BREAKDOWN: 6 Good Reasons for Bitcoin HODLers to Stay Calm
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 12 March 2020
⏱️ 16 minutes
🧾️ Download transcript
Summary
The Coronavirus got really extra real today for markets. A two and a half week selloff was tipped to the next level by a major ratcheting up of action from the US government (which still seemed clearly to be not enough to calm markets).
In bitcoin, this meant a drop from around $8000 yesterday to under $6000 today - a head-spinning dump, especially for those who are more recent to crypto.
Still, in this episode, @NLW argues that there are 7 good reasons to keep calm and HODL on:
- It’s not just bitcoin
- Correlation means infiltration
- Peak fear
- Asia on the upswing
- Buy order behavior
- Bitcoin’s been dead before
- And a bonus: this environment is exactly what bitcoin was built for
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome back to The Breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond, with your host, NLW. |
| 0:15.0 | The Breakdown is distributed by CoinDesk. |
| 0:20.0 | Welcome back to The Breakdown. |
| 0:22.4 | It is Thursday, March 12th, and life comes at you fast. |
| 0:27.9 | Just a few days ago, we had President Trump on Twitter telling us that this was no worse. |
| 0:32.5 | In fact, it seemed based on the numbers much better than the flu to him. |
| 0:36.2 | A couple days later, last night, he came to |
| 0:39.2 | TV to make a national address saying that he was banning all flights from Europe, that there |
| 0:44.9 | would be more than $50 billion of aid to small businesses, and a variety of other economic |
| 0:50.4 | measures to address the fallout of this coronavirus. |
| 0:59.9 | The markets have reacted, as you might expect, as absolute and total panic sets in, |
| 1:08.3 | with stocks falling as much as 9% on the day, and Bitcoin cratering from as much as 8,000 yesterday down under 6,000 today. |
| 1:14.9 | Indeed, it is a scary time to be a hodler. |
| 1:20.1 | It's a scary time to be anyone, let's be clear, but it's a scary time to see this thing, |
| 1:26.2 | which we weren't sure how it was going to perform in a financial crisis, lose as much as 30% of its value in less than 24 hours. |
| 1:29.5 | So what are we supposed to make of this? Well, as is clear to anyone who's listened to the |
| 1:33.3 | breakdown over the last couple of weeks, I do believe that things are going to get worse before |
| 1:37.6 | they get better. However, I also believe that there are a number of reasons that should help |
| 1:43.0 | keep Bitcoin huddlers calm and that there are reasons number of reasons that should help keep Bitcoin huddlers calm, and that |
| 1:45.8 | there are reasons to not despair. |
| 1:49.0 | So today on the breakdown, I'm going to go through six reasons that Bitcoin hoddlers should |
| 1:53.3 | stay calm. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from CoinDesk, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of CoinDesk and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.