Weak Hands Shaken Out?
People new to Bitcoin have got to embrace the simple fact that corrections happen and are going to happen, it is totally natural in the Bitcoinsphere
“Weak Hands” Have Been Shaken Out On The Bitcoin Crash To $10,000
Bitcoin price this past week collapsed from the 2020 high of over $12,400 to under $10,000. More than seven distinct drops to below $10,000 have been bought up already.
During each plunge down, however, some of the weakest hands in the crypto market may have been shaken out, according to one uncommon metric. If that’s the case, and bulls can hold support, the last chance to buy the dip before new highs may already be upon us.
The term HODL, or hold on for dear life, was coined – no pun intended – to help crypto investors cope with the extreme price swings the asset class is known for.
Rather than risk being shaken out, or trying to trade BTC for a profit with mixed results, long-time crypto investors advocate simply holding strong for the long-term.