HODLing might appear to be a concept that seemingly contradicts the concept of trading. HODLing is nothing but “Hold on for Dear Life” a concept that several crypto traders have followed at some point or other. There are two types of people who trade with cryptocurrencies. There are some that trade short term where they buy currencies and then sell them off when the price reaches a high that they predicted. These give short and small profits. And then there are the HODLers. These are people who buy coins and then forget about them. They wait and watch the price grow and grow till it hits a massive high and then they would be able to effortlessly reap their profits. No matter which category you belong to, if you wish to easily make money from crypto trading then there are bots like the Bitcoin Loophole. If you read the Bitcoin Loophole full review you would be able to understand what exactly this offer and how these bots are beneficial.
When should you HODL?
That is the big question you should be answering. Because knowing when to trade and which crypto coins to trade at the given point and when to HODL and which coins to HODL at a given point is what makes you a smart crypto trader. This is a common strategy used by people who like to make use of the market crashes. Even the most trusted coins might drop a great deal when the market falls and buying in this dip and holding on for dear life would give a large profit in the long term. And there is one other group of people that HODL and those are the ones that bought at a market high. Imagine having bought a coin just when it hit its high, then you are left with no other option but to wait for the price to drop and then rise above the high that it previously grazed.
Why should you HODL?
The crypto market is known to work in cycles much like the other markets. So there are chances of the prices reaching the levels that were reached in the past.
There are regulations and talks going on in major world nations about the use of cryptocurrencies. And financial institutions plan to offer crypto trading platforms as well. With a lot to happen in the future, it would make perfect sense to hold and wait for the market to reach a high rather than to take emotional decisions. But at the same time, if you are someone who spends a lot of time watching the market then this time of high volatility would be good for short trades.