Binance research shows that HODLing bitcoin is the best strategy to get the best returns and earn suitable profits.
On the basis of some stats, the Binance research has suggested that if users do not want to miss out on the bullish moves of Bitcoin, then they should focus on HODLing bitcoin.
What is HODLing?
HODL is a word that is used as slang in the crypto community for the sake of holding the cryptocurrency rather than selling the crypto assets.
This was originally used by an inebriated user in a post published on Dec 2013 on the Bitcoin Forum message board. He posted with a typo in the subject and said: “I AM HODLING”.
Why Binance Suggests to HODL Bitcoin
Recent Binance research has suggested to HODL bitcoin. The reason behind this is that since 2013, the Bitcoin bullish moves in the market have occurred during the ten days of each year. This means that the annual bullish performance of the coin is recorded within the duration of only ten days.
Bitcoin gains 25% during these ten days. If these top 10 days are excluded from each year since 2013, then bitcoin would be down by -25%.
Users do not want to miss out on these top ten days of the year. Therefore, binance research has suggested users to HODL their bitcoins. And this is the best strategy to not miss out these days.
When in doubt? #HODL.
Not holding #Bitcoin on Dec, 7 2017 means you would have missed its largest daily absolute gain of $3,608 (25%).
— Binance Research (@BinanceResearch) November 14, 2019
Some analysts do not agree with Bitcoin HODLing
Though Binance research supports the strategy of Bitcoin HODLing but there are some analysts who do not agree with this point and says that users face losses when they act upon such type of strategy. The analysts say that if you have hodl’d bitcoin since Dec 2017 you are at the loss of around -50%.
A crypto analyst Joe007 has disagreed to this strategy and says:
Not selling #Bitcoin on Jan 6, 2018 means you would've missed its largest monthly drop of 65%. Followed by even more drops until it hit a whopping 85% drawdown.
HODLing is a nice meme but not exactly a rational value preservation strategy.
— Joe007 (@J0E007) November 14, 2019
For Binance, HODLing bitcoin is the best strategy for now in the crypto market and to get the best returns and profits through HODLing. So, just buy cryptocurrency, HODL, and wait for the best returns.
On the basis of some stats, the Binance research has suggested […]