Crypto terms: hold on for dear life (HODL)
The definition of HODL is: Hold On for Dear Life. It’s a word that was created in 2013, when the price of Bitcoin was going down. People started to panic and sold their coins, which caused a crash. Someone took the opportunity and bought as many Bitcoin as they could on this crash. HODL is used to show people that no matter what happens, you should always keep your coins and not sell them.
The term was once again being used during the 2017 bull run and it’s been integrated in popular culture with multiple clothing brands creating apparel with this term on it.
HODL is also a secret community that you must be invited to join and once you do, you’ll have access to their Discord channel, where people just talk about their experiences with cryptocurrencies.
HODL is a term commonly used by cryptocurrency investors that refuse to sell their cryptocurrency regardless of the price increasing or decreasing. It is more frequently used during a bear market when people refuse to sell their coins despite the price drop.
The term originated from an episode in a Bitcoin chatroom when an alcoholic/addict was speaking about how he was holding his bitcoins. Over time, people began to use the term HODL in place of I AM HOLDING (when sending a message) to represent that they were refusing to sell and were happy to hold for the long-term.
Today, HODL is widely used by cryptocurrency enthusiasts and has grown into a movement. Whether it be investors waiting to see how much the price of their cryptocurrency will increase or reminding themselves that they are invested for the long-term, it is commonly used.
Along with I AM HODLING, another popular phrase amongst cryptocurrency investors is FOMO which means "fear of missing out." This is also used when someone is regretting not having invested in a particular coin when they heard other people talking about it but did not join in on the conversation.
Holding on to your cryptocurrencies no matter what is quickly becoming the norm in this stages of the cryptocurrency industry. "If I will advice you today, I'll tell you I'm still HODLing your BCH.
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