the only side effect of earplugs than I can think of is that they would disrupt the normal cleaning effect of your ear canal. The ears produce oils (wax) to capture foreign particles and it works that oil toward the exterior canal. Consistently blocking that "flow" might cause irritation of the canal.
I would think in the future that you could be more consistent in cleaning the outer ear canal to prevent irritation.
The outer ear has a remarkably limited amount of bloodflow. Early societies knew this and that is one of the reasons why ears were a common target for modification; earrings, elongation, etc. The reason I mention that is twofold. First, bleeding from the ear rarely indicates an infection. Usually infections of the ear are accompanied by other discharges like pus or clear water. Secondly, try to determine where the blood is coming from. If its coming from the outer ear, (the part normally cleaned by a Qtip) its probably a temporary irritation that will fix itself. I might suggest daily treatments with a few drops of peroxide until it clears.
If its coming from the inner ear or if you are experiencing hearing loss, it might be a more serious issue.
The reason I replied is only because I had a lot of ear infections as a child; to the point where my right ear only hears about 70% of my left. I'm no expert, so I have to cover my butt by saying, "see a doctor," but I thought I'd just share my experiences.
By the way, aperson... I got your PM a while ago but I couldn't reply. No worries on that issue; nothing but love and respect.