The price of Bitcoin may be up slightly Wednesday, but that hasn't exactly raised the spirits of the asset's most avid investors.
Rather, with the market now down roughly 70 percent from 2017's highs, many HOLDers, the bitcoin faithful who have vowed never to sell, are becoming convinced they might have seen the last big rally before another long-time bear market.
In crypto lingo, it's time to put on some gloves for another "Crypto winter."
Put more simply, investors now think they'll face a long period where the market might be unable to attract new investment.
The cryptocurrency once dropped by 70 percent in a seven-month time period from June to January 2015 - the longest bear market time period in crypto.
Except this time, bitcoin's faithful say they will stay more optimistic.
To remind themselves of what happened in the past, an online meme titled "Things I did during the 14/15 bear market" is trending on social media right now.
Still, it's important to remember why the meme is still trendy, as it reflects how HODLers have learned how to stay calm during tough times.
In some ways, this means even the most sophomoric might actually be a sign that the industry is maturing.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Things I Did... Bitcoin Braces for Bear Market With Feel-Good Tweet Session
Publicado en Jun 14, 2018
by Coindesk | Publicado en Coinage
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