Dec 23, 2021
What’s in it for you when you hodl long term?
What sets apart cryptocurrencies from a downward-facing scam is the lack of promises that your money will quadruple in a short span of time. Investing in cryptocurrencies generally takes time and patience for you to see your money grow clearly. It does not magically surge whenever it likes, and a lot of factors influence it for it to soar.
A lot of traders nowadays see cryptocurrencies as a quick way to get rich. This could be due to news of how some who bought early are now millionaires, and they also want that kind of luck. However, they have missed an important fact that some simply can’t do, hodling as much as they could.
There’s a reason why some traders think twice when it comes to hodling. Sadly, it is rooted in a mindset of wasting time keeping their crypto for its slow-moving price point. They lose patience waiting for the market to reach a level they expect for them to be satisfied with the project’s performance. But this should not be it.
Every trader should understand that the great projects we see nowadays took time before they reached such heights. It did not acquire its market cap over a few months of innovations and improving the project’s technology, but it took years before it achieved such a feat. This is where the importance of hodling for the long term enters the picture.
Also Read: Ask the orb: What is FOMO, and why should we avoid them?
Hodling and time
BTC, ETH, and BNB reached $69,045, $4,878, $686 USD after 13, 7, and 4 years, respectively. These are the top three cryptocurrencies that dominate the market based on market cap, and as we can observe, it took years before it reached its staggering ATH.
For the longest time, it spent time at a price point that’s considerably low compared to its current performance. At that time, news, posts, and word around are on repeat, saying that it’s a losing game and people should salvage their capital whenever they can. Little did they know that this is the greatest regret one could ever have, considering that those who sold prematurely at a considerably low price could have been multi-millionaires by now.
If only they have hodl amidst the up and lowest low of the market, if only they did not listen to what the world has to say, if only they were patient enough to see through the tunnel of bearish season, they could have reaped the fruit of their wait like those who secured their hodlings and never let go.
Hodling with PrivacySwap
To get to the top, one must patiently hodl and wait. One must hodl on to their PRVG and PRV2 at least up until it soars to the moon. Whether it will take months or even years, one must be firm when the market experiences dip or surges. Always remember that when you sell prematurely before the significant surge happens, you cannot reverse time to correct that mistake you committed.
While it can be challenging to see your portfolio fluctuate over time, one should not falter as the end goal is wide and clear, as seen on the early crypto projects today. It must be clear within us that the wait is as sweet as honey, especially since we know a pot of gold awaits us at the end.
What’s in it for you when you hodl? It’s simple. It’ll be the fortune similar to every person who hodl their BTC, their ETH, and BNB through ups and downs without any doubt that the project will fail. So hodl tight, buy the dip, and see you all at the top!
Also Read: Trend lines and price predictions: Knowing how when to buy and sell for beginners
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