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6 Good Reasons for Bitcoin HODLers to Stay Calm
From today’s buy order activity to bitcoin’s historic ability to bounce back after being pronounced dead, a few calming notes in a day of chaos.
Updated Sep 14, 2021, 8:18 a.m. Published Mar 12, 2020, 7:00 p.m.
From today’s buy order activity to bitcoin’s historic ability to bounce back after being pronounced dead, a few calming notes in a day of chaos.
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The coronavirus got really extra real today for markets. A two and a half week sell-off was tipped to the next level by a major ratcheting up of action from the U.S. government (which still seemed clearly to be not enough to calm markets).
In bitcoin (BTC) , this meant a drop from around $8,000 yesterday to under $6,000 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
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
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When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
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- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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