5/21 ANDY HOFFMAN (CryptoGoldCentral.com): Why HODLing is the ONLY Logical Bitcoin Strategy

The past week’s’ trading, as frustrating as it seems, is “par for the course” for crypto in the aftermath of the epic, Wall Street-catalyzed pump and dump of November through February.

Do I believe the lows are in? Absolutely. But can I be sure? Of course not. However, I have faith that the post-SegWit surge – overblown as it may have been – was only partly due to rank speculation…but mostly, permanent upward revaluation due to 1) SegWit adoption and 2) scaling debate victory.

Those who entered crypto last Fall – the vast majority, with little knowledge, and no experience in cryptocurrency – have been REKT; or if not, are hanging on by a thread. However, holders prior to the post-SegWit surge are playing with varying degrees of “house money”; and thus, are incentivized to HODL. However, given the massive drop-off in crypto trading volume, volatility has significantly increased – from levels already greater than other asset classes. Thus, it’s starting to feel like a Wild West scenario of spinning one’s wheels; feeling utter despair, and FUD, when prices plunge - and jubilation, relief, and excitement when they surge.

Why is this occurring? I’d say “simple, the Mt Gox Trustee”; which may be true, but can never be proven. Unquestionably, this is the biggest headwind in the cryptocurrency market today…not so much the size of his position, but the lack of transparency. Which unfortunately, will remain so until he gets closer to liquidation; or, as could happen at any time, the market “discounts” said event.

Andy Hoffman (#HODLBTC)‏ @Andy_Hoffman_CG
It's days like today when you realize the scope of the negative impact of the Mt Gox Trustee's irresponsible actions. Did he sell the 24,000 #Bitcoin? Is he doing so now? When will the next withdrawal occur? The SLIGHTEST transparency would yield dramatically higher #BTC prices.
3:01 PM - 22 May 2018

That said, there’s no way of knowing what’s moving a market at any given time - let alone Bitcoin. Which, I might add, may simply be to one more large buyers or sellers. That said, the fact remains that not a single thing is wrong with Bitcoin - and to the contrary, its fundamental outlook is better then ever. This is why HODLing is the ONLY strategy to consider – which, in far direr times than this, worked just fine.

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