What is HODL and how to efficiently?

HODL and using it's concept as a thumb rule analyses

By SyllyBirdy | Living with Crypto | 13 Nov 2023


HODL or an acronym for "hold on to dear life" is a term used by crypto users to hold onto a particular crypto or coins instead of selling it in belief that the price will rise. The elements of a good crypto to HODL in my experience has been cryptos and tokens that is low in value that is more 0E-07 or 0E-06.

The more zeros in the decimal side the better. Simply because human's psychology that dabbles in trading on a subconscious level that are wired to "Buy low and sell high". Provides ample opportunities for HODL or even scalping that is selling for low profits but doesn't have to HODL that long. Although the world of FIAT and crypto is different. Conceptually it is very similar in nature and psychology because the participants are humans.

For example the PEPE coin that had been making noises in past few months and still is although the hype had significantly died out. Although it had significantly died out that is, the hype. It is still in my personal opinion. A coin still worth HODL-ing.

 

PEPE coin

 

This is the simplest analyzation technique that doesn't take much investment of time nor technical techniques that any crypto users can use as a sort of "Fundamental Analysis" in choosing coins they want to HODL.

Naturally, there are other risks involved that includes the contractors and other unforeseen elements.

As any investment advices, always use money that you can afford to lose. Peace of mind is in a way, something that money can't buy and in the end of it all, you were always the one who made your own decisions.

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SyllyBirdy
SyllyBirdy

Adventurer of the new financial world seeking for financial freedom. Journey with me.


Living with Crypto
Living with Crypto

A blog of my own experience and analyses in the crypto and digital currency world where you can learn from my mistakes to be savvy enough to traverse into the new financial world that had dawned upon us that is digital currencies. Those who traverse this path are either enthusiasts of the new financial world or those who seeks financial freedom in it's multitudes of unexplored opportunities.

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