Good day, everyone! My very first post here on Steemit will be today and it is during a Market Dip. And the dip is very deep. RED DAY. The current correction is a hot discussion in almost every crypto group. Others cry out load with their big losses while others have the heart to say just buy on dip or just HODL. Some claim it is because of the recent bans and regulating issues on certain countries. Most especially in China and South Korea. While others said it is because of the upcoming Lunar New Year. By the way, both mentioned Asian countries also observe Lunar Calendar. Isn't ironic? Don't you think?
Different opinions are everywhere. Other people suggests to sell their coins to avoid loss, while others recommend the opposite, to buy more on dip instead. There are also some people claims that the same scenario happened for the past few years during the same season. With that said, it may go up to the moon again.
For me, I choose HODL.
HODL is a term that was spelled unintended but now it is being used intentionally. Yes, it is just a misspelling of the word HOLD, meaning to keep. It did start when someone misspelled the word HOLD several years ago in an online crypto forum and then became a meme. Eventually, it became popular and now recognized as a normal word in the crypto lingo.
For me, HODL is that even you know that you may sell a coin at a certain price but you still choose to keep it. HODLing even you're tempted to sell it at the current price, either with a loss, to avoid further loss, or with a profit, to get more profit.
With that said, HODLing a coin may vary on the situation. Some HODLers are keeping the coin that they purchased at a very low price from an exchange or ICO or obtained free from an Airdrop and wants to sell it when it reached their target price. While others are HODLing the coin/s because they bought it at a high price, sometimes because of FOMO, and selling it at the current price will just result in a loss. Hence, they will just keep on HODLing until the value of the coin will give profit. Like today, the market dips.
The time frame or range of HODLing may depend as well on a situation. It can be for just a day or days, weeks, months, or even years. HODLing for just a day? Is it still be considered a HODL if it is just for one day? Yes, it is! Basically, it is like the word HOLD in the first place, right? You may hold things even for just a short period of time.
** This is not financial advice. Just sharing my thoughts. Have a good one. Cheers! :)