Breaking Up With Crypto

40 129
Avatar for Eybyoung
2 years ago
Topics: Crypto, Dip, Bear Market

Breaking up with someone but remain friends is a talent. So maybe it's possible to break up with crypto but remain in crypto. Since the last year highs, all we see are the prices of cryptocurrency keep going down especially with BCH.

Other coins manage to make their new all time high even if it's bear season, but with BCH? It didn't even manage to get back on $1000 level when BTC made new all time high at $69000, why? BCH has many haters, most of the whales in BCH are also BTC maximalist that got their BCH after the hard fork. When they decided to massively sell their holdings, it hurts BCH price the most.

Some of them just used it as collateral in Celsius then buy other coins, while some keep shorting it in Binance. Did you remember past few months BCH is out of stock in Binance? Causing them to halt withdrawals. BCH doesn't have any congestion problems, so what's the reason they're halting withdrawals? It's because they're out of stock, they have to buy on other exchanger so they can met the withdrawal demands, I'm not sure with this but I read it somewhere I think Pantera and other BCH folks in SmartBCH Telegram chat.

When you buy BCH that time, you can see it on your account that your trade was executed but when you withdraw it, they don't have it. If it happens for several times and it can happen again and again. So you should not keep your all your BCH in any exchanger if you plan to hold it for long term.

With the current market situation, it feels like I wanted to break up with crypto, especially that my all time favorite coin keeps disappointing me in price (BCH) although with it's real uses case and fundamentals it doesn't disappoint me but how can others see it's potential if it's price keeps going down in the hell? Only $20 to go, BCH price will be below $100.

They said, prices doesn't matter. For me it does, because if it's adopted as peer-to-peer cash when we buy any commodities and services prices are based on dollar. Nobody wants to see their money to be used in paying merchant keep going down. Although 1 BCH is still 1 BCH, if it keeps falling.. I think it's not good, the prices won't matter anymore if prices of any goods or services will based on sats as well.

BCH all time low is $76.93 as per CoinGecko data tracker but in CoinMarketCap it is $75+.. that was last December 20, 2017. I think we are really near at the real bottom, if BCH price will touch on the ATL level.

Am I losing my trust with BCH? No, but I don't expect too much anymore.. so if it's price keeps going down or even up it won't affect me mentally anymore.

I'm breaking up with crypto mentally, but not literally. It means I have to condition my mind that crypto is unpredictable, very volatile and highly speculative so whatever the market sentiment is, it won't affect my mental state.

It's not BCH alone that keeps going down, there are more coins that are even worst due to pump and dump mechanism but I'm only pointing out with BCH because it's the largest portion of my bag. Even if I have 10 BCH or more with the current price, it doesn't value much at all.

I don't want to trade it either as I am really aware that not your keys, not your coins if I put it on exchanger. I am a risk taker, but I can't risk losing all of it if ever exchanger will start shitting their users, especially Binance that keeps hurting BCH price.

So I'll just keep it in my wallet, wait until it recovers.. I'll trade some of course, but not all. I am talking about my holdings, but I'll still do hustle to earn some of it, for my expenses this month and onwards.

I don't know, what I am trying to say in this article, if this made sense or not haha! Whatever.

More Crypto Articles:

Not Your Keys, Not Your Coins

Bitcoin Cash (The Real Bitcoin - Arguments)

SuperUMAn Journey: Documentary #1 - Starts Blending

Fear, Doubt & Uncertainties

Basic Concept Of UMA Protected Tokens

Understanding TerraUSD & LUNA Crash

Welcome To Bear Market

Until When Will Bitcoin Cash (BCH) Stays In The Bottom?

PAWNing Bitcoin Cash ($BCH) Via BlockNG

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Ending My Pandaland Journey

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Tara Magtanim Nang Puno: Retweet To Plant A Tree 🌴.

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Date Published:

June 15,2022(Article#:7)

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Avatar for Eybyoung
2 years ago
Topics: Crypto, Dip, Bear Market

Comments

I did that a long time ago haha, even break and forget finding the day where I will look at the chart and reach a new ATH maybe in the next few more years, lol. Painful break-ups again hehe.

$ 0.00
2 years ago

Good thing, I converted my 1 BCH at $194. I still have some in my wallet, and it's good to hold it right now.

$ 0.00
2 years ago

At this rate, I'm scared it might hit that all time low. It's a challenging period for most of us and I can only hope things pick up soon. I didn't know Binance had that withdrawal issue but like you said, it's smarter not to keep it all in one exchange.

$ 0.00
2 years ago

If you want to read more about Binance and Celsius hurting BCH price you can read more in Pantera's article, just forgot the title.. yeah, we should not put everything in exchanger, not safe at all.

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2 years ago

Thank you so much, my friend. 🤗

$ 0.00
2 years ago

We are so connected with love to BCH that we can't separate from it. Break up with your boyfriend will be more painful same now with crypto 😢 sister.

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2 years ago

Hahaha losing money magically is more painful than breaking up with boyfriend 🤣

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2 years ago

I haven't sold anything pa gyud ate haha never lose hope kay for sure mo bounce back raman jud ni ba

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2 years ago

Oo mo bounce rajud ni pero dugay dugay pa gyud.

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2 years ago

Taking a rest. Almost pulled out but then again I know id be putting in some again once it starts pumping. But oh well... Seeing it go lower and lower every hour is not exciting....

$ 0.00
2 years ago

Haha di na talaga exciting noh parang nakaka stress talaga sya pag babantayan mo 🤣

$ 0.00
2 years ago

When the decline first started, I stopped my buy/sell transactions and stopped checking my wallets. I think the markets will recapture the uptrend from December 2017 you mentioned to the end of 2021, but it will take some time. I think that the process is similar to 2017 - 2021 and will continue the same starting from the end of 2021 until 2025. 2024 and 2025 will be when new records are broken again. Those who are patient will win, those who have to break their crypto will not benefit from the rises. The next 4 years will be a repeat of the past 4 years, but I must say that these are my own guesses. There is always room for error.

$ 0.00
2 years ago

I am with your guesses, just like 2017 it will take time to recover like in 2021 so it's take that long to recover.. those who hold for long term will win, indeed. But let's see since crypto exposure is better now than the last 2017, so there maybe a bit difference this time.

$ 0.00
2 years ago

With crypto going down, I am definitely feeling the heat of the recession. i feel it is going to be lot harder from this point onwards. I know for sure that recession would make us sell some of the times. But I am trying to hold till the BCH recovers then stablecoin to FIAT is the final journey. Let's see where things go from here.

$ 0.00
2 years ago

Same, here.. I can't sell majority of my BCH at this price much more if it goes down even more, so I'll just hold it, wait until it recovers just like you.

$ 0.00
2 years ago

BCH and other cryptocurrencies are technology-backed financial instruments. Sometimes, the tools become "blunt," and the owners need to "re-sharpen" them. The unconditional love of the users/holders of cryptocurrency can't make them "sharp" again.

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2 years ago

I think, the technology functions remains it's just that many are speculating and playing it..

$ 0.00
2 years ago

Siguro nga maganda makipagbreak muna ngayon kasi madugo talaga. It hurts to see BCH fall deeper. But not to the extent na kalimutan na lang. I mean, its okay keeping BCH though not minding the deeper it falls so it wont give heartaches and headaches.hahaha

$ 0.00
2 years ago

Eybbbbb, nabasa ko sa comment mas better ba BUSD kesa USDT? As for usdc stablecoin din un no? Aguyy akoy trade ng trade pero usdt/bch pair.

And ako diko nilalagay lahat ng bch ko sa binance. Pinapalaki ko lang babalik ko din un sa main ko soon

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2 years ago

Oo mas prefer nang mga whales now USDC at BUSD.. kesa USDT. Kaya ako pag mag sell ako sa USDC or BUSD pair na muna..

$ 0.00
2 years ago

Okie okie kuuu, bat baga naga usdt pa ako. Aigoo

$ 0.00
2 years ago

Talaga iba ngayon ma'am eybyoung nuh. Grabe ang market ngayon nakakalungkot pero tuloy parin ma'am eybyoung. Any amount na ma earn still it's a blessing.

$ 0.00
2 years ago

The going dip of bitcoincash as really affected people a lot. I have had some words about investing in crypto, they said invest what you can avoid losing.

$ 0.00
2 years ago

Though di ako gaanong active this past weeks, pansin ko din talaga yung pababang BCH natin ngayon. But ang masasabi ko lang, hangga't may pwede pang kitain, go pa din. Then kung kayang i hold, hold lang. Malay natin, sa susunod na bukas eh biglang, Boom! Ang dami na nating millionaires. Hehe. Pwera na lang ako kasi wala naman ako'ng hold ni 1 BCH man lang.. Haha

$ 0.00
2 years ago

Oo nga eh, malay natin.. expect the unexpected na lang talaga, at wag umasa haha para di masaktan.

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2 years ago

Korek ka diyan sis.. Hehe..

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2 years ago

Gawin nalang nating hidden wealth Yung hold natin. Baka pagdating ng panahon million na Yan 🤣

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User's avatar Yen
2 years ago

Ganon na lang talaga dapat isipin natin tapos yung incoming earnings e sell na hahahaha

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2 years ago

Naalala ko na Naman Yung tinalpak ko hype na Yan haha

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User's avatar Yen
2 years ago

Hahaha talpak pa more, ako din naalala ko yung naipit ko na naman kaloka 🤣

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2 years ago

Kaurat nga. Napasama pa pagbabasa ko ng mga nag tetrade na article dito haha

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User's avatar Yen
2 years ago

Super baba Eybyoung. I wonder too kung bakit may mga sponsors pa din natira sa ating page, maybe because sa date ng pagpasok nila? Nakapending pa din lahat, yong isa naka2 sponsorships pa pero wala pa din.

Nag ATL pala dati ano?

$ 0.00
2 years ago

Ha? Di ko ma gets anong connect nung mga sponsorships sa BCH price???

Malamang, lahat naman nang coins may ATL 🤦

$ 0.00
2 years ago

makaworried jud ning market run and also sa mga exchanger sis

$ 0.00
2 years ago

Dapat talaga wag ilagay lahat sa exchanger as of this moment kasi may mga exchanger na nalulugi pag ganitong bear market. At kawawa yung mga investors.

$ 0.00
2 years ago

tama sis .sayo ako natuto sa mga dapat gawin about crypto

$ 0.00
2 years ago

We are all frustrated at this time. I wrote a similar article yesterday and like you wrote in this article, the whales are the problem to BCH, they are the pumpers and also the dumpers. I have decided not to leave money on the table anymore. Once I receive it I convert to USDT because I believe we are yet to see the bottom of the dip.

$ 0.00
2 years ago

So you converted all your BCH to USDT? that's even worst, USDT has the worst shady history.. If you like to hedge it on stablecoins I think USDC is better, have you not seen that recently USDT drops a little along with UST and yesterday it drops as well and BUSD is even stronger in it. Most of the whales hedging in USDT has lowered their exposure in it by 50% and put it in USDC instead.

$ 0.00
2 years ago

stronger

Well, as long as USDT still remains the most popular used in the crypto exchange and trading I think it's still safe for now. USDT has the highest market cap in the crypto market, and being back by the US government. However, it's just a temporary thing pending when I want to spend my coin. I am not holding forever, whenever there's a need for money and I don't have Fiat I sell to meet my needs.

$ 0.00
2 years ago

USDC is a public coin too.. well, it's your choice though my friend, so dyor :)

$ 0.00
2 years ago