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HODLing bitcoin is so easy, but it’s one of the tough and difficult issues to do.
HODLing bitcoin is a alternative. You must get up day by day and select to proceed HODLing BTC. When you will have each cause to promote bitcoin, it’s a must to proceed HOLDing. That is the place most individuals fail.
The anxiousness of dropping cash kicks in. The concern of being unsuitable turns into a cloud over your head and also you begin to marvel should you’re losing your time and ruining your future by HOLDing bitcoin.
It actually isn’t for the weak, so I perceive why so many individuals couldn’t fathom holding onto an asset this unstable, this early into its existence. It is sensible why most individuals weren’t able to go all in on bitcoin, however those that did have been extremely rewarded for his or her efforts.
This American HODL thread sums up HODLing bitcoin completely.
Right here’s a narrative for $106,600 per Bitcoin.
6 years in the past in 2018 I stacked money all yr understanding I’d rebuy bitcoin on the “backside”.
We spent 3 months or so consolidating round $6,600.
I received impatient and was like fuck it that is my second and deployed half my stack.…
— AMERICAN HODL 🇺🇸 (@americanhodl8) December 17, 2024
I bear in mind what it was like again in 2018 when the worth of bitcoin dropped by 50%. Solely on the time, I used to be a younger school scholar working in bodily remedy. I used to be able to tackle as a lot threat as doable as a result of taking good care of myself was my solely duty, so that big drop didn’t have an effect on me mentally an excessive amount of. However for American HODL, in addition to many different Bitcoiners who had wives and youngsters to deal with, the stakes right here have been raised considerably.
Many Bitcoiners need the worth to drop decrease, to allow them to accumulate cheaper BTC. However for a lot of Bitcoiners who’ve already amassed bitcoin at cheaper costs, it may be soul crushing to look at the worth of bitcoin drop by 70-80% within the bear markets. Bitcoiners, in spite of everything, are on this for wealth preservation and to extend their buying energy. So when bitcoin dramatically drops in worth, many really feel prefer it’s a punch within the intestine. Shedding cash sucks.
Nonetheless, should you can face up to the brutal bear markets, the bull markets reward those that sheltered the storm, those that put within the effort to know this asset and why it has these intense drops and rises. Traditionally, the worth of bitcoin rises for 3 years in a row, then dumps for one yr.
HODLing bitcoin is just not simple. It’s regular and human to really feel the despair of the bear market and the euphoria of the bull. So when bitcoin inevitably dumps sooner or later after the bull market, be ready to HODL.
Don’t put your self able the place you can’t face up to a 70-80% correction.
Perceive the asset you bought into and understand that is regular and every part is OK. If you are able to do that, you’ll make it out of the bear market alive, and be in prime place to make the most of the following bull market.
This text is a Take. Opinions expressed are fully the creator’s and don’t essentially mirror these of BTC Inc or Bitcoin Journal.