With Bitcoin dropping well listed below $6,000 on issues about how the current Bitcoin fork will affect markets, among other things, I believed it was time to deal with the emotion of HODLers.
While numerous who purchased Bitcoin prior to October 2017 can still be up on their holdings, there are numerous who didn’t get included till late last year, which assists sustain the increase to nearly $19,000.
Numerous people have actually reached various phases on the Kubler-Ross design of sorrow, however, let’s discuss every one briefly to assist figure out where you as a HODLer stand.
This is just temporary. Bitcoin has a long history of large losses followed by even higher prices. I’m in this for the long haul, so who cares. (This is the second most common stage for HODLers).
By far the most common stage for HODLers. Everyone is just stupid! Can’t they see how revolutionary this is? Why do they even let these ‘establishment’ idiots even comment on crypto!
Can’t everyone tell these people have no clue and are just protecting their own self-interest! Just wait until Bitcoin hits $100,000, then these doubters will get what they deserve!
Just let the SEC approve ETFs! I swear I will sell some the next time we get to $20,000.
I’ll be more careful next time and not so dogmatic in my approach. Just let the ETFs sweep in a new wave of users and I promise I’ll sell some into that rally.
Did I get suckered into something stupid? Why not just use credit cards? I don’t have enough money to worry about all this. Did I really think decentralized control was a good thing?
Do I have any clue how this really works? What was I thinking? How stupid was I? How do I tell anyone I used student loans to buy this stuff? (No HODLer lasts in this stage for very long since it is contrarian to everything they believed).
This story originally appeared in Forbes. Image courtesy of Shutterstock.