the term HODL which was a misspelling of the word "HOLD" is an Internet slang and meme that is used in the crypto currency community when referring to holding onto the crypto-currency for a longer time rather than selling it.!
SOME ADVICE;
For starters, we can value cryptos and make money in its highly volatile, but lucrative market. these are some few tips;
First analyze the trading volumes of the coin you want to invest in. Always go for cryptos with high daily trading volumes. these high volumes signal to a coins liquidity and the presence of an active community. with low volume cryptos, in most cases, they have a very weak community supporting them so they can easily get removed from exchanges, leading to losses. Make use of the Sharpe ratio of the crypto-currency, then,narrow down on the coins that have the highest ratio, relative to other markets to profitable crypto-currency-trading.
Now, keep updated on the news of the cryptos, you have to narrow down your list to a few cryptos that have a good potential for profitability. Take note of the ones that have the potential to take-off faster than the rest within some few years. That is why you need to keep updated with the news by checking from different sources.
Some advice: Buy, sell or hodl?
It is stressful to hodl your coins, even the high hodlers would be lying if they claimed they are'nt at least a little bit stressed when hodling. So i got a big question for you, "Do you believed in the future of the crypto technology? or You are only in it for the quick cash?" If your answer is "For Quick Cash" then am sorry to burst your bubble. because no one knows when the crypto market will go up or down, all we can do is look into the years of history of the market and make guesses.But if your answer is that " you believe in the technology" then you are in for some thing big and great. then it means more than likely you are in it, for the long term. Now you may have lose a lot of coins, probably everything depending on which coins you invested in, but if you believe in the technology and hold "HODL", if you are in it for the long term,then you invested knowing the risk i guess. its incredible how Bitcoin went from nothing to 17,000 from the year 2009 to 2017. i can say not to worry, if you decide to invest in cryptos and HODL for a long term you are for a great deal. By the end of 2018, if you hodl, your either going to have less than what you're currently holding now or may be more than that. So if you sell now, you might lose big. especially If everything increases after you have sold, you will really feel bad.
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With these steps in mind, chances are that you will do a profitable-cryptocurrency-trading in the crypto market. Don’t just buy based on what you see and hear online, in most cases that is not based realities of the crypto-market .
Feel free to comment, up-vote and share your thoughts. thanks!!!!!!
