The Evolution of HODL
Jul 19, 2021
Do you know what it means to HODL? It should come as no surprise that the cryptocurrency community has its own vernacular. A set of terms, phrases, and acronyms, that signify types of market movements, trading strategies, and more. Perhaps the most famous word of them all, HODL, had its roots during the early days of Bitcoin and cryptocurrency.
Where did HODL come from?
HODL began as a typo in 2013. Originally part of a hastily written message by BitcoinTalk member, GameKyuubi, HODL marked the beginning of the crypto language we’re coming to terms with. In reference to the cryptocurrency market movement at the time, GameKyuubi’s post said:
“I AM HODLING”
Not just a typo
Since then, the term HODL has taken on a life of its own. What started as a typo, has become the term for a long-term trading strategy, and so much more. Since that timely typo, more terms have come along to join the cryptocurrency lexicon. These include: BUIDL, Whale, To The Moon, Forking, and others.
What does it mean to HODL?
As a trading strategy, HODL has been adopted as a long-term practice. Holding on to their cryptocurrency, rather than exposing it to trades or selling it, HODLers are long-term cryptocurrency holders. Rather than focusing on short-term trading, HODLers actively seek to build and keep their cryptocurrency, riding out market volatility and holding on tight to their crypto. As the world of cryptocurrency has expanded, HODL has become associated with the term “Hold On for Dear Life.”
When do you HODL?
If you’re a HODLer, you’re committed to your cryptocurrency for the long term. The trading strategy of HODLing is most often seen in a bear market, or during times of extreme crypto market volatility.
HODL and SODL
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Start your cryptocurrency journey with MultiBank io. Remember, proper diligence and sound judgment should be used in evaluating the risks associated with these activities.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of MultiBank io. No information in this article should be interpreted as investment advice. MultiBank io encourages all users to do their own research before investing in cryptocurrencies