The term “HODL” was coined when “hold” was misspelled. As a result, Bitcoin prices plunged by nearly 39% in December 2013 after a year-long bull run. “I AM HODLING,” a trader with the nickname GameKyuubi wrote on the Bitcointalk site on December 18, 2013, referring to his determination to keep his Bitcoin from that point forward merely.

Since then, HODL has become a market term for people who want to keep their money. This word is widely used by crypto investors who refuse to sell their coins regardless of whether the price rises or falls. It is most commonly used during a bear market when people refuse to sell their coins despite the price reduction. These are for traders who cannot scalp or swing trade and must maintain assets despite market lulls. As a result, they prefer to sit on their cache during times of scarcity.

HODL was eventually repurposed as an abbreviation (backronym) for “Hold On for Dear Life,” which alludes to not selling despite high market volatility and poor performance. Later, the words HODL and BUILD were combined to become BUIDL, a call to action to disseminate and build the crypto network.

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