I tried to explain what HODL is in comic strips.
I explained what HODL does mean and how HODL reflects the idea in the crypto space.
Some Takeaway
The HODL was accidentally created through a typo from a user named “GameKyuubi” on BitcoinTalk in 2013. He pointed out that trading was just too difficult when one tries to time the market. Rather he would just hold as long as possible. It then quickly got popular and became one of the crypto memes to those who might not believe crypto at the beginning of the year and mocked people for wasting their money.
Background of HODL
The user was holding the Bitcoin when the price dropped almost 39% overnight from $716 to $438. In the crypto market, the price is very volatile. 20% drop is very common in the crypto space. People join crypto simply because they continue believing in it.
Philosophy Behind HODL
Of course, people who join crypto may believe getting rich is easy. However, losing money fast is more common. HODL is a long-term perspective about the crypto asset and people continue buying when the market has a correction. The future perspective is that crypto-assets will always come back stronger.
Spin-Off
There are SPEDN and BUIDL. SPEDN encourages people to use crypto and buy goods while BUIDL encourages people to contribute to crypto projects. However, the commonality of all three is a long-term perspective about the crypto-asset.
One of the key ideas of HODL is to defer from emotional reactions such as FOMO or Fear of Missing Out and FUD or Fear, Uncertainty, and Doubt. It really shifts away from the emotion from trading and focuses on long-term returns which is one of the ideal trading strategies.
In conclusion
HODL is a great strategy for a long-term investment. But the most important thing is to invest your knowledge.
Photo by Neil Thomas Unsplash
Note: the post was shared on multiple platformsYou can refer my previous article lists
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-------------------------------------------------------------------------------------Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.
