The cost of bitcoin might be up marginally Wednesday, but that has not Precisely raised the spirits of the asset’s most enthusiastic investors. Rather, with the market which is about 70% higher than in 2017, several HOLDers, the bitcoin faithful who’ve pledged never to market, are becoming convinced they may have seen the last major rally before another long time bear market. In crypto lingo, it is time to put on some gloves for another crypto winter. Put more simply, investors now think they’ll confront a long time when the market may be unable to attract fresh investment.
Adding to the reasoning? . It is happened before. The cryptocurrency once dropped by 70 percent in a seven month time period from June 2014 to January 2015 – the longest bear market time period in crypto. At that time, many individuals panicked and sold. Except this time, bitcoin’s faithful say they’ll remain more optimistic. To remind themselves of what happened in the past, an on-line meme titled things I did throughout the 14/15 bear market is trending on social network right now. All of it started from Twitter user @PhilCrypto77’s tweet yesterday. And after that @WhalePanda followedSoon, it was over all Twitter.
Getting sentimental. A few of the articles were fairly serious and inspiring: Jokin around. Others took a more beautiful and interesting tone: Still, it is important to remember why the meme is still fashionable, as it reflects just how HODLers have discovered how to remain calm during tough times. In certain ways, this implies even the most sophomoric tweets may actually be an indication that the industry is maturing. How are you HODLing up? . Bitcoins in snow picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that strives for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.