BREAKDOWN: 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.

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ABOUT

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

HOST

CoinDesk

CoinDesk is the world leader in news, prices and information on bitcoin and other digital currencies.

We cover news and analysis on the trends, price movements, technologies, companies and people in the bitcoin and digital currency world.