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6 Good Reasons for Bitcoin HODLers to Stay Calm
From today’s buy order activity to bitcoin’s historic ability to bounce back after being pronounced dead, a few calming notes in a day of chaos.
Updated Sep 14, 2021, 8:18 a.m. Published Mar 12, 2020, 7:00 p.m.
From today’s buy order activity to bitcoin’s historic ability to bounce back after being pronounced dead, a few calming notes in a day of chaos.
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The coronavirus got really extra real today for markets. A two and a half week sell-off was tipped to the next level by a major ratcheting up of action from the U.S. government (which still seemed clearly to be not enough to calm markets).
In bitcoin , this meant a drop from around $8,000 yesterday to under $6,000 today - a head-spinning dump, especially for those who are more recent to crypto.
Still, in this episode, @NLW argues that there are 7 good reasons to keep calm and HODL on:
- It’s not just bitcoin
- Correlation means infiltration
- Peak fear
- Asia on the upswing
- Buy order behavior
- Bitcoin’s been dead before
- And a bonus: This environment is exactly what bitcoin was built for
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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