October 1, 2021
Time of writing: 12 pm 09/30/21Before anything else, I would like to say, happy first day of October! And let's hope for a better October. Christmas is quite approaching, are you ready for it? 😁
Let's start the recap.
A Quick Recap (BCH and the Crypto Market)
Turning back the hands of Augustus, we have seen how Bitcoin Cash and the crypto market moved uptrend. From BCH's volume of $2.5B and marketcap of $10.3B at the start of the month to $4.7B volume and $11.9B marketcap by the end of August with the highest price of $713+ on the 16th day of the month.
The price declined a bit but managed to maintain its pace above the support level for a few weeks. And on the first week of September on the 6th and 7th day to be certain, it drastically went up, crossed the resistance level, and reached $800 price for a moment. BCH marketcap rose to $14.9B based on Coingecko's historical data.
The pump of Bitcoin Cash price and the rest of the cryptocurrencies in the crypto market was due to the huge leap of Bitcoin's price as it crossed over $52,000, turning the market into green for a few moments. This, perhaps due to an event marked in crypto history.
September 7 marked a plot in the Central American Country and Crypto history when El Salvador declared Bitcoin as the legal tender within its community. Many were expecting that the said declaration would support the bull rally and would push BTC's price above its resistance level.
Unexpectedly, the bull got tired easily and the market drastically dumped shortly. Later that day, the president of El Salvador posted a tweet stating that they bought 150 BTC in the dip.
Was it a coincidence, or intentional?
Some speculations circulated on Twitter say that El Salvador intentionally sell BTC so they could buy more in the dip. A clever act of them, but giving small investors a huge loss. The massive dip across the crypto market led to delayed transactions in some crypto platforms. And the real reasons for the massive dump are still being speculated.
More FUDs and dumps followed
After the above-mentioned dump, another one followed when China crackdown on Bitcoin mining and trading supported by ten agencies. This is perhaps the most comprehensive regulatory movement in China's crypto regulation history.
This wasn't the first time that China banned Bitcoin mining. The same thing happened last May that tumbled the majority of the cryptocurrencies down to the bottom, including Bitcoin Cash which resulted in a bloody market crash. That was after several green days in the crypto market making some crypto hit their new ATHs.
Indeed, Bitcoin is not our real rival, but the real world. Powerful countries like China and the US are always the source of FUDs in the crypto market. Every time we think that the market is recovering, that's the time that these FUDs are entering the crypto-verse. It is inevitable like the volatile market.
Should we worry about the dumps? Bitcoin Cash fell to rank #19.
It is still vividly clear the day when BCH reached its new ATH above the $1500 mark. Giving five digits (in dollars) in my crypto portfolio which was equivalent to more than half a million in my fiat currency.
Unfortunately, the happiness we contained seeing quadruple digits in our crypto portfolio was only short-lived because the market crash followed. And my goal to achieve 1M in my fiat currency before the year ends has been postponed, lol.
And at the time of writing, BCH fell to rank #19 from the top 10 last May.
Should we worry about it?
Some would think that dumps and bloody markets are scary as they might lose their crypto and investment. This usually happens to newbies and NOOB to the crypto-verse phenomena. Some are skeptical to continue their investment and would pull them out amid the bloody situation. Even we, who stayed a little bit longer in this crypto-verse are still being affected by the fear, uncertainties, and doubt (FUD) as well because it is something unavoidable. And most especially for some whose investment is at stake and that's the only thing that could suffice their needs.
However, we shouldn't worry about it because we are lucky to be inside this BCH community.
Noise.cash and Read.cash are still giving us passive income amid the crypto market dumps. By just posting at least one article per day here in readcash and making some noise on noisecash, we are entitled to earn BCH and the new readcash tipping system even gives our single article a chance to accumulate more tips for a few successive days. So even the not so interactive ones are still receiving upvotes from the bot, but the active ones are being rewarded more. (That's the key to higher earnings)
Moreover, the launching of SmartBCH gives us more earning opportunities. The first-ever DEX of smartBCH, Benswap, has conducted a presale for its governance token $EBEN and those who have participated were able to earn and get back their investments in just a few days through staking and the increase in $EBEN's price.
Different airdrops by different SmartBCH SEP20 tokens were also conducted which gave us profits from the free tokens we received. Although some rug pulls happened, the valuable ones remained. The longer we hold them, the higher the returns as their prices still have chances to increase in the future or once the market gets back on track.
Even the different Meme Competitions of different Smart Tokens also allow me to get free SEP20 tokens. Because of this, I got 10K $KTH, 1M $ARG, and 100K $LEAP aside from the ones I got from different airdrops.
Rather than worrying about the dumps, better take that opportunity to accumulate more BCH and other cryptos. The lower the price, the more crypto we can accumulate.
Some of my September Profits
In just a few days of staking and selling some tokens from the drops, I was able to gain a few hundreds worth of BCH from them and I was able to get back my initial 0.3 BCH investment in EBEN presale.
Through this profit, I was able to collect more SmartBCH SEP20 tokens. $EBEN, $CATS, $KTH, and $AXIEBCH are among the tokens that are giving me higher returns. I may have lost some tokens due to impractical acts and I did not take the price surge as the chance to sell some before the prices dumped, but what matters more is the profits I gained.
EBEN staking on Benswap gave me 284.583 EBEN profit this month, not including the ones I lost due to futile acts caused by some FUDs, and it should have been more or less 400 EBEN profit by now. And currently staking a total of 1,414.327, almost 200 EBEN of which are my new investments and I spent 0.44 BCH on it to cover up some of my losses and took the opportunity of its dump price.
Readcash and Noisecash September earnings
Moreover, despite the zero heart value I experienced on noisecash for a few days, I was able to accumulate more than half BCH this month, unexpectedly. Some were sent to ate Pachuchay as a small help.
My readcash earnings on the other hand decreased from last month, but still a huge profit and a great blessing for me. And if I would base my one-month upvotes on 30 articles I posted, the total is $448.03, but I only got $287.01.
Total: 1.18782334 BCH
That is because my act of giving back to the community continues and I maintained my diamond badge beside my name. Other reasons include the decrease in the price of BCH. Even though I dropped to the top 8 due to inactivity for some days because of participating in different airdrops and busyness at work, what matters to me is my act of giving back to the community that others can't maintain.
Road to 6K subscribers on noisecash 😁
The number of my sponsees has been added as well and I currently have 105 users on the list. Some are not renewed yet, I'll work on it this weekend.
And I would like to take this opportunity to thank my awesome sponsors. @LykeLyca @CoquiCoin @MegaKyodaiBanrai are my new ones. Your payments help me fund my sponsees and increase their sponsorship payments as well.
Total Bitcoin Cash
I currently have 13+BCH excluding the 0.95311754 BCH I invested in SmartBCH and some BCH I used in buying ADA. It should have been 15 BCH by now.
Closing Thoughts
The bloody episodes in the crypto market should not be the reason to be demotivated and discontinue your journey in this BCH community and crypto-verse. Rather, take that opportunity to accumulate more crypto, so that when the market gets back on track, the outcome of your labor would be fruitful.
Among all the crypto communities, BCHs is the best as it never stops giving us rewards amid the volatility of the crypto market. With its new projects and SmartBCH, we will expect a better BCH ecosystem sooner or later. We just have to trust this community and be grateful for the blessings we are receiving from them. Above all, this is all thanks to the great individuals, Simon the creator of these two awesome platforms, readcash and noisecash, and sir @MarcDeMesel for continuously funding the platforms.
Because of their efforts and sacrifices, we have been blessed with Bitcoin Cash and we were able to help our families, provide food on our tables, support the studies of some students here, and help those who badly need our help, like ate @Pachuchay (please refer to this article if you want to give some help as well). Small or big, it does not matter. What matters more is the act of kindness.
To sum up, September has been a fruitful month for me despite the dumps in the crypto-verse and humps in my real world. This only shows that hard work and perseverance could help us attain our goals and the success we are aiming for.
Hello to better October and thanks for reading 😘.
Big congrats to you. You are at the level I can learn something from 🙏🏾