When it comes to cryptocurrency typo memes and slang, HODL always appears first. In a cryptocurrency community, at the instance of a panic sell, a bitcoin investor mistyped HOLD as HODL. Check the bitcoin revolution App to get a deep analysis of bitcoin trading. Likewise, loyal digital currency investors start typing HODL on every social media handle and digital currency forums at every cryptocurrency market crash.
Bitcoin acquired global recognition for its intensive flickering nature in market value. In short, volatility is the fundamental feature of any famous cryptocurrency. Check YuanPay Group to get a deep analysis of bitcoin trading. In addition, experts have addressed the issue of considering bitcoin as a speculative asset. Here is everything to know about whether you should HODL this famous cryptocurrency.
Bear case!
Numerous factors rely on the spot value of BTC. The fundamental factors, frequent hack events and cryptocurrency scams inside the decentralized ecosystem have confirmed that a digital currency’s credibility attracts hackers and other bad actors. Many hack events and scam incidents became famous in the cryptocurrency marketplace. Mt Gox and Coin heck are two of the leading cryptocurrency hacks. As a result, the spot value of not merely BTC but other digital currencies also slid. Bitcoin futures present on popular cryptocurrency exchanges were intended to mitigate some extent of volatility.
However, bitcoin futures does not seem to exert a severe impact upon the fluctuating nature of this digital currency. Moreover, people have started fake trading courses promoting guaranteed returns in binance futures. Usually, government authorities are wary of BTC. Only government authorities of a few countries have taken a friendly stance towards the use case of bitcoin.
The subsequent launch of BTC to promote a decentralized ecosystem majority of the companies having virtual existence facilitated its use. But now, famous social media like Facebook, Twitter and Reddit no longer allow advertisements related to digital currency. However, this does not mean these social media do not support digital currencies. Still, to decrease the number of risks, these companies have restricted the streaming of advertisements related to virtual coins.
The bull case of bitcoin!
The bull case of bitcoin is much gigantic as the bear case of Bitcoin, as right now, bitcoin is touching the roof. However, considering the previous slumps, the spot value of this coin has risen every single time, and even this time, bitcoin is expected to rise in terms of market value.
The utmost recent announcements of government authorities and cryptocurrency regulation panels depict that no region will immediately ban the use of digital currencies. El Salvador’s president has stated that two more regions will join to make bitcoin a part of the central economy. Bitcoin exchange-traded funds will turn bitcoin investment and trading into an automated task making it extremely easy. The recent technical update in the BTC network correspondingly states the robust future of this coin.
Earlier, no node was ready to accept a lightning network, but nowadays, an immense number of nodes have begun to do so. In short, Bitcoin’s scalability will improve by a massive extent in no time. Moreover, a global exchange like Coinbase has executed a popular bitcoin hard fork with serrated technology. In short, the future of bitcoin is optimistic, and the price of BTC will be bullish gain in no time.
Bitcoin Maximalism!
Bitcoin Maximalism is a popular ideology in the decentralized community promoting the bull case of bitcoin. In this ideology, people merely support BTC and no other digital currency in the community. The number of people following such ideology is skyrocketing as influencers and celebrities are attracted to bitcoin.
Recently a famous pop star tweeted whether a cryptocurrency will outplay the USD. To this tweet, former co-founder of Twitter Jack replied, yes, bitcoin will. In short, people believe that no other cryptocurrency will dominate the traditional monetary system as bitcoin will.
The bottom line!
According to cryptocurrency bulls, bitcoin and other digital currencies confer a partial but predictable trial or configuration in terms of market value. For example, BTC has shown a similar pattern in the past, and the spot price of BTC exploded after such a pattern. On the contrary, cryptocurrency keeps addressing the increasing frequency of digital currency scams and theft attacks. Cryptocurrency bulls are correspondingly famous as FUDs as these people spread rumours in the market to make people sell their holdings.
