You have likely heard the term HODL thrown around quite a bit, but there really is some serious math to back that up in regards to cryptocurrency investing.
To start with, HODL originated as a misspelling of the word "hold" and it has stuck on pretty well ever since.
It most literally means to:
- Hold
- On
(for) - Dear
- Life
HODL!
In regards to BTC, especially the way it has traded lately, I am sure many out there are wondering if they should just sell the coin and then buy back in when it is near the bottom.
It's a nice thought I know.
However, if you need any more convincing that you probably won't be able to time it correctly, take a look at this chart:
(Source: https://twitter.com/fundstrat?lang=en)
What does this mean exactly?
Basically that chart is saying that each year, on average, if you miss the 9 best days out of the year, you miss all of the gains.
Which means that if you are out of bitcoin waiting to get in, you may miss the 9 best days and miss the majority of the big moves up for the entire year.
Tom Lee, the creator of this model says exactly that:
“The reason ‘buy and hold’, or HODL, makes sense for Bitcoin is that a handful of days each year account for the bulk of gains for Bitcoin."
(Source: https://bitcoinist.com/market-strategist-tom-lee-hodl-bitcoin/)
There you have it, if you are scared right now, just HODL and hope everything turns out alright.
Perhaps some praying might be warranted as well. ;)
Stay informed my friends.
Follow me: @jrcornel
Short and sweet.
HODLING is the best in crypto, no matter what.
Bitcoin's hype cycles form a fractal-like pattern when you zoom out on the time scale. It will continue to do so until mass adoption finally brings the price to an equilibrium point.
And yes I created this poorly photoshopped picture. Also I know the price went higher than $18,486 but I couldn't get the cursor to pinpoint the top ($20K).
This is really interesting. Thank you for sharing.
:-D I am a little bit obsessed with Bitcoin haha! I also spend a lot of time chatting online with Bitcoin poker friends and they are very knowledgeable.
True
Bitcoin has fallen more than 80% 5 seperate Times. This will be the 6th then it’s game on. Must eclipse 80% though.
Thanks for the informative article. Keep up the good work.
Tom Lee, who used to be the former Chief Equities analyst for JP Morgan is one of Wall Street's top Bitcoin bulls. He is advocating for investors to HODL. His Bitcoin Misery Index currently stands at 28 which is at the 'misery' level. Whenever this has happened before Bitcoin has rebounded and gone on to another bull market phase.
Mass adoption is coming to the West it just might take abit longer than S.Korea where a third of the working population have crypto investments. Bitthumb exchange is planning to roll out an app allowing thousands of stores and landlords to accept crypto in payment. In Japan the infrastructure is being rapidly developed to enable mass adoption.
Demand is not going anywhere. The millenials will continue to drive demand for cryptos forward over the next period.
Excellent comment. Good times ahead, just have to be patient, don't sell at least until 2020 and look at how much of the world has changed.
HODL and keep buying the dips!
This might help viewers and bitcoin lovers
Wow 2017 was crazy. No wonder we are having this sell out before taxes.
Yeah bro its been a crazy ride but good Times are around the corner.
Complete agree mate. I don't have much, but I'm holding until June 2020 at least. So I don't worry much about today. Cheers!
Team #HODL
i am also hodl hope it will rise soon
Great post! Here's an article I just wrote about the recent crypto bubble https://steemit.com/cryptocurrency/@crypticat/what-s-happening-meow-crypto-bubble-bursts
At this point, nothing left to do but HODL. I haven't tried praying, but I'm trying to shame Bitcoin into moving up... hasn't worked so far, but if I get really mad it will come to the point where I won't be checking the crypto markets for a whole day, so Bitcoin will know I'm really pissed!
Say it like a Lady should!
I tried to stop watching crypto markets for a few days. It was 4 days ago and I was holding half of my capital in ethereum. It hearts but 100% my bad. Which hearts even more !
I'm glad that you posted this and have the sentiment of HODLING! I'm a huge fan of Bitcoin/Litecoin and it's not easy keeping a smile on my face right now during all these dips and mini-bounces. I feel that we'll hopefully have some nice volume and gains at the end of the summer and around the new year. I'll continue to smile and stand strong when the non-believers and no-coiners mock and laugh....while I keep filling my bags and crossing my fingers. Great post. -Respect
Very informative, thanks for sharing. I've smashed the upvote button for you!
If you are looking to get hold of some crypto without investing or mining, look into https://www.crowdholding.com. They are a co-creation platform were you get rewarded for giving feedback to crypto startups on the platform. You can earn Crowdholding's token as well as DeepOnion, ITT, Smartcash and many other ERC-20 tokens.
I tend to watch the markets for a while and then set scaled orders to match the lows and highs... Sometimes the price has gone a lot up or down and I've had to adjust the orders, but as long as I don't add more orders too often, I usually have enough coins left to place one or two more orders.
I usually check the price changes twice a day, so I still can ride some of the smaller ups and downs, but it doesn't make sense to ride all of them as then I would be competing with too many other traders and trading volume might not be enough to give the best profits.
HODL is the only thing to do, No point selling it and taking a loss. The crypto market has a lot of room to grow.
Agreed. It will be interesting to watch how things unfold over the coming months. I am hopeful but you never know for sure.
There is too much media attention on crypto, positive or negative it'll help spread knowledge. Although I don't think the market will shot up like it did last year. I think the next bull run will be more conservative.
If you sell,you lose.
Let the institutional investors do the day trading. The rest of us can hold.
No need to sell
I read your article, thanks for the information, very nice post.
HODL till we die.
"I am going to ride this bitch out even if it goes zero. Maybe I just want to say that you didn't get mine"
-Anonymous
good to know. thank you. i invested in ven
Challenge, where you can win up to 100s $SD!
If you want to, you can try it here:
https://steemit.com/contest/@guessandgain/guess-and-gain-4-2-day-win-usd
I have been telling everyone I know to hold and this is a great chart to explain why! I will be using this quite a bit while the price is down!
Thanks for the post :)
Hi Jrcornel,
Thanks for encourement to hodl BTC and I am sure some Steemians need reminder of this....
I know I do. This been a good time to BUY when the street is bleeding red.
Yup.
HODL HODL HODL, i litterly didn't even know the real meaning other then just hold haha
Search for GameKyuubi for the REAL meaning of HODL.
I buy some of my holdings at all time high... unfortynately I lost more than 1000% and i learn to hodl.
If you are someone on crack to stay wake up for not missing the 9 best days to buy Bitcoin. It is almost impossible to time the market, and the only viable option remaining is to HODL like a true Spartan!
I knew it was a mispelling, but it's great to know that it's an acronym now.
I am 50-50 on this post because hodling is not always going to work out for you in crypto and, I'm sure you understand that. For example, what if you were to hodl Bitconnect tokens? Well, you would have lost a lot of money. To be honest it really depends too, but just as long you are choosing a coin that has potential in the future.
Anyways, really enjoyed this post and keep up the great work!
Well I would have got in if I had more cash ;)
for now HODL !
If this works out and we all end up vasting increasing our purchasing power, what will we do with it? We should try to help humanity somehow, right? But how? I'm setting up a new country.
Good point... don't miss the big days!
I follow you
@minato
Im starting to think HODL is an early sign of dementia..
Keep the HODL in the dips and BUY. Bitcoin has reached the threshold. There might come a time that creation of Bitcoin will cease because Bitcoin mining companies might stop mining. Bitcoin owners might immediately have the value of their Bitcoins 📈
You know what I think? I think most people are not good traders and only put what they can lose therefore they don't to trade and just hold longterm. There is a minority who are good at trading but it is not easy and I'm not one of them.
I don't really like to hold, but have been forced to because I sold really high, then bought back in too soon. So I gained a bit but then just said f#"k it and decided to hold. There were many times I was like sell again it's going to keep going down, but i didn't. Trading makes me tired and I have to raise my kids and work. However I'm doing lots of paper trades and studying technical analysis let's see if I can get good at crypto trading.
Now is a good time for this post, a few months ago was not.