The term HODL first became famous due to an error made in a Bitcoin forum. The person meant to type HOLD, but he swapped the last two letters, and instead typed HODL.
What Does Hodl Mean?
To hodl means to hold on to an investment no matter what the market conditions are at the time, believing that the market will turn in your favour in the long-term. Hence I used a person holding on to a steering wheel for dear life, as the vehicle careens all over the road, at the same time not taking the foot off the pedal, to ensure that you reach your destination, come what may!
The other element is an upward moving candlestick pattern, revealing every hodler’s wish to have the market move up. That often depends on the time-frame used to view the chart. In this instance, it would be daily, weekly or even monthly. Hodlers “Hold On for Dear Life”. So they take a long-term approach.
The art gives a sense of the determined focus on the end-goal. Just as you would get into your vehicle with a clear intention to get to your destination, so you would pick a long-term investment with the clear understanding of making a profit. There may be rain, sun, hail, wind or other factors to deal with, but your determination to succeed wins out in the end!
The Advantage of Hodling
Hodlers that held during the 2018 market meltdown, have been handsomely rewarded. The returns subsequent to that have been amazing to say the least. As the saying goes “Time in the market is better than trying to time the market”. Hence the hodler will buy and hodl for the long run, until the asset produces a good return.
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