Bitcion Cash Investment Gone Wrong? The Death Cross Effect

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3 years ago

June 22, 2021

"Bitcoin Cash brings sound money to the world, our future digital cash."

Indeed it is and that's the reason why I love this cryptocurrency. In my one year of staying on this platform, no doubt that BCH is a valuable asset, a perfect medium of exchange, brings sound money to the world, our future digital cash.

Those are the main reasons why I have invested some of my money in this cryptocurrency because I believe in this coin. In my article One BCH, Today Is Worth Two Tomorrow, I have shared about my BCH investment using my real money.

That was when BCH price reached $1400 and it even continued to its new ATH at $1650 last May. From $340 price at the start of the year to $1,650 five months after, it gave us more than 400% gains in our BCH portfolio and I've got $954 profit from my investment. The BCH I have bought from the FORTH I have sold also gained more than $2,000 profit.

But happiness turned to sadness because a week after, the sudden market crash happened due to escalating FUDs around the crypto market affecting Bitcoin and pulling down most of the Altcoins including BCH. The recent crash just proved that Bitcoin is not the real rival of BCH, but the real world. The supposed to be normal corrections continued to go down almost reaching the bottom. The downfall of BTC is the downfall of the whole crypto market, if not, only a few Altcoins will survive.

Related Article: Bitcoin Is Not Our Real Rival, But The Real World

The long bear market just robbed more than -50% of our crypto portfolio. And to take advantage of the bear market, I also have added some BCH which were saved on my coins.ph wallet and not only BCH but also ETH, since it was the perfect time to accumulate more cryptocurrencies. Because of the market crash, I've lost more than $2,500 from the BCH I have invested, both from selling FORTH and buying BCH using my own money.

And we thought that the recent uptrend will continue until the market recovers from the crash, but just recently, another source of FUD appeared and the reason for the current bear market - the DEATH CROSS.

Image source: https://coinquora.com/bitcoin-death-cross-2021-is-here-but-there-is-nothing-to-fear/

DEATH CROSS happened last Saturday, June 19, when the 50-day Moving Average (MA-50) dropped below the 200-day Moving Average (MA-200). The death cross indicates that a bear market is coming.

This Death Cross caused another FUD around the crypto market and at the time of writing, BTC was more than -11% down while BCH was -20 % down as well as the most Altcoins,


Should we be worried about the Death Cross?

The market experienced a bull run last weekend after an unexpected boost from Elon Musk, however, the rally didn't last long as the downtrend resumed over the last few days and Bitcoin tumbled to a $30,000 low. And now, here is the Death Cross, and many traders and technical analysts argued over it. Some say not all death cross indicates bear market, while some traders were insisting that their predictions will play out.

A popular economist and trader, Alan Kruger said on Twitter:

https://twitter.com/krugermacro/status/1404833407650177036?s=20

Another crypto trader gives his sentiment about the death cross.

https://twitter.com/RayInvests/status/1405761989121437704?s=20

But despite some positive news, the death cross FUDs triggered a sell signal and as of Monday morning, Bitcoin sold off by 14% and currently downtrend. So even if there are positive predictions, the fear of most traders about the more downside ahead for BTC triggered them to sell their assets, affecting the rest of the crypto market. But despite some positive news, the death cross FUDs triggered a sell signal and as of Monday morning, Bitcoin sold off by 14% and currently downtrend. So even if there are positive predictions, the fear of most traders about the more downside ahead for BTC triggered them to sell their assets, affecting the rest of the crypto market.

Another reason for the FUD was the report from China last Monday about more than 90% of Bitcoin mining capacity was estimated to be shut down for a short term. The Bitcoin mining crackdown was also the source of FUD's last market crash.

However, some see the recent death cross decline as an opportunity to buy more Bitcoin and more cryptocurrencies. Just like Michael Saylor, the CEO of Microstrategy which added $489 million worth of Bitcoin to his assets.


Bitcoin Cash Investment Gone Wrong?

Bitcoin Cash holds 67% of my crypto portfolio, and because of the recent market crash and this death cross effect, my portfolio lost more than -53% at the time of writing.

The decline of Bitcoin price is affecting most Altcoins including Bitcoin Cash. And we are seeing a negative percentage on our BCH crypto portfolio, but our Bitcoin Cash investment did not go wrong. In fact, the bear market only allows us to accumulate more BCH. No matter what the price is, it is worth noting that, the number of BCH in our wallet is more important. We may be expecting more downside ahead, but let's grab that opportunity to accumulate more Bitcoin Cash. And remember, the lower the price, the higher the amount of BCH we can accumulate.

A death cross is not a reason to sell our assets. Remember that every after the dump, there is always a pump. We just have to wait for the golden cross to happen, after that, let's expect a higher surge of Bitcoin and the rest of the cryptocurrencies in the market. Like for example the last golden cross experience of Bitcoin in May 2020, the crypto surged more than 300% just before the death cross signal.

If the market reaches the bottom, it will be worth buying the dip for those who want to accumulate more. But for others, the best thing to do is to hold your BCH and other cryptos until the market totally recovers. It might be after three months or six months, but let's just wait, and prepare for a tremendous bull run.

Thanks for your time.

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3 years ago

Comments

Im continue to hodl my bch today. Im hoping the bull run will appear so soon. Kaso wala ako pambimi bch now hehe

$ 0.00
3 years ago

Tama ..bagsak man ngayon ang market soon sobra sobra naman ang paglipad. Just Hodl lang talaga . Wag papatalo sa FUD. Time also to aquire more bch, this is the advantage of dips.💕😊

$ 0.02
3 years ago

Tama. Let's just be patient

$ 0.00
3 years ago

I have put my wallet on hold for a while now and I won't take a peek. After the burst comes the boom and I believe it might take a while but we just have to keep hodling.

$ 0.02
3 years ago

Better decision to do 😁

$ 0.00
3 years ago

Hahahaha absolutely. Thank you 🤗😊

$ 0.00
3 years ago

Laban lang! Pero alam mo ang mas masakit? Yung grabe ang baba ni BCH pero wala tayong pambili. Hayst. Ako pala.

$ 0.02
3 years ago

Yun ang mas masakit 😭 kya asa nlng tyo sa read at noise

$ 0.00
3 years ago

we've got to hold it...although di ako nag i invest pero much better to wait

God Bless

$ 0.02
3 years ago

BCH is promising, it's just that.. The FUDs from the real world is concerning.. If not because of them, BCH should be $2000 by now

$ 0.00
3 years ago

Sakin po hindi pa naman masyado masakit, wala pa naman makikita sa wallet ko e haha. Pero hodl lang din ako hanggang mag $500000 yung BCH. hahahaha.

$ 0.03
3 years ago

Ey dami na mo na kaya BCH 🤣 swrte mo kay bot. Swrte dn ako kc affiliate pla kita 😅 salamat sa pag gamit ng link ko 🤣

$ 0.00
3 years ago

Hindi naman po ate 😅 You're welcome po :)

$ 0.00
3 years ago

“The death cross indicates that a bear market is coming.”

Seriously? Hahaha simula pa lang it means may ibabagsak pa😆

$ 0.00
3 years ago

Wow am new to bch and have missed alot

$ 0.00
3 years ago

hodling muna... buy more bch na muna..hehe

$ 0.01
3 years ago

Brace ourselves. Im just holding my bch right now. I hope the recovery will coming so soon.

$ 0.01
3 years ago

Hehe just the beginning of the bear market 😆

$ 0.02
3 years ago

Kya nga 😭

$ 0.00
3 years ago

Nothing can scare holders we'll hold pur BCH till end!!!!

$ 0.02
3 years ago

There's no end 😊

$ 0.00
3 years ago

Yep... Will just keep on hodling until the golden cross happen 😍

$ 0.02
3 years ago

Tama yun lng choice meron tyo 🤣

$ 0.00
3 years ago

😂😂😂 true kung gusto makabawi sa nawala hodl lang hanggang sa dumating yang golden cross na yan 😂

$ 0.00
3 years ago

Basta ako HODL! Malaki tiwala ko kay BCH kaya mag stick ako sa paniniwala ko, chorrr haha. Ako'y hindi nagasisilip sa wallet ko kaya sana yong iba din, masama sa kalusugan pag mayat maya ang silip ee haha

$ 0.03
3 years ago

🤣 masama sa eyes at sa heart 🤣

$ 0.00
3 years ago

Kaya nga ahahaha, ung iba malamang sobrang sobrang sakit na ng puso lalo na unh mga baguhan aguyy 🤧

$ 0.00
3 years ago

Simula plng 😭

$ 0.00
3 years ago

At some point, I stopped checking my portfolio because I might be tempted to sell everything off but I just want to believe we are in a stage where we need to be patient and wait for the death cross to turn to a golden Cross for us. I believe we would all scream in happiness when there is high increase in our wallet.

$ 0.03
3 years ago

We will.. Let's just be patient in waiting for the golden cross

$ 0.00
3 years ago

Chinese miner are main reason for this FUD. I have stopped to check BCH market price. Without any tension I would like to invest and spread awareness about BCH. Sooner its pumps go as higher as it deserves.

$ 0.03
3 years ago

Keep it up 😊

$ 0.00
3 years ago

To be honest, the moment I saw how cryptocurrencies especially BCH value goes down, I panicked and was tempted to just sell my assets. I mean, it wasn't that big invesment but I still toom a risk. Thanks to your article, it became clearer to me now 🤗

$ 0.02
3 years ago

Welcomen

$ 0.00
3 years ago

If take a look at the chart on a short-term basis, it looked scary. But in the long term, it is still +76% from last year.
It's a different story for the newcomers though, but there is a way to cut the losses though.

$ 0.02
3 years ago

Let's hold our earned BCH and wait for the golden cross. Mag hihintay tayo 😁 kahit na ang sakit sakit na sa atay 😁😅😅😅😅😅. Buti na lang talaga at ngpapublish kang gantong article kahit papaano nababawasan ang aking pangamba.😅

$ 0.03
3 years ago

Kaht ako dn naman kinakabahan . 67% sa portfolio ay malaki 🤣 pro tiwala lng

$ 0.00
3 years ago

I got little relieve. I was a little worried about this Death Cross. This Death Cross thing was new to me. to read your article i got clear concept of this death cross.. Thanks for this article. I think many people are worried about it, they will be a little relieved. I have also lost some. Not as like you but the loss is huge for me 🙈 I hope the market recover soon and I can be abke to build my pc 😁

$ 0.05
3 years ago

It's not soon. It will take time. So let's just hold 😁

$ 0.00
3 years ago

How much will it take to pump again 😐😐. Approximately?

$ 0.00
3 years ago

We don't know. There is no exact date here..

$ 0.00
3 years ago

It seems market will remain low for next several months.. this will be the best time to accumulate more BCH ❤️😍

$ 0.03
3 years ago

Exactly, so we shouldn't be worry. The market will rise again

$ 0.00
3 years ago

True

$ 0.00
3 years ago