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Opinion

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.

By Nathaniel Whittemore
AccessTimeIconMar 12, 2020 at 7:00 p.m. UTC
Updated Sep 14, 2021 at 8:18 a.m. UTC
AccessTimeIconMar 12, 2020 at 7:00 p.m. UTCUpdated Sep 14, 2021 at 8:18 a.m. UTC
Breakdown3.12-1

AccessTimeIconMar 12, 2020 at 7:00 p.m. UTCUpdated Sep 14, 2021 at 8:18 a.m. UTC

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

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

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