cryptocurrency

Beware Drunken ‘Hodlers’!

The Tronix HodlerThe guy who accidentally introduced the irritating word ‘hodl’ into the crypto dictionary was drunk. Some of the sentiments I have read on Twitter and Reddit from some of the ‘hodlers’ causes me to wonder if they, too, are not drunk.

One of the comments I have read from some TRX hodlers goes like this:

“I don’t care if Tron goes down to nothing I will hold it till I die!”

Ludicrous. The people who talk like this are in this for strange reasons. It’s like a religion or something. I would ask,

“And what good will you be doing anyone if you go to your grave hodling your hard wallet filled with the cryptos that are worth zero? How can you, on one hand, be talking Lambos and then, on the other, express your devotion to something even it is worthless?”

Such language belies an immaturity and a lack of understanding of how things work.

First and foremost . . .

it breaks an important rule of trading: Don’t trade with your emotions. I get that the rise of cryptocurrency is more than just a financial opportunity. It is tied to the present generation’s need to kick against the establishment. It is also about moving into the future. But it won’t be furthered by blind ‘hodling’.

Second, it shows ignorance of how things work.

In general, things are more complex and gradual than we often allow for. How many times have you read somewhere that a sudden rise in the price of TRX was the beginning of the blast-off we have all been hoping for?

I remember Thursday, February 8. TRX was trading around .00000468, when all of a sudden it started rising. Within thirty-six hours it had risen almost 100 points! One guy on Reddit laughed at another who had sold to low and said he would get back in when it dipped back down. “There aren’t going to be any more dips!” He said. My reply? “There most certainly will be.” This morning, almost two weeks later, TRX is trading at .00000437. There will be countless more rises and falls. That’s the way things work.

Finally . . .

with so many cryptos flooding into the crypto opportunity, the chances of anyone going to the moon (another sentiment I dislike) from here are slim. I believe TRX has a real shot at it, though, which is why I am trading for as much as I can get. But the moon? I don’t know and neither does anyone else. But there is a lot of room between here and the moon. Room enough to change your life financially, or at least help it.

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