We crypto traders — who make our living buying and selling bitcoin, ethereum and other such exotic species — call it hodling.
Hodling. Rhymes with coddling. It stems from the day in 2013 when some chap with fat fingers on a Reddit forum was trying to say he was holding his bitcoin rather than selling because he didn’t want to sell at a big loss. He wrote it as “hodling” and we all cracked up. Pretty soon, pictures of Glen Hoddle would pop up on your screen every time bitcoin fell again. “Hodl it, mate.”
The word stuck, and boy are we hodling now. In my case, 80% of my crypto portfolio is down — some positions are 50% from their £17,000 purchase price.
Prices have been trading within pretty fixed limits for the past few weeks, up a bit, down a bit. But the top and bottom of that range are getting closer by the day. That makes me nervous because it’s times like this when prices suddenly break out.
Up, down, who knows? For people like me, with 55% of my portfolio in crypto, it feels like I’ve got to be up 24 hours a day, on watch. Because when the breakout happens, it’s going to be big. I just hope it moves up, not down. I’ve had enough hodling.
Portfolio: $34,981. 7 days: up 0.24%, 52 weeks up 289%.
