My Crypto Portfolio CRASHED! - A Look in my Bitcoin (Cash) Wallet

The market crashed again and perhaps this happened at the worst point for many in Bitcoin Cash, right about when smartBCH was gaining traction and growing in popularity.

SmartBCH was introduced a few months ago and helped many investors profit.

I invested in smartBCH (SEP20) tokens, farmed DeFi, staked, and took part in the mint phase of a dozen NFTs, also bought and sold plenty at OASIS.

SmartBCH is achieving organic growth and no market pullback can damage its long-term potential.

SmartBCH was the best investment I’ve made in the five years I am in crypto.

I still hold plenty of NFTs in various collections that mostly increase in value with time.

The recent crash affected almost everyone and reminds us of all the difficulties we encountered during the bear market of 2018-2019, or further back, the 2014-2015 one, for the earlier wave of cryptocurrency users and investors.

SmartBCH Delivers - The Market Took Back (just in $ value)

The outcome from smartBCH has been positive and I managed to increase the BCH in my wallets, starting with a tiny initial investment (about 2BCH).

This was the same wallet a few hours before the second phase of the dip, already down from ~$8,000 (-$911,61).

The losses in these two days are about $2,000, I haven't calculated completely but this is about 25% in just two days for my Bitcoin Cash holdings.

This is about 20BCH in the bitcoin.com wallet, and perhaps in total another 5BCH in smartBCH, so I currently hold about 25BCH and plan to use more in smartBCH in DeFi and new NFT collections.

Just the BCH in my wallet was down by $2,000.

In total, this is more than a $2,500 loss in just two days, if the fiat value means anything, anymore.

Perhaps my whole crypto portfolio is down by $4,000 or even more. It can all drop more for a while, but the temporary price downturn does not matter. Eventually, crypto will rise again, in a better approach, in the terms of the necessity for sound, digital money. It wouldn't be wise to sell anything at this point, no matter if the market keeps crashing or not.

With rising inflation and the inherent flaws of the legacy financial system coming into the light, cryptocurrency is most relevant than ever.

The Masterplan

"The time to buy is when there's blood in the streets."

Baron Rothchild - 18th century

There is absolutely no plan to sell, and at times of panic, there are voices that mostly constitute noise that I'm leaving behind. Price can drop more, we can't predict the direction it will take in the short term, but we should aim for the long run, and Bitcoin Cash offers an excellent opportunity presenting an overall positive outlook.

Consider all the institutions that noticed, invested, offered investments, or accepted Bitcoin Cash in 2021: "Institutional Adoption of Bitcoin Cash".

Bitcoin Cash is right there next to cryptocurrencies like BTC and ETH with a market cap of hundreds of billions of USD. It is always BCH, BTC, ETH, and LTC.

BCH has been thoroughly tested within years and achieved a place in the most recommended cryptocurrencies. It is a top-4 cryptocurrency no matter the market's irrational patterns. Bitcoin Cash is a solid investment that institutions are taking notice of and expected to be adopted by major retail.

SmartBCH

(Image from: Pixabay, modified)

SmartBCH is getting better every day, with amazing projects under development and should be taken seriously. It is also now tracked by major indexes and just needs some exposure to attract the right investments that will boost its relevance in the smart contracts field.

Bitcoin Cash and smartBCH is not my whole crypto investment, however, it is the main one. I still hold some Ethereum, spread in wallets and exchanges, multiple ERC20 tokens, NFTs on Ethereum, and a few other coins in wallets I had forgotten they exist.

I don’t have a clear value of the rest crypto I hold, but probably the losses are another $2k since some tokens I checked were down by 50%. I don’t look at the Ethereum NFTs price, since it is difficult to determine, but certainly, since Ethereum dropped, the value should be less today.

About half of this BCH results from my smartBCH adventure, and although it later took a hit as well, there will be an explosion of interest and I suggest to keep supporting smartBCH without a doubt.

Some of my BCH comes from writing on various platforms, mostly read.cash, and noise.cash. I’m also in the process of unstaking HIVE and sold most of the Hive tokens I was staking so far, since my decision to quit Hive was final.

In Conclusion

(Photo: by LeeRosario on Pixabay (modified)

Up in BCH, down in fiat, so I'm on the right track.

The crash is now on its third day and it looks like it is cooling down unless more panic appears. It resembles 2018 in every sense, but the bear market is upon Bitcoin Cash for months now (since May 2021).

The cryptocurrency rally we experienced in these last two years was quite different from the previous one in 2017 with meme coins taking the place of functioning and useful networks.

I blame Musk for this, the damage one person did to the part of the market that offered utility was irreparable.

How Bitcoin Cash can escape this trend?

With just one big announcement of adoption. Remember the fake news of Kroger adopting Bitcoin Cash as a method of payment? The immediate price action right after explains exactly where Bitcoin Cash should focus.

Adoption by major retailers will bring Bitcoin Cash into a better position. In 2021, it was AMC theaters announced and adopted BCH for payments via Bitpay. For the user of Bitcoin Cash, the third party doesn't interfere and an app is not required. Anyone can pay at AMC theaters with Bitcoin Cash, using just their mobile wallet.

Being speculative, imagine what would happen if Bitcoin Cash is included in the basket of cryptocurrencies AirBNB is planning to accept. We should push forward adoption in this front as much as possible, the major retail sector.

Back in 2017, when I was joining crypto, I found an article containing news of Bitcoin’s acceptance by Japan as a method of payment for the retail sector. It was an instant-buy at that point, and the news validated at around June 2017 if I remember correctly. It was massive.

Yet, a few months later, the development stagnation took its toll on BTC and erased its currency features. It was proven the scaling debate outcome was fatal for BTC, and Bitcoin Cash was on the right track of getting adopted as P2P cash. A money method instant and secure, with insignificant to the consumer and merchant fees.

Just a handful of cryptocurrencies that have been successfully tested can only achieve such massive adoption today and can work towards global adoption. Bitcoin Cash is ready to dominate in the modern economy and the best bet investors can take.

• Cover Photo: by Emil Kalibradov on Unsplash (modified)

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