Anthony Xie, the founder of hodlbot.io, noted that after February the number of HODL comments decreased significantly. He even asks himself: ‘Is it a dying meme?’
Hodl is an intended misspelling of the word “hold,” which is used among cryptocurrency enthusiasts when encouraging traders to
resist the urge to sell one’s holdings in response to market fluctuations
Following the term’s surge in popularity online, the backronym “hold on for dear life” was subsequently attributed to the term.
Bitcoin Talk Forums user GameKyuubi submitted a post titled “I AM HODLING,” on December 18th, 2013, demonstrating in favor of holding his bitcoins during a crash. In response to the post, many users mocked the misspelling of the word “hold” in the post title.
Alarming changes in trawlers
Anthony analyzed each report on Reddit and came to interesting conclusions. It is noteworthy that the calls of HODL sounded intense not only during the fall of bitcoin and its growth.
Moreover, the more volatility in the market, the more this word used.
The graph above shows how two bursts of use of the expression are directly related to the most massive losses and the highest growth in the market.
Moreover, on this graph, it is clear that after February calls for HODL have sharply decreased.
THIS MAY INDICATE A CHANGE IN THE investors’ mood
However, the changes have affected not only the amount of use of this word but also about it. For example, Anthony noticed that many began to react with irritation to this expression. For example, one of the many negative messages addressed to HODL is:
“Hopefully this stupid word dies out”
However, is the rejection of this magical word for crypto traders outgrown shortly in the global change of investor sentiment? Many begin to talk about cartels that purposely reduce the price of cryptocurrency to get rid of impatient players, taking possession of their bitcoins cheaply. Others see a direct connection with the beginning of Bitcoin futures trade on the American public exchanges, where it becomes possible to short bitcoin. Conspiracy conspiracies, and meanwhile the bear market is all stretched. Moreover, of course, all these changes are a direct consequence of the long bear market.
Moreover, we, as real holders, believe that after the market recovery, many will again encourage each other “HODL buddy.”