The Bear Is Not An Enemy But A Friend

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Avatar for bmjc98
Written by
2 years ago
Topics: Bitcoin Cash, BCH

While everyone is so pissed about the current market being in bloody red, some, including me, are happy to see this great opportunity in accumulating more BCH.

In fact, on the 13th of May, I bought some BCH worth of Php 2300 or $48 at the price of $760. Unfortunately, the BCH is still in my coinsph wallet as it won't let me send it to Bitcoin.com. I would love to have everything either in my Bitcoin.com or Binance. Nonetheless, I'm so glad I was able to buy it at that price.

And just as today, May 19, I made another purchase at $605. I only had Php 2100 or $44 though, but at least I got to buy some at this rate. Honestly, I actually had no intention to spend money on crypto because I'm currently building my house and every fiat counts.

But then the market went under $700 and don't want to miss this opportunity to buy some. Besides, I've made some adjustments for the materials of the house, so it's more of a bonus to me.

Source: Google

Bottom line is, I have faith in Bitcoin Cash. I believe that it will rise and fly to the moon again, and it will even surpass $2000 soon. I am not even worried about the dip. If Sir Marc De Mesel spent thousands to millions worth of BCH on this project, then there's no need to get panic. And so, I will keep buying BCH as long as I have extra money.

The only thing that makes me sad about the dip is that I kinda wasted some of my USDT by buying BCH at the price between $1188-$1500. I had $900 worth of USDT way before the bear strikes when I sold the majority of my BCH on Spot Trading.

The worse part is, even before BCH reached around $1600, I already posted several times on noise.cash that there's a huge chance that it will go down to $600-$700. I posted this several times and though some opposed my noise post, I still told them my side.

I've already seen this happen when BCH reached $400-$500 and before $1000. Whenever BCH hits its new (this year's) ATH, after a few days to weeks, it will start declining again until it hit somewhere 30%-50%.

Okay, I'm not an expert and will never claim as one, but this is just based on my observation. And this is what makes me sad because I got FOMOed, and instead of sticking to my plan to wait for the huge drop, I did the opposite.

So here's what's going to happen next: the next time I have USDT, from selling my BCH on Spot Trading, I will make sure to keep the 50% and wait for another huge dip. No matter what happens, I will wait patiently.


Closing thoughts

As Gabriel said in one of his videos, the Bear is not your enemy but is a friend. It is during this time when you can accumulate more BCH at a very low price. This is also an opportunity for those who don't have the time to write articles or make noise and just want to have 1BCH instantly.

Don't be ashamed of buying. This is not cheating. This is you having faith in the power of Bitcoin Cash. Although it would be nice and challenging to earn your 1 full BCH by writing articles or making noise, if you want to buy it, don't let anyone stop you.

Just keep this in mind, ONLY INVEST WHAT YOU CAN AFFORD TO LOSE.

Lead image source: Coingape


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Written by
2 years ago
Topics: Bitcoin Cash, BCH

Comments

I did that in the past. Bought 50% with my usdt and when it dipped deeper when I bought again with the remaining 50%. Pro kahapon, I just bought everything at 940, un pla bababa pa ng 788 (which I was waiting for long) when I checked last night.

$ 0.00
2 years ago

Hayst. Yun talaga. Next time, d na ako makikinig sa iba. Lol. Sabi kasi, di na yan bababa. I even shared to them my observation in the past dumps pero ayun pala, nadala pa rin. So lesson learned, leave some USDT para sa mga ganitong pagkakataon.

$ 0.00
2 years ago

BCH price is still dumping tomorrow.So you should buy more BCH I can predict.

$ 0.00
2 years ago

I already bought yesterday and don't have any fiat left. Hehe

$ 0.00
2 years ago

Naah it's an enemy if you BUY LONG 😂😂

$ 0.00
2 years ago

Hahaha. Sorry, di ko gets yung buy long. Hehe. Care to explain? Hehe

$ 0.00
2 years ago

Luhh yun yung mag buy sa futures 😂

$ 0.00
2 years ago

Hahaha. Sorry, buy and sell lang alam ko. Hahahaha. Sa stormgain. Lol

$ 0.00
2 years ago

Hahaha buy long yun at short sell pay may leverage.

$ 0.00
2 years ago

I know it is a bit annoying to see the value in our wallet, but I would rather look at the amount of BCH and feel grateful about it. Knowing I opened this account with zero balance as many of us and slowly building it up. I am sure by the time I achieve my goal, that one whole BCH the price will go back again.

$ 0.00
2 years ago

Yeah, most of us are too focused on the amount in $ and not the amount in BCH where holding. Hehe. I'm actually guilty on that. Lol.

$ 0.00
2 years ago

It is because we are all used to fiat currency. When the time comes the prices will appear in the shops in BCH not in fiat.

$ 0.00
2 years ago