What is HODL?
What is HODL?
The term HODL is a concept that emerged as a result of a typo made by a user named GameKyuubi while writing the English word HODL, which means to keep, in a forum. This term, which increased in popularity in a short time, spread virally and was loved and adopted by the crypto community.
You may be interested: What is a Bitcoin Mixer?
HODL’s philosophy is to hold crypto money for a long time without being affected by short-term price movements. It is carried out by people who adopt a buy and hold strategy, and these people believe that the crypto money project they are investing in will develop and will gain high value in the future. Therefore, they prefer to keep it in their wallets in the long term rather than sell it in the short term. For example, when
Bitcoin
was first launched, it can be called HODLer for investors who bought BTC and still did not sell it. To give a numerical example of this, according to intotheblock data as of the date of publication of the block, most Bitcoin accounts cost $ 450 and below. When we look at the last time Bitcoin was at $ 450 and behind, the dates show the week of November 18 and before. So it seems that these wallets are HODLs that started investing in Bitcoin early. Apart from this, although HODL is paired with Bitcoin, it is important to remember that it is a strategy that is common in all crypto coins and adopted by many investors around the world.
However, the fact that newly opened Bitcoin wallets have reached the peak of the last 2 years shows that investors adopting the HODL strategy are on the rise. The fact that new investors entering the crypto world have adopted this strategy indicates that investors have high faith in Bitcoin technology and the positive innovations it can bring to the world. While this belief also shows the trust in crypto coins, it seems that there may be breaks from traditional financial products and will increase in the coming period, especially in this pandemic period where excessive borrowing of countries draws attention.