The price of bitcoin (BTC) may be up slightly Wednesday, but that hasnât exactly raised the spirits of the assetâs most avid investors.
Rather, with the market now down roughly 70 percent from 2017âs 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, itâs time to put on some gloves for another âcrypto winter.â
Put more simply, investors now think theyâll face a long period where the market might be unable to attract new investment. Adding to the reasoning? Itâs happened before.
The cryptocurrency once dropped by 70 percent in a seven-month time period from June 2014 to January 2015 â the longest bear market time period in crypto. At the time, many people panicked and sold.
Except this time, bitcoinâs 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 âthings I did during the 14/15 bear marketâ is trending on social media right now.
It all started from Twitter user @PhilCrypto77âs tweet yesterday.
And then @WhalePanda followed:
Soon, it was over all Twitter.
Some of the posts were pretty serious and inspiring:
Others took a more delightful and entertaining tone:
Still, itâs 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
