The term “hodl” is popular in crypto contexts. It was originally added as a misspelling of the English word “hold”, but has later been transformed into an abbreviation of the phrase “hold on for dear life”. The term means a strategy where you as an investor never sell your cryptocurrencies – even if the price should rise or fall.
A new survey shows that a majority of crypto investors plan to follow this strategy in the event of a major price decline, Coindesk reports.
Quarter predicts price of $ 110,000
The investment bank Deutsche Bank has asked a number of questions related to cryptocurrencies to 3,250 people.
One of the questions is whether to sell your cryptocurrencies if they lost 80 percent in value. Of the 680 respondents who state that they own cryptocurrencies, more than half answer that they would not sell off their holdings in this scenario.
The survey also shows that 65 percent of those surveyed who own cryptocurrencies made their first investment in the past year.
A quarter of those surveyed believe that the Bitcoin price will exceed $ 110,000 at some point in the next five years, writes Coindesk.