Back to Crypto: to HODL or not to HODL?
HODL is a crypto slang term derived from a misspelling of “hold” that refers to buy-and-hold strategies in the context of bitcoin and other cryptocurrencies.
Throwback Thursday by BTCMEX
“I AM HODLING” screamed less-than-sober “GameKyuubi” on Bitcointalk during the price crash in 2013. The drunk investor admitted he misspelled the word “holding”… twice… in his attempt to announce plans to hold on to Bitcoin despite the price crash in the market.
HODL made its way into memes within minutes, and later on, became a cryptocurrency investing approach of holding onto a coin through crashes in order to hopefully reap exponential long term rewards. “HODL” has been given the backronym “Hold On For Dear Life”.
Hodlers wash their hands of all this volatility and prognostication. They simply hodl, which helps them to counteract two common destructive tendencies: FOMO (fear of missing out), which can lead to buying high, and FUD (fear, uncertainty, and doubt), which can lead to selling low. The latter is occasionally referred to as SODLing.
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Please, note, that the article is a part of BTCMEX Blog, the views and opinions expressed here are the contributing author’s only, and do not necessarily represent the views of the company.
Julia Bulakh for BTCMEX
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