When people speak about HODling, how much resilience and patience is required with regard to crypto trading?
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When people speak about HODling, how much resilience and patience is required with regard to crypto trading?
Holding onto your cryptocurrency for the long term takes extreme emotional control and patience, often needing to exercise this kind of patience for a number of years. There will be times when the price of an asset, like Bitcoin or Ethereum, will drop by as much as 50%–80% before the price starts toRead more
Holding onto your cryptocurrency for the long term takes extreme emotional control and patience, often needing to exercise this kind of patience for a number of years. There will be times when the price of an asset, like Bitcoin or Ethereum, will drop by as much as 50%–80% before the price starts to recover. Those who have a true HODL mentality will focus on the long-term and ignore short-term price changes, not panic sell during periods of fear or excitement, and remain committed to their long-term thesis, no matter what type of market they may be in at the moment. In addition, a HODL mentality means that you have put into place risk management strategies by only investing money that you are able and willing to not access for a long time.
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