Seeing the market crash is no longer new to me. In fact, I don't get panic anymore whenever I see my PNL with -$900 or more compared to when I was still new. Back then, I kept monitoring the market and seeing my wallet decreasing, I couldn't help myself but wonder how long will it takes for BCH to recover.
But gone are the days when I instantly got panicked; however, there are still instances that I would feel sad about it. Not because it's in a deep dip but because of the two possible things:
Don't have fiat to buy during the big sale
Not having a fiat to buy during a bearish market is the saddest thing a trader could experience. Imagine from a price of $700 down to 400, and you have nothing to buy; not even some cash. What a sad life!
I actually prepared $400 in USDT before. This was the profit I gained from my September and October earnings. Although I have some, I made a buy order on Binance that was hit even before this dip occurs. Now, I have nothing! Nothing! Nothiiiiiiing! (If I don't have youuuu...)
If only I had stuck to my plan to not use it until the price went under $500, I could have used that amount to buy either BCH or something else during this dip. Oh well, another lesson learned: STICK TO THE PLAN whenever you got one!
When you needed to cash out
I don't often cash out my earnings from both read and noise, not even from the payout I get from AxieBCH. Most of my earnings are stuck in my wallets as they are considered my long-term investments so whenever the market is in bloody red, I usually don't get bothered at all.
The problem now is that I need to cash out as soon as possible. I have to pay for something and need it in just a couple of days. Unfortunately, it looks like I need to wait much longer for me to cash out some of my BCH here.
I could have cashed it out when the price went around $750 something or more. I wish I did, though, when the price of BCH was a bit stable. I could have the money by now without taking so much if only I did it right away. Now, I don't know how or where to get the cash since BCH is still way too down. I don't want to cash out my BCH at this point coz selling them or swapping to fiat also means I'm going to lose a loooot!
Closing thoughts
I think I could relate now to how others would feel when they needed to cash out but couldn't do it right away because of the current price. Maybe next time, I should always make sure to have some USDT in case of something like this happens again.
By the way, for those who are new to HODL, don't be sad about the market. It happens, and it will bounce back again eventually. I remember back in December, it was really bloody as well. That was also the time when I aimed to accumulate $100 in 15 days. I almost thought I won't be able to achieve it since the price was super down. Surprisingly, it went up days before Christmas or probably after.
In short, I've seen this scenario back in December 2020, which means there's also a chance that we will see a better price soon. Just don't do anything like selling to avoid losing a lot. And while the market is bearish, better grab this opportunity to accumulate more BCH by either writing and making noise, or buying using your own money. I would have bought some if only I had the means to.
December 5, 2021
Relate ko ani sis kanang needed jud nako ang money and wala koy laing choice bisag ubos kaayo ang price iconvert nlng jud .And unta mubalik ni siya ug taas before Christmas para happy tang tanan.