It’s been 2 weeks now since I sold my Walt, and what a crazy market it’s been!
Just a few days after I sold, a new set of Golden Moments were announced and the market fell into a gem squeeze.
I had a ton of liquidity after selling Walt for 44K gems, so I proceeded to buy the dip, mostly investing in Golden Moments.
But then the market continued to dip, with prices dropping another 10-20%, so I bought into the dip again, picking up more Golden Moments and other blue chips.
Then the new Golden Moments finally arrived, and the prices were way off from my expectations. I was expecting Donald & Daisy to hit 3K, and the Lady & the Tramp to hit 2K based on the prices of the other Golden Moments, and bought in when prices dipped below my predictions.
But then prices continued dipping. And I bought in again lower. And prices dipped even further. A week later, prices were at half of what I had bought in at.
I’ve continued to buy into the dip, but I’ve almost depleted all my funds from the initial sale. I had enough gems to finish the Black Panther set this past week and participate in the drop this weekend, but beyond that I’m pretty tapped out with under water investments until prices come back up again.
The Partners Statue itself is selling right now for 25K and OMI is down below 0.004 as well, so relative to those my collectibles are still performing decently, but I wish I had saved more gems for the big dip we are finding ourselves in now.
A couple lessons:
It’s hard to predict the bottom
I thought I was getting a good deal when prices first started going down, but prices kept dipping further and further after I’d thought we hit rock bottom. Granted, the market was correcting beyond the typical gem squeeze, but I should have spread out my investments further, dollar-cost averaging to get more balanced prices.
It’s almost never worth it to buy right after a drop
Unless you’re hunting for specific mints or flipping, it’s almost never a good idea to buy on the marketplace right after a drop. Prices are almost always too high due to FOMO, and are almost guaranteed to come down during the next squeeze when the true floor reveals itself. It’s fun to have the newest toy, but it almost always pays to wait.
Overall, I haven’t done as well as I could have, but I’m sure most of the pieces I bought will recover over time. I’m thinking I might put a few more gems into the app just to pick up a few more discounts and increase my OMI bag while prices are low, and wait for markets to recover.
