HODL, a perfect example of the Interweb's mighty power . One guy misspells HOLD as "HODL" and bam, it's the new term when referring to what you are HOLDING for cryptocoins.
I've also heard it stand for "Hold On for Dear Life".
So, you jumped in, neck deep into the crypto coin market. And things seem like they're starting to cool down. Well, wipe that crazy thought from your mind. Why...you may ask...well IMHO:
- We are still part of a VERY VERY small percentage of peeps that decided to dabble in this crazy market.
- Bitcoin is set to be "Forked" (look that up, it's important) several time starting December 28th.
- Fork = You will get a number of coins (typically 1:1 for each coin forked)
- B2X is the first fork and that is looking like it’s going to open at $600. YES! if you have a Bitcoin you will get $600 worth of B2X. It's how it works. Lose your mind, go ahead. I did. Frakken crazy right!
- Did I mention it's going to happen several times
Now, reality, a lot of these companies are going to fail. They're going to take their cash and burn through it. Start down development paths that lead to nowhere, which will end in miserable failure. However, there's and Apple out there, and a Microsoft, and probably a Facebook and several more.
Therefore, it's all about the HODL!
Buy and hold. Get involved with as many as you can. But BE SMART!
- Do your research (Google: "Best Crypto Research Sources" and start reading)
- Look for high trade volumes (low volumes can be a sign of garbage but there's gold in that garbage)
- Look on GitHub for proof that they have been at it for a while. (if there's 2 forks and 3 Commits, it's probably BS, run for the hills)
- Watch it for a few days and look for patterns in the chaos
- Spend some time learning how to read charts (MACD, MA, BOLL, etc. should all make sense)
- Build a portfolio that tracks all your positions in all your exchanges and wallets. Exchanges are not connected yet. 2018 will be the year of the utility. We will see lots of convergence in the market across the coins, tokens and tools)
As we all know, telling the future is impossible unless you're an X-Men mutant. But we can certainly learn from our past. The stock market and any market will have ups and downs. At the end of the day, the strong will survive and those who "Hold on for Dear Life", will surely be the winners!
-Cheers!