- Crypto traders should be prepared to HODL, says Gemini crypto exchange co-founder.
- Bitcoin price continues to drop and its currently trading at $45,222.72
A tweet recently posted by Cameron Winklevoss the co-founder of Gemini cryptocurrency exchange has brought mixed feelings on Twitter. Interestingly, it has turned out to be a debate with some agreeing with Cameron while some beg to differ.
If you aren’t prepared to HODL, then you probably shouldn’t be here
— Cameron Winklevoss (@cameron) May 17, 2021
HODL began as a typo for the word “hold” on a bitcointalk.com forum and is an acronym for “Hold On for Dear Life”.
Cryptocurrency investors use the term for refusing to sell their cryptocurrency. This is regardless of the price increasing or decreasing. It refers to not selling, even during strong market volatility and poor market performance.
Apparently, the tweet by the Winklevoss twin, Cameron has ignited some various thoughts on Twitter. Crypto investors such as @crypto_tolkien replied to the tweet stating that:
‘Exactly. Cryptos are a game changer and haven’t even begun mass adoption. Banks, cities and nations will be getting into the space. We are still early, and have so much value to offer. Cryptos are the future.’
Few understand how early we are. Just hold and turn off the screen, added the comment.
However, on the other hand, some have different perspectives regarding the tweet.
@UniversalVoider commented that
‘Why would one hodles, if one is able to sell near the top/take profits and buy the dips later on again? How long is someone supposed to hodl? 1 month? 1 year? 10 years? Until death? If they are supposed to hodl every dip, when will they take profits in their life?’
Recently, Bitcoin prices have been dropping drastically. More so, reaching their lowest in more than three months. The world’s largest digital currency by market capitalization dropped to as little as $45,222.72 at the time of writing.
Trending cryptocurrency Dogecoin has also plummeted to $0.49 at the time of writing from its all-time high price of $0.79.
- PARSIQ Brings Smart Triggers to Autonio’s AI Trading Suite
- Litecoin Pumps by 12% As Crypto Market Show Bullish Signs
- Bank of America Joins Paxos To Allow Same-Day Trade Settlement
- QiSwap DEX Announces 2nd QI Token Airdrop to Fuel Ecosystem Growth
- SingularityNET Partners With Ocean Protocol as It Gears up for its Anticipated AI-Based DeFi Fund Launch