— WarriorPoets (@SurlyBull) December 22, 2017
Cherish these moments. Bitcoin hodl’ers across the globe watched the cryptocurrency slide 30% from all time highs. After dipping below $13K, Bitcoin finally settled a bit before recovering to the $14k range. Bitcoin and cryptocurrencies in general are notorious for wild and unpredictable swings in price. This plunge was enough to incite panic in some who had bought at all time high prices close to $20k a coin.
For now the selloff seems to be over but the Bitcoin market is volatile by nature. New users should only buy what they can afford to lose. It’s a high risk/high reward venture but the motto of Bitcoin adopters everywhere is hodl. A meme that simply means hold on to your coins through good times and bad no matter what, or (Hold On for Dear Life.) The meme originated with this post on bitcointalk.org below.
For more information on some of the events that preceded the crypto crash, check out this article about the Coinbase/Bitcoin Cash controversy, and share with us what you think were the reasons for the price collapse.