Thomas Lee Tells Investors to HODL on During Bitcoin Slumps

[coinpediaJordan]

Lee has been predicting prices for Bitcoin since it was below $3000. He said it will reach $25,000 by the end of this year and $55,000 by 2022. He says holding is more reasonable for those who missed the 10 best days at the start of this year.

Read more here: Thomas Lee Tells Investors to HODL

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[13abyknight]

-snip-

I heartily thank Mr.Thomas Lee for such wonderful words, as nobody has ever done that in the history of cryptocurrency trading_/s

Sarcasm aside, hasn't HODLing been the preaching of the town for a couple of years now? What's the point of repeating it just to listen it out from someone else's mouth? I seriously do not understand why there are so many big names trying to be predictors while it is still totally uncalled for. Investors have stayed here long enough to understand what exactly they're supposed to do while newbies are getting quick enough to grasp trends and make the decisions by themselves.

[Kingofbitcoin12345]

13abyknight is right.. Don’t wait for anyone to tell you what you should do,, follow your own predictions and no others.. It’s Thomas lee strategy and not yours.. You decide and research for your own,, so you won’t have to blame anybody or anyone for any consequences as a result..

I’m the king of bitcoin,, in my own right.. I do what I want even it isn’t a popular choice.. That’s what a decentralized investment means..

[peter0425]

I mean HODLing has been the our adage here. We have been bitching that for many years that its the best strategy to make profits without having any headaches. You can even buy 1 BTC and just let it sit in your wallet, protect your private key and that is.

But in this worst situation, we need to stress and emphasize this even more. Specially newbies we don't know or are a lost and the only thing they think is to get out sell their coins without thinking. We need to put some sense in them so that they would understand that is really better to hodl in times of crisis and don't lose faith in bitcoin.

[buwaytress]

@OP Sorry, not sure I've ever heard of Thomas Lee. Sure he's the expert he makes himself out to be, but I think we're full up on experts here already. As people point out too, holding is pretty much the oldest rule in the book. Slump or no slump.

I mean HODLing has been the our adage here. We have been bitching that for many years that its the best strategy to make profits without having any headaches. You can even buy 1 BTC and just let it sit in your wallet, protect your private key and that is.

But in this worst situation, we need to stress and emphasize this even more. Specially newbies we don't know or are a lost and the only thing they think is to get out sell their coins without thinking. We need to put some sense in them so that they would understand that is really better to hodl in times of crisis and don't lose faith in bitcoin.

Yeah. I think most people will have seen by now that buying Bitcoin and holding it would have done them far better than almost anything else. Cloud mining? Casino bankroll? ICO? Alt investments? Sure, even I made some profits from doing some of that (except cloud mining) but from all the days and weeks I put in keeping an eye on investments other than hold... think I could have done without them. Not saying the experience isn't handy. Just probably not worth the worry and heartache.

[kaya11]

I mean HODLing has been the our adage here. We have been bitching that for many years that its the best strategy to make profits without having any headaches. You can even buy 1 BTC and just let it sit in your wallet, protect your private key and that is.

But in this worst situation, we need to stress and emphasize this even more. Specially newbies we don't know or are a lost and the only thing they think is to get out sell their coins without thinking. We need to put some sense in them so that they would understand that is really better to hodl in times of crisis and don't lose faith in bitcoin.

Hodling existed since the beginning of trading stocks, and surely most of the people in the crypto community have backgrounds before entering this kind of investments, only the cowards sell and lose even more of their money. While for us people with experiences and what you so called "guts will continue to flourish. The higher the risk the more chances of getting rich. As for me I have already readied myself for what is waiting at the end.

[makolz26]

Wow! Hope we are all relieved now, let us not be panic always whenever the price was dropping for sure there is always a reason for everything, and now that the price of bitcoin as of the moment is $7k then $18k more to go before year ends, so for those who are still in doubt just watch.

[arpon11]

Lee has been predicting prices for Bitcoin since it was below $3000. He said it will reach $25,000 by the end of this year and $55,000 by 2022. He says holding is more reasonable for those who missed the 10 best days at the start of this year.

Read more here: Thomas Lee Tells Investors to HODL

This will encourage some of my friends that bought bitcoin early this year and most of them especially those that did not understand how bitcoin work are new to cryptocurrencies markets behaviors are panicking and see the current state as if they investment has gone. I seriously believe and from the historical data that bitcoin and most of the altcoins are going to recover and we would all be happy for holding.

[lite]

Lee has been predicting prices for Bitcoin since it was below $3000. He said it will reach $25,000 by the end of this year and $55,000 by 2022. He says holding is more reasonable for those who missed the 10 best days at the start of this year.

Read more here: Thomas Lee Tells Investors to HODL

Yep, holding seems to be a really good strategy, but do not hold forever! cash out some bitcoins when price is x3,x4 or whatever price you feel like it. i'm gonna sell some bitcoins when price will be $25k. 

Here's an interesting video to watch [1].

[1] https://youtube.com/watch?v=GGberGnxiJk  (Thomas Lee Presents The Economics of Cryptocurrencies)

[Hazaki]

You actually don't need any "bitcoin expert " to know that holding is your only option at such times because anyone with a brain leftover will be able to know this . But what bugs me is that such people are always making predictions that aren't backed by any theories or any strategies , and they tend to show up whenever the cryptocurrency is at it's highs or lows to just say what everyone are aware of and pretend to be "the experts" when all what they said is just written all over the forum by newbies ..
No matter what will happen next we hope it'll be for the best and whoever isn't capable of holding at such times will find himself regretting this , especially traders .
Panicking became traditions here whenever the market goes into a dip and such "false gods" tend to profit from it and never miss an opportunity to make statements and try to impress the community ..

[tora]

I think to HODL and purchase more at these low levels is about all we can do. If we sell many will make a loss but may be able to buy back at a lower price. Up to everyone what opinion they have.

[orions.belt19]

No one can accurately predict the price of bitcoin no matter how much of an expert you are, unless you’re an expert fortune teller. Holding of course is the only option for those who can’t buy and sell or short trade, because judging the price trend of BTC, it is likely that the price will be much higher in the future. Just for the past year, if you hodl some btc, you would already realize some profits. Of course, holding will only be profitable if you are able to convert your btc into fiat.

[xdrpx]

That's a good piece of advise for investors seeking to rely on cryptocurrencies volatities because of the possible high expected returns. Hodling sounds appropriate at first, but spending your savings is also a better bet. There has to be movement of cryptocurrencies to add weight and value to the "currency" part of it. Now, back to what Thomas Lee mentions, it's good to hear from a seasoned strategist and investor that Bitcoins are an important asset among his portfolio and it is clearly also importany like he has mentioned to follow the "10 best days" approach, if you've missed it the previous year and the years before it. The slump is clearly temporarily and several market tensions, for example regulatory risks and the on-going bear market is adding to it. We should also remember that most of these top investors would advertise to people to invest in cryptocurrencies of their preference, in order to make gains and reduce their own losses.