How Do We Make The Best During The Bear Season?

July 1, 2022

How Do We Make The Best During The Bear Season?

June was really frustrating for me. Although I earned 0.91378862 BCH in June, that's only equivalent to around $129 or even less at the time of writing. Moreover, I did not monitor my expenses. After downloading my data this month, I realized I spent more than 0.4 BCH in sponsorship, tips and boosts. Then again, I don't think I would have earned 0.9+ BCH if had not boosted a number of my posts. I also had to sell around 0.27 BCH out of need.

At the end of June, I had 0.59761227 BCH left.

My Noise activity did not fare even better. I earned less than $9 in June. My more than 2K subscribers does not actually help. I think more than 90% of them are either inactive or marked as spammers. Frankly, speaking, I'm getting frustrated. How I wish I can purge those inactive subscribers.

Image by Gerd Altmann from Pixabay 

Greetings my dear readers. yeah, I feel frustrated because of this prolonged bearish market, my income was very low, yet, I am reluctant to sell. I only sell when I badly needed the cash. To think, I have no other income starting last month, and it will like this until August unless I do something drastic.

Looking back.

I wrote sometime this year that my goal is to save 3 BCH by July or August. I am close achieving that now. If don't sell any more of my BCH, I already have 2.5 BCH. However, when I wrote my goal, the price was hovering over $500. In terms of dollars, I was aiming to have $1,500.

Sadly, that is not the case now. 3 BCH is only a little above $300!

Keep HODLING!

Sometimes, I wanted to sell, little by little. It's the only way to get the most of what I have earned in the past few weeks. As you may have observed, the average price of BCH seem to keep on dropping each week. But I kept on HODLing! As much as I wanted to sell, so I can at least enjoy part of what I have earned, I did not.

Probably it's hope against hope that the cyrptocurrency prices will start to recover anytime soon. The thing is, it looks like the bear is staying a little while longer?

How Do We Make The Best During The Bear Season?

That's the big question. And I don't have the definite answer. But I do have to make my own plans.

I will try to make this quick and give you an overview of what I have in mind. However, I will not give specific strategy. I will just share with you my idea.

Disclaimer

As a disclaimer, what I will share with you here are just my own ideas. There is no guarantee that it will work, even for me. But I know I have to start doing something. What I can suggest is, do your own research and make your own strategy.

1. Forget the past and make a fresh start.

I will either save everything that I earned in June or sell at least half of it. I think I will go for the second option out of need. Then I will start earning again, with the current price in mind... $99. Oops. Make that $100. So, if I earn 0.05 BCH today ($5), I'd be more than happy if the BCH gained 5% tomorrow. I will get 0.0525 BCH then.

2. Daily Monitoring

This is easier said than done. And time consuming too. But this needs to be done. I can make my own spreadsheet or check out my daily earning using the tool provided by read.cash.

To do this, you go to (in your Readcash)

• My Account

• Block Chair (under Your Wallet)

• Wallet Statement

• Select the date and download.

3. Keep Grinding and Monitor Your Expenses

I believed that one of the reasons, Rusty never fails me is, I always give a tip to the articles that I liked. it's not much, but I give around $0.3- $0.5 or even $0.10 if I really appreciate the article. Sometimes, I will just leave a tip even without commenting.

I always tip comments that I appreciate too.

But with what I have learned last month. I'm not sure if spending 40% was the right thing to do.

Find additional sources of income.

I spent some amount of time practicing my digital illustration skills. I will start selling gigs again in Fiverr and I am also revamping my Redbubble store. These are just two of my options. I am still looking for other options, including writing for other paying sites.

In Closing.

We can never rely on one or even two sources of income. It always pay to have more. Moreover, it will be extremely advantageous if we can set up passive sources of income.

Thanks For reading.