With Bitcoin dropping good subsequent $6,000 on concerns about how a latest Bitcoin flare will impact markets, among other things, we suspicion it was time to residence a romantic state of HODLers. While many who bought Bitcoin before Oct 2017 can still be adult on their holdings, there are many who didn’t get concerned until late final year, that assistance fuel a arise to roughly $19,000.
Various people have reached opposite stages on a Kubler-Ross indication of grief, though let’s reason on any one quickly to assistance establish where we as a HODLer stand.
Denial. This is only temporary. Bitcoin has a prolonged story of vast waste followed by even aloft prices. I’m in this for a prolonged haul, so who cares. (This is a second many common theatre for HODLers).
Anger. By distant a many common theatre for HODLers. Everyone is only stupid! Can’t they see how insubordinate this is? Why do they even let these ‘establishment’ idiots even criticism on crypto! Can’t everybody tell these people have no idea and are only safeguarding their possess self-interest! Just wait until Bitcoin hits $100,000, afterwards these doubters will get what they deserve!
Bargaining. Just let a SEC approve ETFs! we swear we will sell some a subsequent time we get to $20,000. I’ll be some-more clever subsequent time and not so peremptory in my approach. Just let a ETFs brush in a new call of users and we guarantee I’ll sell some into that rally.
Depression. Did we get suckered into something stupid? Why not only use credit cards? we don’t have adequate income to worry about all this. Did we unequivocally consider decentralized control was a good thing? Do we have any idea how this unequivocally works? What was we thinking? How foolish was I? How do we tell anyone we used tyro loans to buy this stuff? (No HODLer lasts in this theatre for really prolonged given it is contrarian to all they believed).
Acceptance. It’s a good technology. It will change a world, heck, it is changing a world. It will only take longer than we expected. we won’t reason all my assets in Bitcoin going forward, and we competence even sell some on a approach up, though I’m not giving adult nonetheless (at slightest not completely).
This latest pierce should exam a faith of many existent holders and emanate for some engaging discussions as we nearby a 1 year anniversary of a launch of Bitcoin Futures and that spike to $19,000.