When you study historical cryptocurrency prices it turned out to be a very good store of value because prices has gone up substantially. Crypto is actually one of the best investments you could make in the last decade. But it's also very volatile, so timing is key. But that's true for most financial assets because financial markets are never at an equilibrium, cryptocurrencies are always over or undervalued.
One of the problems is that they are hard to value. I hear people sometimes say that technical analysis doesn't work on cryptocurrency markets but i think it's the opposite, fa doesn't work that well. In a way that they are very hard to value. While most technical analysis still applies to them, you can use it on most charts.
By Wikipedia definition, A store of value is the function of an asset that can be saved, retrieved and exchanged at a later time, and be predictably useful when retrieved. More generally, a store of value is anything that retains purchasing power into the future.
In the crypto sphere, store of value can be harnessed by HODLing a digital asset.
According to Forbes.com, HODling was created in 2013 in a Bitcoin chat forum by an investor who was watching Bitcoin's price fall sharply but decided not to sell. He wrote a post titled, “I am HODLing,” meaning to write “HOLDing.”
We therefore add here the HODLing a digital asset is trying to attach a better value to it as per the future. When we HODL our cryptos, we simply believe in its future that the price will someday rise in the market, thereby giving it a better purchasing power.
Like our #steem, @Nathanmars7 is leading a campaign on twitter for Steem users to hodl their coins till the prize reaches $777. The concept of Store of Value is what every crypto dealers hould understand. Most endearing is the launch of our steem-tokens via the @steem-engine platform, users need to be aware that though the tokens of which most received are free have value in piece-meals, there will come a time when they will grow beyond imaginations.
Image source - https://pixabay.com/photos/money-coin-investment-business-2724241/
This is answer to a Question on @Musing