I hadn't bought/sold any significant coins in July, I was instead focusing on steemit and STEEM.
August was a really eventful month for cryptocurrencies, it started off with Bitcoin splitting into two different blockchains. In short, if you had any bitcoin on august 1st in a wallet or exchange you would receive an equal value of a new coin called Bitcoin Cash (BCC or BCH). This was a great opportunity for people to sell their altcoins for BTC and get some free money/coins.
If you had 1BTC in your wallet, then you were eligible to claim 1 BCC/BCH on August 1st.
Unfortunately, everyone who had altcoins in their portfolio thought the same, therefore increasing the sell pressure on all altcoins. By 27th of July, most altcoins had depreciated far beyond their usual value. That's why I decided not to sell my altcoins so cheap, and not take part in this Blockchain Split.
It was a tough decision to make, considering how the value of BCC/BCH was between 400-600 USD before the split(these were the estimated values based on some calculations that I am unaware of, these prices that I am stating are from coinmarketcap.com ) Also, the price of 1BTC was looking good at 2800 USD before the split.
I did not completely miss this opportunity since I had some BTC lying around on a few exchanges. These exchanges, deposited the exact amount of BCC/BCH that I was eligible for.
It has been one month since the split happened and Bitcoin Cash is at 600 USD and Bitcoin is at 4700 USD at the time of this blog post. Many altcoins have recovered since last month. Ethereum, Litecoin, Dash and Monero have gone up quite a bit. So, hodling payed off. I'm just sad that Siacoin hasn't completely recovered, but then again that's why I hodl cryptocurrency!
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