- Hodl, popular slang in the crypto community, is used to mean holding the cryptocurrency rather than selling it
- In response to the poll’s outcome, Plan B expressed pride on the fact that 72% of his followers are ‘hardcore Hodlers’
- Another poll that created by PlanB in July has shown that 51% of Bitcoin investors believe the price of the world’s most valuable crypto asset will hit beyond $100,000 before the end of 2021
The question in a recent twitter poll created by popular crypto expert ‘Plan B’ was: Despite being bullish about Bitcoin, when would people sell it if, under hypothetical conditions, its price doesn’t increase sharply in the next years? The options included BTC<$6000 which received 16.2% votes, BTC <$3000 which received 5.95 votes and BTC<$1000 which received 5.8% votes. With 72% votes, the winning category was ‘Never, I ride it to $0.’ Around 22,635 users took part in this poll, and results went on to show the frenzy of Bitcoiners when it comes to world’s number one cryptocurrency.
The Bitcoin Vision
Hodl, popular slang in the crypto community, is used to mean holding the cryptocurrency rather than selling it. In response to the poll’s outcome, Plan B expressed pride on the fact that 72% of his followers are ‘hard core Hodlers’. He congratulated the ‘ride all the way’ spirit of Bitcoiners irrespective of fluctuations in the cryptocurrency’s price, and highlighted vision, conviction and patience as the name of the game.
‘Penthouse or Outhouse’
User reactions were mixed. Take John Schuck for example, who feels the fact that 72% of people would rather lose everything than to admit they were wrong and try to recoup something, is indicative of a ‘dangerous’ cult following.
A Twitter user with handle WaHoo, evidently a true blue Bitcoiner, admits that he had turned a naysayer due to the COVID 19 situation. However, after seeing the Bitcoin market soar despite all odds, he is back in the Bitcoin bandwagon and will continue to ride it till he makes it ‘either to the penthouse or the outhouse’.
Bitcoin could hit $14,000 USD Next
Another poll that created by PlanB in July has shown that 51% of Bitcoin investors believe the price of the world’s most valuable crypto asset will hit beyond $100,000 before the end of 2021. Is it only speculation from crypto enthusiasts, or is it a reflection of latest crypto market trends?
A tweet by trader and analyst Jacob Canfield says that there’s a strong possibility of Bitcoin price hitting $14,800 per coin in the near future.
This doesn’t seem unlikely, as data reveals Bitcoin is now trading just above the 11,800 USD mark and gained over 2.7% on Friday. It also touched 28% plus in the last 30 days and has witnessed a steady rise of 26% over the last 90 days.
Craze for hodling continues
The poll result may only be an indication of the real picture. For instance, San Francisco-based cryptocurrency exchange Coinbase this week said it’ll soon allow American customers in select states to borrow cash and use their Bitcoin holdings as collateral. The new feature, expected to hit the market by fall 2020, will let users borrow up to 30% of their Bitcoin holdings, or up to $20,000 in cash, at an eight per cent APR.
Now that’s some great news for Bitcoiners, giving them an extra reason to ‘Hold on for dear life’!