Paper Hands Vs Diamond Hands.
If you’re still here after this morning’s flash flood of drops and losses, then you have most definitely heard of the terms paper hands and diamond hands. Crypto losses today humbled us all. And you either came out holding on for dear life and showing the true meaning of diamond hands or selling off your crypto and taking those losses.
Here is your simple explanation of what paper hands and diamond hands are for those who don’t know. Paper hands are the opposite of diamond hands, it means people who are nervous, not strong-willed, and panic sells as soon as they see a correction in the crypto prices. People with paper hands will look back 2-4 years at crypto prices and realize they made the biggest mistake in their life. Diamond hands mean that you never sell your position no matter what. Even when you are suffering major crypto losses, you hold on for dear life (HODL).
Diamond Hands Bitcoin And Hodl.
First, zoom out and look at the entire graph, not just the last 14 days, more like the last 12 months. The second thing is to have belief in your investment. Bitcoin is unlike anything we have ever seen before. It is the superior and best long-duration asset. Take some pride and solace in the fact that Bitcoin holders are some of the most loyal, strong-willed and devoted people you will ever find. There are some other great tips that you can use while investing in crypto, like dollar-cost averaging, buying the dips just like today, and, as the title of the article suggests, use your Diamonds Hands.
Elon Musk, China, and a lot of more Crypto Fud.
There is no denying that these last couple of days have been very rough as a crypto holder. Whether it was bitcoin, Ethererum, or anything else, you felt the pain today. It is a very similar pain that crypto holders have felt before because the news is trying to bring down Bitcoin never and, it never changes. They keep recycling the same stories. The news regarding Bitcoin and China is old news! We’ve heard this same talk for five years now, “China will ban bitcoin,” China regulates and stops Bitcoin,” time and time again, Bitcoin overcomes this. Elon Musk’s recent Bitcoin news, however, is an unknown variable at play. Elon seems to influence Bitcoin and Crypto stocks in general, but even the mighty Elon can’t control Bitcoin. Bitcoin is more significant than any CEO, any investor, any fund. Bitcoin is inevitable.
Is Bitcoin still in a bull market?
The long and short answer is yes. The bull market is not yet over for Bitcoin. Top analysts across the board say that Bitcoin hasn’t reached its top yet and is nowhere close to the price target. ARK hedge fund manager Cathy Wood was recently on Bloomberg, and they asked her after the Wednesday morning Bitcoin crash, is she still bullish? And she said Bitcoin would reach $500,000 by the end of 2021. Her answer was short and straightforward and set waves across the Crypto world, and Her answer was yes, Bitcoin will still hit $500,000.
Nothings Changed. Buy the dips, dollar cost average, and simply Hodl. In 3 months, 6 months and 1 year, you will look back at the May 17th Bitcoin crash; it will be a funny memory. It will be remembered as either when you bought low and made a fortune or got scared and sold and missed a possibility for life-changing wealth. This correction will be no different from any other time that bitcoin dropped and media-fuelled panic, and they said bitcoin was dead. When Bitcoin dropped from $30 to $2, they said it was dead, from $220 to $70, they said it was dead, from $20,000 to $3,000 they said the same, and now $64,000 to $40,000 keep singing the same song. Let’s see who’s right between us. Will bitcoin rise again?