Apparently BCH is doing very well, sell walls keep moving North as people believe they will be able to sell their BCH at a higher mark later on, and this is basically driving the price upwards, as order books on BINANCE and Bittrex are too think above the $650 mark. Another factor indicating that it's only goin up for now, is the increase in total transactions we are currently witnessing, as you can see in the screenshot provided down below.
I do understand that people find BCH to be a valuable asset, but I think that READ.CASH and noise.cash are adding to it. A huge number of transactions is taking place daily on both platforms, and it's really refreshing to see BCH getting the recognition it deserves. For most of us, BitcoinCash is the next great thing in the cryptoverse, the train we didn't miss, the second chance to make up for not paying attention to BTC earlier on as we should have.
Looks Promising
So BitcoinCash is currently climbing up the ranks on coinmarketcap.com, and then doing just on blocktivity.info at the same time is definitely a very positive sign, and those of us invested in the project are more than happy at the moment, and excited for the future. Can it really stop exploding once it eats up the next major sell wall around the $650 mark, with approximately 7,65 BCH waiting to be sold. But then again, those sell walls tend to move North during the bull market. And this is something I've witnessed BCH do quite often lately.
In the screenshot below, you can see the current market depth regarding the BCH/USDT pair on Binance. Things are looking really good below the $650 mark, so I expect BCH to bounce back somewhere below that level in the next 24-48 hours. Of course this is mere speculation, as this is actually a complex function, the most significant parameters of which are unknown. And this is why you should never take anyone's advice for your trading options.
What's Next
Only time will tell, but almost everyone I know of is bullish right now, and the market depends on the public sentiment. I think this is playing an important role, and also taking into consideration the fact that the vast majority of western governments are openly talking about their intention to gradually eliminate the physical use of money, I think it's safe to say that the cryptoverse is stronger than ever, and we can all be ambitious and optimistic for now.
Apparently what is bearish for liberty is bullish for the cryptocurrency industry, and people will soon start flocking in here when they realize that cryptocurrencies are the only safen haven there is for their hard earned funds. Governments looking to take absolute control, but the people still have an option, be it BTC, ETH or BCH. They just don't know it yet.
Thank you for your attention.
Just my two cents. This is by no means financial advice. Just sharing my personal views and experiences. Please do not take my word for your investment choices, and always do your own research.
Stay safe and have a good one,
@lordneroo
See you around!
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What’s Your Bitcoin Accumulation Strategy!?
Most people that will read this article are of the same mindset that bitcoin will be soaring to new highs in the near future. This of course will be an amazing thing for the people who have already accumulated a nice portfolio of bitcoin; generating huge profits for them. But for the people who have yet to reach their target bitcoin accumulation goals, it is about to become much more difficult to do so.
This makes it even more important to have your own strategy and plan in place to maximize your own portfolio growth potential There are many ways to jumpstart or steadily increase the amount of bitcoin you have and I will be going over some of these ideas, as well as sharing with you how I go about increasing the amount of bitcoin I have
Let’s dig into this more.
1) Dollar-Cost Averaging
For most people dollar-cost-averaging will absolutely be the best option This is when on a regular basis you purchase a set dollar amount each time. For example, every time you are paid from you job, you could then purchase $100 worth of bitcoin. Many crypto exchanges now let you set up reoccurring purchases which makes it just that much easier for the consumer. Just set it, then forget it. The benefit with dollar cost averaging is that over time this will help you to average out your purchasing price and will be able to take advantage of regular price drops.
2) Lump Sum Purchasing
When I recommend buying bitcoin to other people I will almost always tell them that dollar-cost-averaging is the best way to do it But with that said in my opinion there is a time and a place where lump sum purchasing can be life changing. For example; in March when the price of bitcoin dipped to around $3,700, if a person had the money set aside and was able to invest a large amount at that time they would be up by a lot this year. For many people those types of gains could absolutely be life-changing. While those sorts of price drops are incredibly rare; it is important to have money ready just in-case so you are able to take advantage of those opportunities. Personally, I always invest each time I’m paid putting me into the dollar-cost averaging camp, but at the same time I make sure to have enough set aside to take advantage of the massive drops. I was so glad I was able to do this back in March.
3) Lending
If you have been following my posts recently you will know this is something that I have become very passionate about. For the longest time I often would say; “not your keys, not your bitcoin.” But the crypto portfolio growth that lending can present is just too good to pass up. From the beginning of the year bitcoin has nearly done a 3x increase in price which is amazing. But by lending out a nice amount of my BTC I am able to compound my growth even more, by adding thousands of dollars in BTC to my portfolio just this year. Of course the drawback with lending is that like I mentioned you are giving the the keys of your BTC to someone else. But also that it does take quite a bit invested to make those big amounts in interest each month. The key thing is to have patience. Most of those services offer compounding rates which means your btc earned will increase every month and if you continue to deposit even more it really helps to accelerate the process.
4) Trading
For some people trading is the path they choose to accumulate more BTC. If you have the skills for trading this can be the most lucrative path by far. But also it is the highest risk as well. I have far too many stories about my friends who have lost their entire portfolio from trading and they were devastated. Because of the risk factor I would almost never recommend this path to most people, but it is important to remember that it is there.
5) Side Gigs
For many people investing a large amount of money into bitcoin just isn’t an option at the moment. Things are difficult out in the world right now and who knows when things will improve. But there are still ways you can find money to invest into cryptocurrency.
Perhaps it is selling your old things you no longer need on the internet. For example just a few weeks ago I sold some of my childhood Pokemon cards on eBay and then invested that straight into bitcoin. Selling games, electronics, or clothes that you no longer use or need can be a nice way to find some extra money. While the next idea most people won’t like, it is perhaps the most viable, and that is finding a part time job. If you were to just work one night a week extra and invest that income into bitcoin; it an very quickly turn a large amount. It is something to consider.
6) Cryptocurrency Blogging
This is a new avenue that I started at the beginning of 2020 and it has been very successful for me. If you are passionate about cryptocurrency this can be a very fun process. There are many great places to share your posts as well Publish0x, Hive, Read.cash, Uptrennd, and also video services such as LBRY or YouTube. While it is a slow process at first; as it takes time to build up your own follower base and content. But if you stick with it long enough. It becomes much easier the longer you do it and I would recommend this to any highly motivated crypto enthusiast.
So what do I do?! I actually do all of the above, but admittedly I have been done much less trading. Each month I heavily budget my salary and spending so that I can maximize my investing. I’m constantly selling things I don’t need around the house and then reinvest those earnings as well. Each month I’m dollar cost averaging into bitcoin and ethereum, but always keeping money on the side in case that rainy day price dump ever appears. I then lend out a portion of those cryptocurrencies to services like BlockFi, Celsius, or stake them. And finally I have been doing a large amount of blogging as well.
So what is your plan for how to increase your bitcoin portfolio as prices continues to rise!? And how successful have you been at it so far!?
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How Much Bitcoin is Enough!?
The price of bitcoin has been going parabolic; having soared past $30,000 and even reaching $33,000. If you are anything like me you have probably been enjoying the price gains immensely, but at the same time wondering if you have enough bitcoin. While it is never too late to buy bitcoin and I never plan to stop buying, but at the same time the days where it was pretty easy to grow your bitcoin portfolio may have come to an end. Just a handful of months ago a person would be able to get at least 0.01 BTC by just investing $100. But now that same $100 would only net you 0.003 BTC; requiring around $330 to achieve the same 0.01 BTC amount. It is becoming much more expensive to accumulate BTC, and how will you know if you have enough? These are ideas that I tackle with every day; let's dig into this more.
First and foremost the perfect amount of bitcoin will vary for each individual. What may be perfect for me, may not be great for you and vice versa. The first concept you need to understand if to "never invest more than you are willing to lose." Bitcoin and cryptocurrency is a very risky game, and while currently we are all in great profits, the flip could be switched any second and the price of BTC could plunge. It has happened before, and it most likely will happen again as well. But if you aren't in current need of the money that you are investing, this becomes less of an issue while you invest with a longer timeframe in mind. For me currently, don't get me wrong, I do love the yearly high-prices. But I am more concentrated on each years' new low price.
Rainy Day Range (0.01 - 0.05 BTC)
Also, how much bitcoin you need will vary greatly on what your goals are, or even what kind of personality you have. If your goal is to have some extra money on the side for a rainy day, then just having a small percentage of bitcoin on the side would be enough to achieve this. Perhaps 0.01 BTC to 0.05 BTC. During the short-term this range probably won't make you rich, but it will be enough to give you a little extra cash on the side. This could be a great start to for many people to have an emergency fund; something that we have all learned last year that is crucially important to have.
Nest Egg Range (0.06 - 0.30 BTC)
If you are looking to invest a slightly bigger amount that could bring you a larger nest egg in the future; this would be the 0.06 BTC to 0.30 BTC range. With this investment range; this is the kind of results that I think might happen. For many people you would be able to pay off a large portion of your debt, purchase a new car with cash, use as a downpayment for a house, or have a nice side-item in your portfolio to begin saving for retirement.
Now we have reached the point where things truly become exciting.
Wealthy Range (0.30 - 1.5 BTC)
This next range admittedly is quite large and your situation could be quite different depending on where you fall in this range. Now keep in mind the dollar amount that makes a person rich today, because of inflation could be completely different in the future. By owning 0.30 - 1.5 BTC, this is the range where you will be considered wealthy, but still not mega-rich YET. At this range your BTC would be enough to buy a house, earn a great amount of interest by lending out your BTC, be the cornerstone of your retirement, and generally help you worry less about money. It is at this range that the bitcoin you own could be considered perhaps a life-changing amount. While maybe not enough to quit your job and retire yet, it would be enough to dramatically improve someones life.
Quit Your Job Range (1.5 - 5 BTC)
Again this range is even larger than the previous range, and therefore your situation here could vary a lot as well. Depending on how far the price of bitcoin goes could affect this greatly as well. It is at this point where a person can realistically in the future begin thinking about quitting your job. Perhaps this would mean retiring for many people, or starting your own business; it could mean a lot of different things. It would definitely be a life changing amount, and an amount that you would probably be able to live off of the interest alone.
Retire Young / Tropical Island Range (5 - 10 BTC )
A personal dream of mine has always been to make it big from investments, retire young, and live out the rest of my life on a beautiful tropical island. At this range you could potentially achieve this goal. You would also be able to live off of the interest, start your own business, buy your dream house with cash, have money for your children, and generally not need to worry about money.
Empire Range (10 )
For many people this is a range that will be impossible to rich, but at the same time it is always nice to dream about it. At this range you would have enough money for many future generations of your family. You will be the richest person in your city, being able to buy anything you want and never have to worry a day in your life about money. Of course you could retire from working, but at this point you would have people working for you.
Of course all of these ranges are for after this next bull run and perhaps the next one after that in 4 years as well. The thing I do want to stress is that if you are anything like me; perhaps you will never be satisfied with the amount of bitcoin you have. When I first began investing in bitcoin I wanted to own at least 0.25 BTC. Once I achieved that I changed my goal to own at least 1 full bitcoin, and then after that I changed it to at least 2 BTC. I have now changed my goal to own 10 . But at the end of the day I know that I will probably never want to stop buying.
So which range are you in now, and which range do you hope to arrive at before the prices become even more to difficult to accumulate more bitcoin?!
As always, thank you for reading!
For the first time in history, the total market capitalization of all cryptocurrencies has reached the $ 1 trillion mark. According to Coinmarketcap, at the time of writing, the total crypto market capitalization is $ 1.011 trillion. Bitcoin remains the market leader - capitalization is $ 676 billion, dominance is 68.8% - and Ethereum - capitalization is $ 136 billion. Tether, Litecoin and XRP round out the top five.
The previous capitalization record was set in January 2018 at $ 800 billion.
Recall that against the background of the rally, bitcoin and ether hit the rating top 100 largest assets in the world. Bitcoin ranks 10th in the ranking, while Ethereum today has grown to 88th line and continues to grow.
One bitcoin cash = 600+ USD right now, which means in our country it is currently equal to 48,200?. Usually 1 USD =86?. Where I saw a few days ago 1 bitcoin cash = only 250 USD. Which reached at least 220 USD. It's not long ago. Events before November 15th. When Bitcoin Cash was supposed to be updated. Everyone who was a Bitcoin Cash holder had a thought that the price of Bitcoin Cash would go down. The price of bitcoin cash may go down by half.
Believe me! I was very scared myself. I had a deposit of 2.8 BCH at least and it is not less. The price was 750+ USD. I stored it for 5-6 months. What if the value of BCH decreases? I will lose a lot. I decided that what I really needed to do was learn how to do it right. At first I sold about 1.2 Bitcoin cash or 300 USD. I also needed a lot of money. And I was waiting for the value of bitcoin cash to increase. Because I needed a laptop. I sold 300 USD, or 1.2 BCH, for a total of 26,000?.
But to buy a good laptop requires at least 700 to 800 USD and in our country it is about 65,000?.
But where do I get so much money? Some of the money I had saved was about 214 USD, equivalent to 18,000?. And that wasn't Bitcoin Cash. Then the total is 500 USD and the domestic currency is 44,000?.
Still need about 300 USD. What to do now? I sold it for another 214 USD and that's about 0.9 BCH. From there I got 18,000?. Then the total became 60,000?.
The account still had 0.6 Bitcoin cash deposited. I kept it for future reference. But I was afraid if the price went down. I saw many articles and they wrote, "After the BCH network upgrade on November 15, the value of BCH could be zero. It is very unlikely. I was a little worried. If this is true, I will lose a lot. I sold it and from there I got about 21,000? with a market value of 180 USD.
During this time I accumulated more 0.2+ BCH. Whose market value was about 68+ USD. And that's after the November upgrade. Then I bought my laptop. Laptop Model -
HP probook 450 g7
4 GB Ram, core i5 10 generation
2 GB dedicated graphics card
So how much money did I lose in total as of now? Let's calculate, I have accumulated a total of 3 BCH in the last 6 months. I saved money by working on different sites. At that time I sold these 3 Bitcoin cash 250 USD per BCH calculated 750 USD worth Bitcoin cash. Its market value is 65,000? in domestic currency.
At present, the value of Bitcoin Cash is 600+ USD per BCH, while 3 BCH is equal to 1800 USD. Then my loss is 1100 USD. Whose market value is currently 90,000?. That means my total loss is 1100 USD and 90,000 USD in domestic currency.
Even before I wrote this article, I did not know that I had lost so much money in just 2 months. 11000 USD !! I have become speechless and helpless. From now on I will try to retain as much BCH income as I can. Because one of our prominent person Marc De Messel said that by the end of 2021, the price of this BCH will move closer to Bitcoin.
BCH will reach over 30k USD.
BTC will reach over 100k USD.
ETH maybe be reach over 50k USD.
And that's almost certain. I feel like crazy when I saw his sort post on noise.cash. Currently most transactions are through the BCH network. Which is very promising in the future. Hopefully I will get a little consolation from everyone for this huge loss of mine. I believe that there is no consolation for me, Because everything was in my hand. If I late some till today, it won't be happened.
I'm writing my experiences with Bitcoin Cash and Bitcoin (BTC), I've used them both for payment and below is my review.
Bitcoin cash
Forward thinking, censorship resistant blockchain
Works perfectly for daily transaction and large transactions
Has one of the best Bitcoin wallet app [ bitcoin.com ]
Constantly criticized for being correct
Very low fee
Has a decentralized development community (each team having their own implementation)
Paypal adoption will give rise to shoppers to transact at a low fee for those who are new to crypto
Developing economies would find the low fee much more affordable
Bitcon (BTC)
Slow if you pay less fee (only affordable for the rich)
More like a Store of value and less of a global currency
Their Scaling solution "Lightning network" has a block size of approx 200MB to "Scale" (guess what, Bitcoin Cash was right)
Only 2% success rate for transacting more than $200
Loss of funds are high, as it's still in beta or 18 months away from a stable release
If all chinese miners were to shut down, It would take months for the difficulty to adjust and till then most miners would be mining at a loss
