Cryptocurrencies Crashing! Why you should HODL on to your positions. Definition of HODL.

Definition of HODL:

https://www.urbandictionary.com/define.php?term=hodl

An "on purpose, kinda" misspelling of "hold" - first coined in the altcoin sphere in 2013 & later said to imply "Hold On for Dear Life". It reinforces the financial concept that you don't sell in a Bear Market. You ride it until the bitter end, or the price comes back up. (Hint: Crypto prices usually comes back up.)

My fellow Steemians,

There is a lot of volatility in the market nowadays with cryptos crashing.However, this isn’t the first time this has happened, and the market has always recovered. Why are cryptos declining rapidly?

There are some fear driven headlines out there, but they are insignificant and best to ignore:

-Some regulators want a global regulatory environment. This is very unlikely, because most countries don’t seem to agree on anything and probably never will.

-In South Korea they wanted to prohibit currency trading, but finally allowed trading. The government decided that there could be no anonymous accounts. So, the Koreans must register their ID when they open a crypto account, like they do for so many other things. This is not a big issue.

-It is also not new that China is trying to prohibit crypto trading. The segment they are trying to ban is less than 20 million usd per day. Which is peanuts compared to other asset classes. If the Chinese are not allowed to trade in China, they will transfer their business to other countries.

The bottom line is that we are still very early in this new asset class; most people still aren’t buying! The market of this new asset class is still minuscule compared to other asset classes.

Be patient, keep an eye on the big picturen and HODL on !

Thank you for reading!