. If he comes up with more sink for SIM token supply, I guess this problem can be solved. FOMO about new edition cards alone may not help in the long term.
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I understand. I am just continuing to buy the random cards right now which seem to be profitable at the moment to be honest.
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The price is going down because tokens are priced relative to HIVE, and HIVE has gone up dramatically in a short period of time. Tokens across the board are being re-evaluated by all holders as we speak.
Posted Using LeoFinance Beta
It's way cheap right now and it could also be because of increased price of hive token. Thanks for sharing as I am going to buy some today..
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