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6 Good Reasons for Bitcoin HODLers to Stay Calm
From today’s buy order activity to bitcoin’s historic ability to bounce back after being pronounced dead, a few calming notes in a day of chaos.
From today’s buy order activity to bitcoin’s historic ability to bounce back after being pronounced dead, a few calming notes in a day of chaos.
STORY CONTINUES BELOW
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The coronavirus got really extra real today for markets. A two and a half week sell-off was tipped to the next level by a major ratcheting up of action from the U.S. government (which still seemed clearly to be not enough to calm markets).
In bitcoin (BTC) , this meant a drop from around $8,000 yesterday to under $6,000 today - a head-spinning dump, especially for those who are more recent to crypto.
Still, in this episode, @NLW argues that there are 7 good reasons to keep calm and HODL on:
- It’s not just bitcoin
- Correlation means infiltration
- Peak fear
- Asia on the upswing
- Buy order behavior
- Bitcoin’s been dead before
- And a bonus: This environment is exactly what bitcoin was built for
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
Nathaniel Whittemore
NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.
