"Bears Come, Bulls Go, I Stay", Because Bitcoin Cash Works

Read.cash and noise.cash are now part of my cryptocurrency journey for more than a year. Partially the tips from these websites, together with some trades, added to my BCH position, and BCH became a significant part of my cryptocurrency holdings.

I don't see Bitcoin Cash solely as an investment, though.

Considering the current adoption rate, Bitcoin Cash will soon be broadly accepted by merchants.

These platforms infused me with a personal sense of commitment towards Bitcoin Cash and its community. While I didn't expect to become passionate about Bitcoin Cash two years ago, still, I feel connected with this community in many points.

I received numerous decent BCH tips, mainly from Marc, and while some writers received ten times more than me, when the bears came, they didn't stay as they previously declared.

I wasn't expecting speculators to stay during bearish times, not just in Bitcoin Cash or read.cash, but in crypto generally.

From my experience at the beginning of the previous bear market (2018-2019), they all abandoned ship right when the first difficulties appeared.

They will be back, though, approximately in one year and a half, when crypto will once again become "hot", and "trending".

What is my plan with Bitcoin Cash for the Bear Market?

I'm going to respond to this question by quoting a previous friend of the platform:

Times are rough, there’s not a lot of money flowing in the markets, people are depressed and then run from crypto leaving their accounts inactive until the next rush… unless you don’t care about micro price fluctuations and are looking at the long term fundamentals.

(source)

Well, inspiring words, yet, actions should also follow.

Bear market or not, my target is to reach 100BCH in 2022.

Simply because the "long-term fundamentals" are there for Bitcoin Cash.

The plan will not change as I have everything covered, the price decline is devastating in terms of USD, but as I have mentioned before, as long as I'm increasing my BCH it is all fine.

Soon, our cities will become the next St. Maartens, St. Kitts, and Townsville.

We won't have to live in fiat, but Bitcoin Cash solely will do the job.

The profits in terms of USD will easy come and easy go. I can't trade and lose a significant part of my BCH to fees or trading mistakes. Cryptocurrency trading, for the most part, is a mistake. We have no psychic abilities, and we have no inside information either to know when prices will drop.

Sometimes we can suspect and gamble on the price, and the odds may be increasing towards making a decision, but one only needs to know who profits most from trading.

Trading is profitable for the exchanges, not the traders.

During April and May 2021, I sold some of my BCH as the price kept rising parabolically, simply because I observed a repeat of the bull market of 2017 (and to an extension the one in 2013 for BTC). I didn't sell just Bitcoin Cash, but I was offloading all kinds of tokens I held from 2017 and 2018. At least some managed to recover and delivered profit.

I didn't sell any BCH all this time after the price collapsed since May 2021, one year ago, except perhaps 5% of what I hold today, still, my last BCH sale was in November 2021. After that point, the price dropped so much, that I considered selling a big mistake.

Price reached once again an alarming rate (lower than $250). 

What is the plan now? Do we abandon ship as the speculators did?

I've seen it before.

Prices of cryptocurrencies in the short term can drop significantly, I don't want to be pessimistic, and I hope it doesn't, but it always happens like that.

In roughly one year from now, FOMO will begin again.

I have a target to reach a certain number of Bitcoin Cash in 2022 (100BCH), and certainly, a lower price can help me achieve this easier in 2022, but clearly I am not happy to see BCH price at these lows.

I haven't sold anything for a long time and will not sell any BCH for fiat money or another cryptocurrency. In fact I'm selling other crypto for Bitcoin Cash as the price becomes a bargain during dips.

This number will keep increasing. Faster or slower, I would prefer slower though, as the price is already declining rapidly.

If the price of BCH goes lower, I will be adding to my Bitcoin Cash wallet faster.

However, at the same time, I will be doing my best to promote Bitcoin Cash and add value together with the rest.

Word of advice, in case I wasn't holding crypto at this point, I'd be trying to find an entry point. The bear market, especially at this phase, is perhaps the best time to enter for anyone that wants to extract the maximum profit. 

Takes guts, though, right? Who is buying today? We watch prices drop, and cryptocurrencies sold, so someone is buying besides just the exchanges and their liquidity market makers.

The target of 100BCH is a lot closer, considering the NFTs I hold in smartBCH. Demand for smartBCH is certainly lower than in 2021, yet many smartBCH NFTs still sell for vast profit. Although, I still consider it is better to hold NFTs for a few years more before making any decision. 

I've seen this all before considering NFTs too.

A rough estimate of the tokens and NFTs I hold on smartBCH would be around 10BCH. Although NFTs are illiquid assets, and the floor prices can fluctuate, I think this estimate is the lowest I can make.

In Conclusion

The purpose of cryptocurrency is to use the cryptocurrencies, and this is what I also believed when I joined this space. Yet, it quickly became all about the fiat currencies and the profits in fiat terms.

Each one of us has priorities.

My priority is controlling my money at a cost that is not forbidding me from transacting.

From an investor's point of view, BCH is both an asset and money (in digital form). Crypto works like a stock you don't need to liquidate in fiat currency to spend.

I expect Bitcoin Cash to achieve its targets and become a widely accepted and used cryptocurrency globally.

I got no particular reason to sell crypto at this point. I was never interested in holding too much fiat currency anyway, especially not when inflation is rising.

• Cover Photo: by " PIRO4D " on Pixabay (modified)

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