How to withstand it and get ready for the next summer?
Everyone who has been in Bitcoin for some years already, especially those who have been lurking around for more than four, knows that this market moves in four years cycles, that we bitcoiners usually divide into seasons reflecting the weather conditions of a calendar year.
Each Bitcoin season takes approximately a year. The first year of four is the fall, then comes the winter, the spring, and finally, the summer year, representing the bull market at full throttle.
At this point, we are going through one of the most challenging Bitcoin winters of all time, and, same as with the weather, we need to wrap up warm, not to lose the temperature, which in our metaphor, means not losing our BTC. There are several ways to “stay warm” during this period. One of those is to keep buying those coins we use along the way or try not to spend them at these prices, a challenging task if you are somehow fully bitcoinazed.
For that reason, we at Hodl Hodl offer a couple of tools to help you get through the harsh winter without losing your BTC. On the one hand, our trading platform can help you recover those BTC that you had to sell to face difficult times, and you can do it without exposing your private information or your identity. Using our trading platform, you can re-buy BTC without undergoing any verification procedures.
On the other hand, you can use Lend by Hodl Hodl, our P2P lending platform, to borrow some liquidity (stablecoins) from other users without any credit score requirements and, again, no need to provide private data. You only have to lock your BTC in a multi-signature escrow wallet as a repayment warranty for your peer, and you always control your key to the escrow wallet. Unlike other centralized lending platforms, the BTC that you lock in escrow can not be re-hypothecated or used in any way because they are held in plain sight in a multisig address in the Bitcoin blockchain. Using any blockchain explorer, you can verify that your BTC are there where you sent them, and it will remain there during the whole period of the lending contract. You can repay the loan at any time or in several installments, as you prefer. When the contract arrives at maturity, and you have repaid the loan and the interests, you’ll be able to refund your BTC from escrow in whole, or you can also decide to repay part or full amount from the BTC that you left locked as a warranty.
By taking advantage of these Hodl Hodl tools, you can not only resist the cold Bitcoin winter but also get ready for what follows. When the next hot summer comes (Bitcoin bull marker), you can also use our platforms to prepare for the following winter, which, you can be sure, will come again.
When Bitcoin price is at its peak, begin preparing for the next circle by selling a part of your BTC stack on our trading platform in exchange for stablecoins that can be used to earn interest on our lending platform during the next BTC bear market, or what we call it, the Bitcoin winter.
In any case, it’s important to remember that a full cycle can take approximately 4 years, so you’d better develop what is known as “low-time preference.” Be patient, hold your breath, and put your aim in the future.
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