Should You Sell MANA Now or Ride the Waves

The Decentraland website implores you to “Create, explore and trade in the first-ever virtual world owned by its users.”

Nowadays, it seems as if everyone company with a little extra cash or credit line wants to dip into the “Metaverse.” Most notably, since the $931 billion Facebook, with nearly two billion users, changed its name to Meta.

I already wrote about some Metaverse tokens to buy or invest in, MANA, SAND, AXS, RNDR, and ENJ. However, it’s obvious (at least to some) not every "Metaverse" wannabe will “cut the mustard.” Some will fail. Is MANA one of those, or will they thrive?

MANA’s all-time-high (ATH) was $5.90. It has fallen significantly since then. It is currently (20 Dec 21) selling for 3.16. See the chart below. But is this just profit-taking and part of the current cryptocurrency bear market?

So, what’s your strategy? Are you buying Metaverse tokens? Are you at all interested? If so, will you sell or buy the dip?

Although this is not financial advice, and you should stick to your plan, see the disclaimer below; we will buy on the dip. It’s my opinion that this is a market-wide dip that doesn’t reflect the value of the MANA token.

Why do I think that? If you look at the ATH, which occurred right before the current bears bullied their way into the market. Therefore, I believe it was a combination of things that caused its downward spiral, and I will buy it whenever it dips below $3.00.

I think MANA is an excellent project with possibilities. Some are looking for a $90 MANA. Once again, this is purely conjecture, so do your research and stick to your plan.

Decentraland WHY IT WILL REACH $90?? - Decentraland Price Prediction - MANA Coin?

#MANA #Decentraland #NFTGaming #Crypto

I think three other considerations are weighing on the cryptocurrency market and its ability to recover: year-end sales to offset gains for tax purposes, the lure of taking profits to buy Holiday gifts, and the price of Bitcoin (BTC).

Like it or not, BTC drives the train regarding the overall cryptocurrency market. When BTC heads south, most coins and tokens will follow. Due primarily to the “herd mentality,” nothing happens in a vacuum.

Evidence of herding implies that the trading decisions of crypto traders are not made in isolation. Instead, crypto-traders ignore the individual characteristics of cryptocurrencies and herd on the performance of the cryptocurrency market. — Science Direct.

Thus, BTC sits at $46,449.78 today, 20 Dec. 21, down from an ATH earlier this year of $68,789.63. Typically, whenever BTC dips, most of the rest, with very few exceptions, follow. Of course, if there were terrific/terrible news, you might find a few strays that buck the market.

@stephencurry30 @Decentraland

Riding the Waves

Unless you live totally off the grid, your finances will determine how you live. Even though they say, “money can’t buy happiness,” it can buy food and housing, which could make you happier.

Therefore, you should have a financial plan that includes investing whatever you can wherever you are. With financial institutions like Robinhood, Merrill Edge, E*Trade, and many other commission-free trading platforms with small or no minimum initial deposit, pretty much anyone can invest. Even if you only have $5.00 a week, you could see that grow over the years with dollar-cost-averaging (DCA).

OK, so what do you do with the MANA you are already (Hold On for Dear Life) HODLing?

Ride the waves? What do I mean by riding the waves? You can hold your tokens and earn interest or borrow against them. I am definitely NOT advocating borrowing against your crypto; I am merely saying that is an option.

However, Vires Finance pays up to 25% annual percentage yield (APY), which means basically you will earn money on interest and your capital.

Another choice is BlockFi, which reportedly offers a $250 signup bonus and 9.5% APY.

Gemini Earn, Uniswap, and others can earn interest on your cryptocurrency. Be sure to check around for the best service, what are the in and out fees to ensure you will not pay more in fees than you could earn in interest. Also, check on income tax events that could be triggered when you deposit or withdraw.

Many people feel they shouldn’t invest because it will change their tax bracket; I say poo to that. That’s like saying I’d get a job, but I’d have to pay income taxes.

Get over it. We all have to pay for roads, schools, police, fire, and other social services. It’s not Socialism. It’s helping your community. IMHO.

Once again, these are NOT recommendations. I am merely pointing to some possibilities.

DISCLAIMER: This article is for entertainment and informational purposes only. It should not be considered financial or legal advice. Not all information will be accurate. I am not a financial adviser, and anything I propose should be considered friendly banter to show you what is possible if you invest your money in these vehicles. However, there are no guarantees. Consult a financial professional before making any significant financial decisions.

#Cryptocurrency #Bitcoin #CryptoInvesting #MANA #Decentraland #Metaverse

Stephen Dalton is a retired US Army First Sergeant with a degree in journalism from the University of Maryland and a Certified US English Chicago Manual of Style Editor. Also, a Top Writer in Nutrition, Travel, Fiction, Transportation, VR, NFL, Design, Creativity, and Short Story.

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