HODLing bitcoin is so easy, but it’s one of the crucial tough and difficult issues to do.
HODLing bitcoin is a alternative. You need to get up day-after-day and select to proceed HODLing BTC. When you have got each purpose to promote bitcoin, it’s important to proceed HOLDing. That is the place most individuals fail.
The anxiousness of dropping cash kicks in. The worry of being fallacious turns into a cloud over your head and also you begin to surprise in case 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 smart why most individuals weren’t able to go all in on bitcoin, however those that did had 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 12 months understanding I’d rebuy bitcoin on the “backside”.
We spent 3 months or so consolidating round $6,600.
I obtained 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 value of bitcoin dropped by 50%. Solely on the time, I used to be a younger school pupil working in bodily remedy. I used to be ready 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 maintain, the stakes right here had been raised considerably.
Many Bitcoiners need the value to drop decrease, to allow them to accumulate cheaper BTC. However for a lot of Bitcoiners who’ve already accrued bitcoin at cheaper costs, it may be soul crushing to observe the value 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 value, many really feel prefer it’s a punch within the intestine. Shedding cash sucks.
Nevertheless, in case 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 value of bitcoin rises for 3 years in a row, then dumps for one 12 months.
HODLing bitcoin just isn’t 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 ready the place you can not face up to a 70-80% correction.
Perceive the asset you bought into and notice that is regular and the whole lot 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 benefit from the subsequent bull market.
This text is a Take. Opinions expressed are solely the writer’s and don’t essentially mirror these of BTC Inc or Bitcoin Journal.
