Last week, we saw Bitcoin crash to below $11,000. This coincided with dips in Ethereum, Litecoin, Bitcoin Cash and various alt-coins. It recovered quickly, and those who bought the dip saw a nice return, as did those who sold off certain alt-coins to pick up more Bitcoin. Those who held onto their Bitcoin preserved most of its value, and many who sold on the way down saw major losses. The first rule of Bitcoin trading is HODL (“Hold On for Dear Life”). That rule proved effective during the last crash, but what should you do on the next one? Sources say that Bitcoin will crash again, tomorrow, on Christmas Day 2017. Will it happen, and if so, will HODL still apply?
What Happens if There’s a Crypto Crash
First and foremost, don’t panic. We’ve seen BTC crash several times since it went live, and it’s always recovered, eventually, at higher levels than ever before. Is the “Bitcoin Bubble” finally going to burst? A few memorable moments with BTC over the years may provide the answer:
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