HODLing bitcoin is so simple, yet it’s one of the most difficult and challenging things to do.
HODLING Bitcoin is a personal choice. You Have to choose every morning to continue holding BTC. When You have no reason at all to SELL bitcoin. This Most people fall short in this area.
The Anxiety about losing money sets in. The fear of being wrong becomes a cloud over your head and you start to wonder if you’re wasting your time and ruining your future by HOLDing bitcoin.
It really isn’t for the weak, so I understand why so many people could not fathom holding onto an asset this volatile, this early into its existence. It Most people didn’t want to bet everything on Bitcoin, and those who were were rewarded well for their effort.
This American The HODL thread explains HODLing Bitcoin perfectly.
In 2018, the bitcoin prices dropped by half. Only At the time I was working as a physical therapist in a college. Because I had no other responsibility than to look after myself, that huge drop didn’t affect my mental state too much. But The following are some examples of how to use American HODL and many others Bitcoiners The stakes were high for those who have wives and kids to look after.
Many Bitcoiners Want the price to fall lower so they can collect cheaper BTC. But There are many ways to get involved. Bitcoiners It can be heartbreaking for those who already have bitcoins at lower prices to see the price drop 70-80% during bear markets. BitcoinersAfter all, they are doing this to preserve their wealth and increase their buying power. So when bitcoin dramatically drops in price, many feel like it’s a punch in the gut. Losing The money is not worth it.
HoweverIf you’re able to endure the bear market, bull markets are rewarding for those that have protected themselves from it, who took the time to learn about this asset and its extreme drops and increases. HistoricallyThe price of Bitcoin rises three consecutive years, and then drops for an entire year.
It is difficult to HODL bitcoin. It It is human and normal to experience the depression and euphoria associated with the bear and bull markets. So Be prepared for the inevitable bitcoin crash after the bull run.
Don’t put yourself in a position where you cannot withstand a 70-80% correction.
Understand You should be able to see that this is normal. If You will be in a prime position to profit from the bull market when it comes.
This Article is an Take. Opinions expressed are entirely the authYou can also find out more about's and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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