16 min
6 Good Reasons for Bitcoiners to Keep Calm and HODL On The Breakdown
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- Investing
The Coronavirus got really extra real today for markets. A two and a half week selloff was tipped to the next level by a major ratcheting up of action from the US government (which still seemed clearly to be not enough to calm markets).
In bitcoin, this meant a drop from around $8000 yesterday to under $6000 today - a head-spinning dump, especially for those who are more recent to crypto.
Still, in this episode, @NLW argues that there are 7 good reasons to keep calm and HODL on:
It’s not just bitcoin
Correlation means infiltration
Peak fear
Asia on the upswing
Buy order behavior
Bitcoin’s been dead before
And a bonus: this environment is exactly what bitcoin was built for
The Coronavirus got really extra real today for markets. A two and a half week selloff was tipped to the next level by a major ratcheting up of action from the US government (which still seemed clearly to be not enough to calm markets).
In bitcoin, this meant a drop from around $8000 yesterday to under $6000 today - a head-spinning dump, especially for those who are more recent to crypto.
Still, in this episode, @NLW argues that there are 7 good reasons to keep calm and HODL on:
It’s not just bitcoin
Correlation means infiltration
Peak fear
Asia on the upswing
Buy order behavior
Bitcoin’s been dead before
And a bonus: this environment is exactly what bitcoin was built for
16 min