My Simple Strategy For Lbry & Uptrennd

My Simple Strategy For Lbry & Uptrennd

By Sapphire | Sapphire Crypto | 17 Nov 2020


Considering Past Performance

I make use of a number of sites to share my content and have been considering what would be the best thing to do with my earnings from Lbry and Uptrennd, as current token values are not very high in comparison to past prices. Unfortunately written content still appears to be excluded from Lbry's reward system, so daily rewards are my only income here currently. In light of the low earnings, it makes sense to just accumulate these tokens and to basically forget about them until late 2021!

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Considering that LBC once traded well over a dollar, selling my tokens @ $0.02 doesn't make much sense at all. This is especially true for me, as I am expecting the altcoin market in general to begin lifting soon. Although the LBC price is not likely to reach those levels again, it is fairly safe to say that it should appreciate significantly in the following year.

Uptrennd Is A Current Buy & Not A Sell

Recently the price of 1UP surged on news and DeFi integration during the DeFi rally and managed to surpass $0.06. Currently 1UP is trading at $0.0035, which is more of an accumulation price than a selling zone. As alts begin to rally and Uptrennd announcements become reality, the price should begin to rise again. This is a good time to level up on the platform, as apposed to selling. It will cost users less in dollar terms to increase their rank.

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It seems almost foolish to be selling these tokens at these levels and so I have decided to hodl both 1UP and LBC until I am either happy with the value or I see signs of the market topping out. Worse case scenario is that I will be able to level up to the moon on Uptrennd or stake my LBC on LBRY. In a bull market my bias will shift bullish but I still have to consider what I can do if certain projects choose to rebel against the market trend. 

Exit Plan

This all depends on when I exit and if I am forced to exit. Ultimately these tokens will be converted into BTC but this might not be immediately. If I exit at the peak of the market, I will most likely move into a stablecoin and hodl well into the next bear market. Depending on macro trends, the next Crypto winter may actually be a lot warmer than 2018 but it is still too early to start casting predictions at this stage.

This is when I will use my stablecoin balance to purchase BTC. Alternatively, I will move straight into BTC once I offload my LBC and 1UP and lend it out on BlockFi.

So I will just continue hodling and earning tokens until I consider an exit either profitable or a necessity. Until then, I keep watering!

 


Sapphire
Sapphire

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Opinions are my own and not financial advice.


Sapphire Crypto
Sapphire Crypto

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Opinions are my own and not financial advice.

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