Here’s Why We’re HODLing

It’s time to once again look back at the most memorable Weiss Crypto tweets and community feedback in the past seven days.

The markets have gotten pummeled over the last week by the China-fueled FUD as miners in the country were forced to shut down their operations.

Marija Matic took note of the bearish sentiment in her article, also making sure to mention the resilience of Chinese miners. They decided to hold on to their Bitcoin (BTC, Tech/Adoption Grade “A-”), as if anticipating the price recovery:

Then, earlier this week, Bitcoin shook the markets by plunging to test its May 19 lows. Alex Benfield laid out what happened ... and why our team was — and still is — long-term bullish on the King of Crypto and the broad market.

And if you look around, diamond hands are everywhere. Last week, Michael Saylor was a target of ridicule by those unable to see the big picture of BTC price action. To them, Juan Villaverde construed a response in a long thread that I strongly suggest you read:

Luckily, when it comes to you, our subscribers, it seems we were preaching to the choir:

We’re glad that our awesome community is on the same page concerning Bitcoin. We only wish that the U.S. government shared the same sentiment:

To everyone else influenced by this and any other FUD throughout Bitcoin’s shaky road to the moon, we offer some timeless contrarian advice:

Maybe Jim Cramer should take our advice as well?

Still, not everyone has paper hands, and a growing number of mainstream financial institutions are taking the hint, including Swiss bank Dukascopy:

Indeed, the underlying motive here is that crypto resilience beats FUD, which nowadays largely comes from governments and bastions of traditional finance.

Miners are forced into leaving China? The hashrate will simply migrate elsewhere.

The International Monetary Fund (IMF) pressuring countries to stay in a suboptimal, old-school financial environment? Instead of buckling under pressure, countries will find financial independence with crypto.

Indeed, as Sam Blumenfeld so eloquently put it:

So, in the future, when you hear that the crypto sky is falling down, simply do as we do and HODL.

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Stay safe and trade well,

Jurica Dujmović

About the Contributor

A MarketWatch columnist since 2014, Jurica covers science, technology, privacy, security and futurism, earning him the title of top three contributors for three consecutive years. At Weiss since 2011, he manages social media content and contributes regularly to Weiss Crypto Alert.

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