Bears, bulls and my portfolio

Wednesday, 9th of March 2022

Some time next month it will be my first anniversary in read.cash and noise.cash. Technically speaking it will also be my first anniversary in cryptoverse. Claiming crypto from the faucets that never gave me any penny after all doesn't really count, as I never really went fully into it, barely doubled with the idea of crypto.

In a big scale of things I am still a crypto baby. Back in 2017 when Bitcoin Cash forked from Bitcoin I was still sat at my desk in an engineering company I was working for back then. I was playing with a trading training app in my phone and kept loosing all the virtual money. The idea of crypto, trading, investing has always been appealing to me, but somehow I haven't explore the subject further until the time I joined read.cash last year.

Here I was mind blown by the amount of information one can find, but also intimidated by all the unknown vocabulary. Truth be told, I never dreamt of writing any crypto related articles when I first joined. I'm a nature lover. And a dancer. I struggled to even understand how to attach a wallet to my noise.cash to receive tips. I had to read a few articles to even learn that.

At that time I have heard some opinions that only crypto related articles get sizeable tips from Rusty. My initial goal was to show that this was not necessary true, because I know nothing about crypto, so let's see what I can earn without writing about crypto. Indeed my writings were soon noticed by Rusty and with a good amount too.

Months went by and without aiming to learn I was learning a lot about cryptoverse. My articles naturally started to reflect that and I realised that learning, discovering new crypto opportunities and then writing about it was something I really enjoy doing. I guess today is time as good as any other day to share some of my crypto reflections with you all.

How do attitudes change in times of bull and bear depending on the size of the wallet.

One of the first terms I learned about crypto was bear and bull market. When I joined in spring last year, bulls were racing like crazy and Bitcoin Cash was on its way to $1 000. I was here for not even a month when it reached last year's high of $1 550 in mid May. At that time I was sure taken by the happiness of the older users writing about the bull market, but since there was not much of BCH in my wallet, I didn't really experienced it affecting me to a great degree.

I guess it was somewhat comparable to the users who would earn BCH and instantly convert it to FIAT. Whatever BCH in $ value they earn, the same amount they cash out and the price of BCH doesn't really affect them so much. At that time I didn't have a need to cash out any of my earnings, but I knew this time will come one day.

Bear really hurts when you invested your own FIAT money

Whenever bearish times came I was again not fully with the complains of people who moaned about the price of BCH. After seeing last year’s high, I was happy to see it going down, as it meant that I can earn more BCH for every $ earned.

The views change however as our portfolio grows. Encouraged by the great success I achieved in SmartBCH I decided it was a good time to invest some of my own money in crypto. I was happy to buy BCH when it dropped to $450. I was even happier when I was buying for my friend at around $380. It seemed like I’d be able to make and ‘easy’ profit. But hey, BCH was not done dipping as we know.

I was not so happy to see my portfolio dropping like crazy in the new year. Although overall it might look like I have quite a few bch worth of tokens and NFT’s, once the figure I spent on buying BCH with FIAT is deduced from the total it looks like all my last year’s profits are wiped out completely. More than that, most NFT projects are either delayed or abandoned, so this bear market starts to affect me much more than I could imagine.

That’s not the end, I also managed to drop and break my laptop AND gas prices are going up and so are the bills and fuel. It looks like the time has come when I will need to start cashing out all my earnings from read.cash and noise.cash. Hopefully it’s only a temporary struggle and soon enough I can go back to building my portfolio again.

What I can say for sure is than in both - bear and bull market I am learning a lot by practicing what does and what doesn’t work. I started watching more crypto related material and learning how to better adjust my strategy. My happy go lucky attitude sure helped me acquire a lot of crypto while bulls were running rampant, but when bears show, so do I need to change my tactics.

Until next time 💙