Understanding the term Hold in Crypto, this is what it means!

Bittime - Learn about the 'hold' or 'HODL' strategy in crypto investing, its history, and situations when it is appropriate to apply to achieve long-term goals.

Understanding the Term Hold in Crypto

In the crypto world, hold means holding or storing crypto assets for a longer time without trading. In the world of crypto, the term hold or HODL has an interesting history. A thread on the BitcoinTalk forum uploaded by a user named "GameKyuubi" on December 18, 2013 shows its origins. 

Members of the crypto community then used the term "HODL", which is also an acronym for "Hold On for Dear Life", to describe the approach of holding or storing crypto assets for a longer period of time. This term denotes an investment strategy that gives crypto asset holders confidence and their resilience to sometimes unpredictable market changes. 

When Should Hold Be Done?

Basically, this is an important “skill” in the world of investing, including when it comes to crypto assets. Additionally, it is important to know that the strategy of holding crypto assets can be a good choice in certain situations. The following are some situations where holding back may be appropriate:

Price Has Not Reached Profit Target

If the crypto asset price has not reached the previously set profit target, holding could be a wise choice for investors. This strategy allows investors to give their crypto assets the opportunity to reach and achieve a predetermined profit target.

Make sure the price reduction occurs temporarily

A hold strategy can be a reasonable choice for investors who believe that the price of the crypto asset they hold has long-term growth potential and that the price decline is only temporary. In other words, investors believe that prices will recover from the decline and may even experience an increase in the future.

Trust Long Term Fundamentals

Investors will use a hold strategy if they believe that their crypto assets have strong fundamentals and have a lot of potential for use in the future. In this case, investors choose to focus on the long-term value growth of the asset and avoid short-term price changes.

Conclusion

The history of the term “hold” or “HODL” in the crypto world is very interesting and has become an important component of many people's investment strategies. The term first appeared in a thread on the BitcoinTalk forum in 2013, and later became an acronym for "Hold On for Dear Life". Investors believe in the long-term potential of their crypto assets and their resilience to market fluctuations.

Understanding when to hold is an important skill in crypto investing. This strategy can be applied in several situations, such as when the asset price has not yet reached the profit target, the price decline is considered temporary, and investors believe in the long-term fundamentals of the asset. As a result, holding crypto assets for a longer period of time can be a wise choice to achieve your long-term investment goals.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.