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RE: I Just Purchased A Gold Foil Legendary For $100
That's a bold buy, especially considering that these cards have been falling in price for months. I'm still holding a gold legendary, may the markets turn and the cards take off :D
Its my opinion prices are falling due to the fact that booster packs are now being giving out for free hand over fist in the leagues. People are getting valuable cards for free and selling them for well below market value for a quick sale because any sale is 100 % profit.
That combined with little to no cash rewards being offered in Steem-Monster games / battles has everyone selling for below market value. Once the $100 daily / $1000 weekly tournament kicks in I believe some of these cards will start to peak in price again due to FOMO and a new batch of players entering the game.
The price of Steem being so low is also pushing down the Fiat value of these cards since it takes less fiat to accumulate a decent amount of Steem. But like all investments only time will tell the tale. I look forward to looking back on this thread the day that I decide to sell this card and calculating the numbers to see if it was a good decision or not.