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HODL Bitcoin — Here’s Why

HODL Bitcoin — Here’s Why

Anyone telling you investing is easy is lying.

It takes patience, a little bit of guts and fortitude to stick to what you believe in to make the large returns over the years.

I know from experience that when you’re in it, it stinks.

But when you come out on the other side, you will feel a sense of accomplishment knowing you endured the big swings to get the big gains.

This has happened before. It will happen again.

Since the 1890s, the Dow Jones has seen its fair share of ups and downs and will only continue as it reaches 100K.

There was the roaring ‘20s followed by the Great Depression … the tech boom of the ‘90s with the dot.com bust in the early 2000s.

Yet, fortunes were made by many who stuck around, kept their Strong Hands and invested in the rapidly growing innovating economy of the future.

There’s one great example that comes to mind — bitcoin.

Bitcoin has been around for 13 years, but it is shaping up to become a tried and true asset in its own right … but not without its own volatility.

Bitcoin’s 6,899,000% Rise Was NOT a Straight Move Up

We call bitcoin “digital gold.”

It is finite, with only a 21 million supply and it’s easier to use.

However, that concept wasn’t so easily adopted in the beginning, back in 2009.

Bitcoin was trading for a few dollars and cents at the time.

There weren’t too many that thought bitcoin would actually be a success. Most laughed it up as a joke.

However, last year bitcoin reached $69,000.

From $1 to $69,000. That’s a 6,899,000% return.

It would have been nice to jump in back then. People who laughed are kicking themselves.

Those who held had to endure three separate crashes greater than 80% in 2011, 2014 and 2018.

Take a look:

Bitcoin volatility and price movement

You might be feeling “volatility pains” with your growth stocks right now.

But don’t let it shake you out. Take it from a bitcoin investor…

They know the power of Strong Hands because after every fall bitcoin comes back to make an even higher high.

Even right now, bitcoin is trading about half of what it was back in November of last year, but I believe many are still holding on for dear life — or HODLing in crypto speak.

Build Strong Hands With Bitcoin

At Bold Profits we are all-in on bitcoin, crypto and blockchain technology across our services.

For more info on blockchain and how we’re recommending to invest, click here.

We embrace its volatility…

It’s like weight lifting for our Strong Hands.

A good workout has its moments of pain, but afterward is the feeling of satisfaction that you accomplished something.

Remember we believe bitcoin is better than gold. And bitcoin’s market cap is less than a trillion. Gold has a market cap of around 10 trillion.

There’s plenty of room for bitcoin to move higher — stealing market share from gold. But it won’t move without large swings up and down.

Paul went through it in 2018:

(Click here for more of Paul’s Strong Hands insights!)

But here’s the thing.

The way to see through the psychological pressure of holding Strong Hands is to separate the price performance from the opportunity.

The questions to ask are: Has the opportunity changed? Has the upside shifted?

With bitcoin, our analysis was simple.

We had a digital, electronic version of money that’s global, finite, divisible and portable like nothing else we’ve ever had before.

Nothing has changed.

We’re still bullish on bitcoin.

If you believe in the opportunity, in the growth that these innovations are going to bring, then in my opinion, it makes zero sense to sell.

You have the power to decide what’s right for you. But if you want my opinion, work those Strong Hands muscles and stay in — HODL!

Happy investing,

Patrick Goodrich

Patrick Goodrich

Analyst, Bold Profits Publishing

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