Cryptocurrencies are as volatile and as unpredictable just like that person you know. Who has that evet confusing personality, one moment he's up and about and the next he's down and out. You just can't seem to get a good grasp of what to expect and what to do around hin. But if you're used to being with him, you know how to cope up and ride his mood swings. Just like in crypto, take bitcoin cash or BCH for example, the longer you be with it, the more you get to know its ups and downs.
If you're a novice like me at trading and cryptos in general, you might be checking your bitcoin cash wallets from time to time and always smile when it's green and have that gloomy frown whenever it is down. But if you really, I mean really think about it, it also brings us a bit of fortune when the market dips.
More BCH Earnings
Currently, I earn most of my BCH from Noise.cash and read.cash. From Noise.cash, I benefit from the generosity of my fellow users and earn some amount of BCH when they heart my posts. A heart can mean a $0.01 - $0.03 contribution. Notice that it is measured in dollars and not in BCH. What does that mean for me? It means that when the market price of BCH is low and someone hearted my post with a value of $0.03, that will be a whole lot more BCH than when someone hearted me $0.03 while BCH price is high.
Same as true with read.cash. If my article is generously valued at $10 when BCH is down then I will have collected more BCH than when my article reached $10 if the BCH is up. Just to imagine it more clearly, let us say that 1 BCH is equal to $1000 and my article just blew up with $1,000 dollar tip (wow, I'll be in the moon if that happens) then I will have collected 1 whole BCH right?
But then the next day for some weird reason we don't know BCH plummeted down to a mere $500 (seems far fecthed now, but it's within the possibility in cryptocurrency, but of course we hope that it doesn't go that low, or do we?) and I've written another article that is kindly valued at $1,000 again, then I will have an additional of not 1BCH but 2BCH.
All I have to do then is wait for BCH to be back at $1,000 a piece and I will have $3,000 instead of the originally earned $2000 from 2 $1,000 articles because I already have 3 BCH in my wallet.
Amazing right? That's possible because we earn BCH in its current value so raking in BCH while it's low is really advantageous when you put it in perspective.
More BCH to Hodl
Another clear upside of having your asset dip is you can, if you want, add more to your collection and make your holdings grow. When the price of the asset is low you can grab the opportunity to buy more BCH at a discount.
Some of the people I know do this and when BCH soars again with a high price they tend to sell some of it at a profit and use that earning to buy more of it when it dips again. It's a slow earning and relies on your impeccable timing and luck. But with this idea, it's important to resist the urge of greed and keep everything realistic because as we now know, the market is really unpredictable. It may not go down for a while or it may not go up for long periods.
Life Lessons
And this is real. The market can teach us that in life too, when everything goes down we can put our faith and our hopes that a reversal will be coming and we will be taken to the highs of it.
It also teaches us that patience can yield great success and unbelievable rewards. Being down is not the end of the world, as long as you're alive and kicking the wave goes on.
It also tells us that opportunities do come and go so we need to accept that we should risk something to gain something.
Hey there!
Thank you for reading this one and visiting me again. I hope you're well and of course, I'm always willing to catch up in the comment section, kindly drop by and as always,
Cheers!!!
Sources:
Lead image : https://www.forbes.com/sites/naeemaslam/2020/07/24/stock-market-crash-stock-rally-is-out-of-gas/?sh=78a41e196343
thanks! learn a lot from this