"Hodlers" of bitcoin are stunned by its precipitous decline off its record high in December. No, that’s not a typo, "hodl" is a word in the bitcoin lexicon invented by an inebriated participant in a forum with a post titled, "I am hodling".That was back in 2013, when the volatile cryptocurrency was still on the rise. If he hedl on to bitcoin until mid-December 2017, he would have made a killing: the price rose from US$100 back then to nearly $20,000 in December.Bitcoin moved up from $930 in the one year leading up to that high. But, since the December peak, it has declined steeply to below $7,000 at the time of writing.So what’s going on?First, some perspective. Don’t shed any tears for long-term hodlers — the early adopters who got in before the big boom of late 2017.They are still very much in the money and probably will be for some time.If you must shed a tear, let it be for those who climbed the late 2017 hype wagon, which built as bitcoin turned in week after week of stellar ...
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