The narrative in the crypto space surely changed.
Atleast on twitter, a lot of people are saying if you just keep holding your coins you’re missing out.
On the other hand we want ETF’s to be approved, which do exactly that. (For anyone unfamiliar: Investing in ETF is basically buying a bunch of stocks, holding them for years, reinvesting monthly and living off the compound interest and average stock gains).
Now I get where these people come from: If you sold in December 2017 and did rebuy now you are off way better. Sure, but that kind of trading is not for everyone and you have to be informed about the space very well. Some people like the safe way, especially the common crowd like their money to be somewhat “safe”.
Which is why ETF’s exist in the first place, they are basically the safe version of trading stocks. Just buying it, not caring about anything else, and pulling out the money in 5, 10, 20 years.
And the crypto space is eagerly waiting for ETF’s to come into the crypto market, especially with the latest news that BlackRock — a very big investment company — is exploring the space to do so.
So on the one hand it is stupid to do it like ETF’s, on the other hand we want that?
Current cryptoinvestors probably only want ETF’s to be approved, so institutional money gets pumped in the market and their bags moon.
Sure, but does that make anyone who just holds onto their coins an idiot? Surely not.
You can always play techniques that make you more money over the long run, but this always comes with more risk. Daytrading with 100x leverage for years is probably the most profitable, IF you manage to hit all trades, which a) nobody does and b) is VERY risky.
Which is why I think #hodl is totally fine for most people that just want to be part of the space with less risk.
So, no they are not idiots if they just hold onto their coins, they just play it safe. Also I am sure most of them are already averaging down and/or rebuying all the time. So basically ETF’s already working.
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