Things I Did… Bitcoin Braces for Bear Market With Feel-Good Tweets

June 15, 2018
104 Views

The price of bitcoin (BTC) may be up slightly Wednesday, but that hasn’t exactly raised the spirits of the asset’s most avid investors.

Rather, with the market now down roughly 70 percent from 2017’s highs, many HOLDers, the bitcoin faithful who have vowed never to sell, are becoming convinced they might have seen the last big rally before another long-time bear market (as happened in 2014).

In crypto lingo, it’s time to put on some gloves for another “crypto winter.”

Put more simply, investors now think they’ll face a long period where the market might be unable to attract new investment. Adding to the reasoning? It’s happened before.

The cryptocurrency once dropped by 70 percent in a seven-month time period from June 2014 to January 2015 – the longest bear market time period in crypto. At the time, many people panicked and sold.

Except this time, bitcoin’s faithful say they will stay more optimistic.

To remind themselves of what happened in the past (and to prepare for a possibly tough time ahead), an online meme titled “things I did during the 14/15 bear market” is trending on social media right now.

It all started from Twitter user @PhilCrypto77’s tweet yesterday.

And then @WhalePanda followed:

Soon, it was over all Twitter.

Getting sentimental

Some of the posts were pretty serious and inspiring:

Jokin’ around

Others took a more delightful and entertaining tone:

Still, it’s important to remember why the meme is still trendy, as it reflects how HODLers have learned how to stay calm during tough times. In some ways, this means even the most sophomoric tweets might actually be a sign that the industry is maturing.

So, how are you HODLing up?

Bitcoins in snow image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

https://www.coindesk.com/things-i-did-bitcoin-braces-for-bear-market-with-feel-good-tweet-session/

You may be interested

Israeli Court Rules Bitcoin Is an Asset in Feud Over Tax Payment
Crypto News
22 views
Crypto News
22 views

Israeli Court Rules Bitcoin Is an Asset in Feud Over Tax Payment

btcethereumadmin - May 22, 2019

An Israeli court has ruled that bitcoin is an asset and not a currency, and thus subject to capital gains…

Russia’s Central Depository to Launch Security Token Blockchain Next Month
Crypto News
25 views
Crypto News
25 views

Russia’s Central Depository to Launch Security Token Blockchain Next Month

btcethereumadmin - May 22, 2019

Russia’s National Settlement Depository (NSD) plans to launch its long-awaited digital asset ledger next month – 5,000 kilometers away from…

Crypto Lending Startup BlockFi Slashing Interest Rates on Ether Deposits
Bitcoin
32 views
Bitcoin
32 views

Crypto Lending Startup BlockFi Slashing Interest Rates on Ether Deposits

btcethereumadmin - May 22, 2019

Cryptocurrency lending startup BlockFi is almost halving the interest rates it offers on ether (ETH) deposits, while some bitcoin (BTC)…

Leave a Comment

Your email address will not be published.