Bitcoin Forum

Hello Community! What’s going on? Hope you guys are safe & staying home! Basically, I live in New York (I’m an expatriate indeed) & you guys know the current situation!! We are suffering badly, although I’m not scared of! Last night I sold my loving 0.67 BTC, since I need cash money!
I believe, in near future when the situation will be normal, I’ll buy it again since I have no doubt on the future of BTC & its use case! Please guys, stay home stay safe & don't forget to pray for us.

If you were in dire need of cash, I guess you are excused.
Personally I wouldn't advice anyone to cash out now though. I would especially advice not to panic and not to sell after a 40-50% dip. It is not different this time.The fundamentals have not changed and Bitcoin is still working exactly as it was supposed to.
Hopefully you will be able to recover financially soon and buy again without having missed out a lot.

Prayers might help raise morale, but mostly it is our actions that will help us overcome this obstacle.
Everyone must do their part to flatten the curve and allow our health system deal with this problem with ease.

Ok we understand your situation, indeed New York has been turning out to be the next ground zero.

I think you are not alone though, specially the panic that we have seen lately causing lots of investors to really cash it out because of the scare. Stay safe!

@Dildo Shwaggins - yeah, the fundamentals might not have change, but we haven't seen this kind of pandemic, BTC was born out of recession, this is a big test for crypto holders.

In times like this, you need to think twice or thrice to decide which will make you benefit and at this time selling Bitcoin for money is your choice.

I know the situation of New York right now since it is the state with the most number of cases in U.S. Just take care of yourself and your family there including your relatives. We hope that the situation there and all over the world will be ok as soon as possible. Selling your BTC right now isn't a bad idea since you've badly needed cash right now.

After this pandemic, you will have the opportunity to buy it again so no worries :).

Makes you wonder if the bigger lenders on the board could make a decent business of lending fiat against peoples BTC.
Yes, it seems kind of heartless to make a profit off of this, but if you knew that your could have used your BTC as collateral against a loan at a low interest rate would you have done it?

Probably a bunch of banking regulations that you would have to work around (if you care) but as P2P it's probably also not that big a deal.

I don't have enough liquid cash to do it, but it might we worth a discussion between those who do.

-Dave

It's understandable since we're facing a difficult situation, people doesn't have any option but to sell their bitcoin to provide what they need during the community quarantine. A lot of people are suffering and struggling because they don't have any source of income to provide their basic needs. Besides, it's for your own good and there's still a chance to get it back. Anyway, stay safe and obey the rules of the authorities to secure your health.

You know that you have a choice to either HODL or SELL it right? If that is the case, it would always be the priority that you should be doing. If you needed to stay alive using money/fiat, convert your assets. In this case, your Bitcoin.

I hope everyone gets to get through this with the right decisions in life and help others when you have the capacity to help too.

Why not take Loans instead?i mean other option than selling your LOVING BTC as you have said because there are Help from each government for the affected of this pandemic?

but if you have no other option then you are free to do such because this is your Bitcoin and you have saved them for crisis like this to be your last resort.

Stay safe mate and yeah we can accumulate again when the market stabilized in future but for now?we need to fill our stomach .

Not sure if I would suggest taking loans in this situation. We have no idea how long this pandemic will go. What if it stayed for like half a year? The loan would have then accrued a good amount of interest. I believe OP has taken the right decision here. It's not like there will not be another opportunity to invest in bitcoin, there's a lot of time for that once things settle down.

Sad that you had to sell all the BTC that you own but these are tough times for everybody. Hopefully you can afford to buy back at some point because the next big rise will come next year.

No one here can advise you to hold it based on your current situation. Especially you are living on one of the highest expensive cost of living. Expatriate really taking the hit. If you are an expat, I assume the company can lend you money or at least advance your salary or give any financial assistance. My friends working overseas too but the company understand the current situation, and extend their hand to tighten up the budget for their employees necessity.

I am really hope that all affected can still hold while they can cause its not really advisable to sell at the moment. But due to this f***** virus everyone has been opressed to do so. Anyway, its done. Stay safe mate.

I'm also seeking a loan right now, better stand on the bankers' side and mimic what they are doing right now, since they will always benefit from any crisis: When in crisis, average people selling assets for cash, and banks borrow cash from FED to buy assets cheap, and in boom time they sold assets back to average people and profit,  over and over

The only problem is that banks will not give out loan easily during crisis time, only themselves, so you need some government policy to ensure it happens

Indeed, with the conditions that currently require some inventory to undergo lockdown, it is very difficult for us to be able to survive to make investments, but that is why we invest as a reserve fund when we are in need.

Hopefully we can all face the hardships of life that we are currently living and soon the COVID-19 virus epidemic is over.

Sure, I certainly wouldn't criticize someone for selling bitcoin to free up some cash if they really need it.  However, it seems like OP invested in bitcoin when he should have had a cash reserve for emergencies--this is exactly what sets up selling like this.  People buy bitcoin with money that they can't afford to lose and might need in a relatively short period of time.

I'm actually in a similar situation right now, but I'm only letting go of a small amount of btc and it's not because I absolutely need the money to live.  I'm trying to buy that damn e-bike, and I've pretty much given up on the hope that I'll find a bicycle retailer who'd accept bitcoin.  Anyway, good luck to OP.

ouch! sorry, the pangs of life had to squeeze your hands to let go of such a GEM but then again, man must feed and take care of his family too. That's the right decision you took @OP because i know New York is one the states with over half of the COVID 19 cases reported from the US. Things are going to get tough over there but I hope our scientists come with a remedy to curb this disease.

Oh, that is a little bit sad parting from those loving BTC! Well, what can I say? Times are getting hard for now, for all of us almost all over the world. But this is definitely temporary. As soon as this pandemic is gone, we will be back with a much intense appreciation of this life and the world and the little moments within. Those BTC will be back on you very soon. Stay healthy and keep yourself safe!

The cash is badly needed this time of crisis so good to stay alive then having the BTC while your suffering. Think of today and what will happen to you today before thinking of what would happen to you in the next months or years. Good decision, who knows that price could go below $4k soon and you could buy back after the deadly crisis.

Are you sure that situation is so terrible that you need cash? Maybe crypto card will be better solutions?

People usually don't need 4000$ in one shot. Maybe OP did need that much, I don't know.
Normally if you have to sell this low, it could be better to sell only the smaller amounts you need for a couple of  days/weeks.
I don't want to judge, I just try to give ideas. Of course, if Bitcoin will go lower, it was a good move. So everyone has to decide for himself after all.

Needs are most important what else when conditions like this we are at home continue to certainly require costs and money for other needs by selling your btc at current prices I think that's enough and someday will definitely come back to buy more.
Well, it's good that you believe in the full future of bitcoin because bitcoin will continue to be on top when it recovers from this pandemic.
But right now I am not insistent on finances so I will continue to hold bitcoin until I recover to ensure future prices.

What to say? Ideally I would have asked you to wait for a bit longer, but I am also getting skeptical now. Global economy is inching towards the deathbed and within a few days the number of COVID 19 infected will cross the one million mark. The total death toll is now more than 32,000. Here in India, we are under a strict lockdown and it will continue till April 14th. A lot of people have lost their jobs and there is a gloom in general. I would say one thing at this point. This is even worse than the recession that we had in 2008-09.

Heard you man, just stay safe.

While I see some people who want to be safe and be prepared, I saw some who doesn't mind the situation they are in
https://twitter.com/keeltyc/status/1243650632692662272

If you don't want to get infected, stay at home.

Crypto debit cards might be good, but afaik, every atm withdrawal is charged, so it will be an issue here.

I also experienced the same thing where some bitcoin that I got was forced to sell for the needs of the lockdown that is currently running in my country, but indeed this is also one way to be able to survive with the plague that is still spreading.

But from the positive side, although the COVID-19 outbreak continues to spread, the price of bitcoin itself is still quite stable.

From here at least we can know very well that bitcoin is very powerful to be dropped.

Be safe bro. It is sad to see people getting sick day by day from this outbreak and with the current cases being recorded in United State, there is no way someone will not be fearful of what the future holds for him. I am very sure you find it difficult to sell all your coin but I think you make the brave decision. It is when you are alive that you will be thinking of having money somewhere. I pray this virus to go soon

When one needs cash, it does not make sense not to sell BTC. I heard of Trump's $2 trillion package and that every adult will get $1k, but for now it's talks and people are dying. Stay strong and healthy, I hope you'll manage to buy BTC once again while the price is still low. It's good to hear that you believe in Bitcoin and are not selling in panic but rather out of need. I've made a post recently about selling some BTC as well because of the situation and needing money, so I totally get and support this decision of yours. Good luck!A few cases of people actually needing money and selling Bitcoin for this reason does not mean that it's why the majority is doing that.

I agree, that's the worst advise. So I guess OP has no option at this point but to sell off because he needs to buy some stuff in order to survived in this worst situation. The good thing is that the OP have sort of save or invest some money into it, so in cases like this, he can liquidate it as fast as he can, because he is an expat in a city wherein it is being hit hard by the pandemic.

Here is one good reason of the recent dump.
So I bet those who are asking why are now answered.

I do sold some too. I need the money but just enough to not sell everything.
I still trust in bitcoin.
Although, it might also be a rare opportunity to buy back at a lower price later on if I sell now.
I am just not sure if that will happen since after this there might be a large pump that will come.

I sold some of mine too, coz things are getting serious lately and I cannot keep myself to think that world is going to end,possibly so I need to take everything I have now. Bitcoin is somehow on crisis right now after it fell hard last month it seems to be longing on that place, at $6K range. What is good is that we are weighing everything like what we want and what we need, It is a valid reason to sell off your bitcoin since you're in a place where the pandemic is taking over, it's kinda good to know after all.
Well, there's no turning back after selling, but I don't see wrong with what did the OP do to his btc. He'll feel regret once he sees the bitcoin price soaring again that's for sure.

@OP, though your excuse to me looks genuine and the problem here is that, I can't assure you if you can be able to buy this same quantity of Bitcoin in the near future. We'll know that the pandemic has taken another tune, stay safe is the utmost at this period of times. Life is wealth and for us to have life we must be ready to use our resources. God help us all.

For now you should be taking everything in order to make sure that you'll be able to survive this virus, staying at home and assure you and your family have reserves and enough foods to eat while staying together. Think about investment after this, you always have that opportunities doing the right thing in surviving, your life is far important than anything so it's good to choose it for now.

Sad to hear that you have to sell your bitcoin now while we are still in a big dip. I have not sold mine yet but I am thinking about it. I still have cash savings to use but if this crisis goes longer, I think I have to sell mine too.

Anyway, there will still be opportunities to earn and buy more in the future. For now, let's all stay safe and do everything to survive.

That's okay, you don't need to explain to others your decisions, only you know the tribes and tribulations of your own personal finance. I myself have 0.5 btc and had 0.34 before the crash, but I'm in a confortable spot FIAT wise that has let me buy this dip (bought at $4.7k), the point is that with btc you're free to do whatever you want, it's the truest form of free money. I hope in the future you'll get back, but for now you have a responsibility with your family and that's respectable.

Well sad to see that you have not bought it yet but I do not think when the BTC price is around $6k, you will have this in mind to sell them now for the bike. OPs case is different since he needs money for living expense and I think this is where bitcoins are useful for all of us.

Image those people who has only bitcoins but no other fiats. They will have to sell some of their holding for living expense now since there are crisis everywhere.

A person living in NY, in need of cash during this uncertain times, sold off his bitcoin savings - what is the statement you are trying to establish?

It is something that you need to announce? Or is there some "read between the lines" as well?

This is perfectly normal. Unless the world completely accepts BTC as a method of payment, anyone in need of cash will consider selling BTC at hand. I don't think this has a solution. Naturally, people will have to use cash to meet their needs.
There is no need to be worry, when you will be ready you can buy BTC again.

I have sold my stash at an earlier date than yours since I also needed the cash. I have no work since the laboratory that I'm working on is closed until further noticed and I'm well-compensated for the next 2 months or so, but I still have some relatives to feed so selling my coins back in 3rd week of February seemed to really be the best decision. I am tempted to buy when the prices dip, though it seems to be staying @ $6000 at the moment. For now, everyone should worry about staying safe and not contracting the disease. Even though the mortality rate is low, no one should take chances out in the open.

Stay home and stay safe to everyone. Our lives are more important than our coins so if the need for selling arise, don't hesitate and just do it.

I know that feeling about selling for a need. If you need the cash then you do it right. But the prize is low my friend, maybe you should hold at least one week before the halving.

But under a crisis the cash talks. Stay safe my friend.

A smart investor is buying cheap coins right now, the opposite is selling at a loss (most likely)  :-X You have your investments on one side and you have your savings on the other, the latter is exactly what you'll use in case of an emergency.

If you find yourself in a situation where you have to sell almost 0.7 BTC ($4k!!), then you either have a family emergency or somewhere along the line you made a bad call (you probably invested money you couldn't afford to lose?). I'm going with the latter since someone with an emergency wouldn't be here telling us about it.

Nevertheless, best of luck, OP, stay safe.

right move to sell when you need cash to live in corona crisis we don't know how long this virus stay with humanity maybe 6month or 1 year.

BTC price not stable now if everyone need to bring cash more price going down and down

stay healthy and stay alive everyone!

If really you would want to buy it again, be aware that BTC could moon at anytime (so you don't end up buying at a price way more higher than you sold. It hurts :-X :-X)
And also, I pray you don't fall a victim of contracting Covid-19. This prayer applies to every member in this bitcointalk forum; we really don't want to lose anyone.

Maybe he needed a car to move somewhere safe? I'm clueless.

I'd also think twice before selling as low as we are now. Of course if you need the money you should sell but I'd divide it into small parts to satisfy my basic needs and not cash out too much.

You are much safer holding some cash and some BTC than being all cash.

Keep safe in New York mate, selling of bitcoin as of now is not a good idea because it is not that too high compared before but we cannot blame you for selling your 0.67 BTC because of the current situation in your country. There are also many investors that pull out their money and converted it into fiat currency to have money to sustain their lives while having crisis. There are also many hodlers that also sell their money because of this also. This COVID-19 really affects so much people, real life and even in the virtual world.

If you still have money on your own (the fiat currency), try to keep your bitcoin on your e-wallet because this is not the right time for selling it, let us wait for bitcoin pumping.

All my prayers are for all those who suffer from Covid19. God allow us to get rid of him soon. Please keep the protocol to be safe. The important thing right now is global health. BTCitcoin is powerful and immune! You can keep buying it and treasure it again. God take care of the great nation of the USA.

Wise decision. Health is always wealth.
See, this is just one of the reason why Bitcoin is somehow affected by the health crisis that we're currently facing (some folks thinks covid-19 cannot affect cryptocurrency).
Simply because, people would always choose fiat currency over any other form of investment to survive the lockdown. People would gather enough food, medicine, and other necessary stuff to keep you and your family safe at all times, thus fiat money can easily access all the products in the market.
Btw, keep safe man!

GOOD CHOICE  !!!!!

You will be glad you got out at above 6000 when you see the price of BitCoin crash again as the Financial Crisis continues.  BitCoin is below 6000 now.   When BitCoin drops to 3000, make sure you come back here and tell us you are glad you sold and got what money you had left instead of losing even more of your savings....

Hard Facts

The good thing is that we can have opportunity again to buy when price drops again in the future. So don't regret it, continue having an optimistic mind. If this crisis needs us to sell our bitcoin to keep us from living and to maintain our good health, then don't regret your actions. And you are not the only one who sold their coins even at deficit price. I do hope we can overcome this crisis and live a normal life.

That is why the price of bitcoin is either slowly rising, or again falling below six thousand dollars. Now the CoinMarketCap table shows the price of bitcoin at $ 5,987. And it’s not a panic, as many people think, but the fact that people simply don’t have anything to eat for quarantine in this situation. Someone is forced to sell their cryptocurrency at these low prices, and who has free money has the opportunity to buy it. The situation is still difficult. We do not know when the coronavirus will recede, although the virus weakens.

He explains the context, didn't he? He isn't selling just for the sake of money but because he needs cash and it's urgent.

---

Determining when to buy and when to sell is always challenging. Buying at a higher price is not necessarily bad IF you can still get profits later on. Which is why it's said to only invest the money you can afford to lose. Best wishes for OP.

That's how you do it, Good job OP. because we sold our bitcoin it's not necessary to mean we gave up on cryptocurrency, we are just scaling things and decide to sold it for our own good. after this pandemic is done, we will buy again with our monthly earnings and start again. right now is not the right time to hold, at least for some of us who are in need of cash to buy some stock because our local government it's not nice as the other country has. Our president is good and caring but the leaders in our villages are corrupt. that's why if we don't sell our crypto assets we will die on hunger.

I think you just do what you need to do and at this time of survival that is why we are investing not justs for profit also we could have funds or money that we could use in terms of emergency.

In my opinion, what you did is just necessary and I think I would probably do the same if I'm in your position also at this rate we are experiencing a pandemic virus that could potentially kill us all.

Also selling your investment might not have a bad effect on the market at all the dump in the market is always a part of bitcoin and this dump could be a great opportunity for the investors to reinvest again.

0.67 BTC is less than 4200 USD.How long will you survive with such money in a city like New York?
One month I guess.This pandemic is just starting in the US and New York is the epicenter of it.
The lockdowns in New York will continue until June and this is the optimistic case scenario.
I hope that all the people in New York will stay at their homes and follow the rules of the quarantine.
Stay safe now,Bitcoin will become important later.

Yes because of the situation so many holders have sold some of their crypto we are all praying for the situation to be back to normal again soon.
Prevention is better than cure so we must do what we can in order to be safe.
Try to avoid crowded place and stay at home as much as you can.

Keep safe Faysal. It's your money and that's why we're holding it so that we can use it for something important and situations like this.

You're definitely right, you can always buy it at any price as long as you'll use it for your needs. Maybe this is your whole savings and you have put it in bitcoin and you are in an understandable situation, no matter what, keep safe all folks there.

No matter how we support Bitcoin and promises to HODL for eternity time will come that we will be needing to make decisions like this and i Support you for saving your family and life in this Cruel time from the Pandemic.
and Besides we can still Buy another set when the problem is over because Bitcoin will always be here for us and so we are for Bitcoin as well.

Also if i were in your position nothing that i can do but to sell,though i will try to ask or borrow from family or friends since Volatility may bring Good amount in another days .

the condition is currently quite bad. out there, people need cash for their needs, moreover, lockdowns that trigger panic buying. Well, that's a normal thing, it's just that, until now, I tried not to sell anything from my assets. if I sell it, I might be able to collect it again, but I don't want to miss the train that is leaving soon. stay safe buddy.

Many people focus only in what they need by this time. So selling your asset is the best option you can do if ever that lockdown will take much longer then you need more money to use for your needs.

There is many other time that you can accumulate the asset that you sold today the most important thing by now is to survive this situation even we need to use all our assets.

I hope you and your family are in good health, I think there is nothing we can do about the current situation.  Almost every places in the world are in lockdown and for the like of us that is not that rich, even though we don't want to sell anything, we will be forced to rather than let our family die in hunger.  I hope the current crisis will be solved soon.  Let us pray that our scientists and medical people find a cure to this pandemic.

nowdays corona does not only have an impact on health side but also affects on the psychological condition of people especially in country who affect the corona virus.. The next serious problem is unstable global economy many country choose to restricted their people activities
I think you already do a good thing .. when the corona has subsided and people are allowed to leave the house .. that's when you have to buy assets back  ;D


#Stayathome

Though knowing that it is not the right time to sell our assets the fact that market is now facing a recession not only in crypto community but in the global market as well, we should still know our limitation. What I mean is that, if you need a money that badly then don't hesitate to spend it or convert few some coz I know what it feels like. Currently, my country is under lockdown, all jobs were terminated, no is allowed to go outside and this means no income so if I've been in your position then I could have also sell some of my earnings.

As for me I believe in future of Bitcoin and think that if future the price of Bitcoin will grow. But if you have no money at all you have to sell Bitcoin. As for me I sell my Bitcoin too because the economical situation in the world is very difficult, but I hope that in future the economical situation will stabelize and I again will buy Bitcoin, because I belive in Bitcoin and I believe that in the future the price of Bitcoin will only grow.

Thanks for the concern! Well some of us really need to sell  since other countries are currently kn a lockdown and we are oblige to stay at our home. Of course, when this pandemic ends, I think everything will be okay and the prices of bitcoin and other coin will soon to rise and all of us will continue the normal things in everyday life. Take care always!

Yes! Only sell bitcoin when you need it! In this crisis we need money so it's just normal to sell some of our investment considering that it's needed to survive. In long term, bitcoin will pump because we all know that bitcoin is in continuous growth since it has a limited supply, what we need now is to survive because money is nothing when we are dead from the virus. Stay safe everyone!

That is the reason why markets start dropping when there is pandemic start spreading all over the world. It really causes a damage to all stock in the market even traditional stocks and crypto market stock are also been affected. I understand people pulling their valuable assets and turn it into cash to buy food, toilet paper, and disinfectant to fight pandemic COVID-19 during a lockdown that nobody can go outside because they are afraid of. I completely understand what OP's sentiment and we are all praying at this time and help ourselves self to safe while we are staying at home.

Keep stay at home mate, I hope the situation can back normaly. The economic situation is bad indeed, and there are many people who sold their asset/investment to comfort to money fiat because they money to buy some basic need. Maybe this is happened to you, you were tried to sold your bitcoin because you need to buy the basic need. And I think if you have saving money maybe you don't need to sold your bitcoin at now, bitcoin price is still in the good trend. As we can see now the price movement still show that its price will going up and yesterday we have seen its price was increasing for more than 5% that I think that is impossible if we the current sitution but bitcoin has done it.

It's probably a hard decision you made,

Selling at the deep because you needed cash, if it was me, I will do the same. Since the world is facing an epidemic, it is best to assume that having enough cash in our pockets is the best decision for now than holding bitcoin, because we don't know until when this virus will last.

This is a completely justifiable reason why you sold your bitcoins. And since you are an emigrant, you probably have problems with work, so you did it right. All I can wish for is the most important thing - health, not to lose heart and take care of your relatives and friends. After the crisis, you can return back to the cryptocurrency industry

You did a good job comrade, for you standing up tall for yourself in this trying times looks great for me. I applaud your courage for taken such bold step, and buying back in the future seem nice for me and when you stand up again in the future. I would have taken such actions like you but in my own country, we'll are still being lockdown here with an extension from the government on covid-19. You definitely took your action on a justifiable platform which I know as an acceptable way to survive in this pandemic.

I am from India and here the lock down was imposed on the initial days of the spread of the Corona virus disease and here although people are also in discomfort but they are thanking the government for taking such drastic measures pretty quickly to control the spread of the disease. Whereas it's a shake on the Trump administration that they aren't taking any bold move to control the spread of the disease.

Don't worry it is the same every where, not everyone has enough money so that they can afford to hold for the period of time when the world is going through a pandemic.
Even i sold all my Bitcoins at the same time , whatever I get weekly from the campaigns goes straight to buy the groceries , because everyone knows how the situation is right now .
The first and foremost , the most important thing is being healthy and surviving therefore you don't need to worry about anything.
You can always earn back the money

I didn't get it why you (OP) are telling about selling your btc story. I mean what is the point..? It's an asset and it's yours, you can sell it whenever you want, specially tough situation like this. People need fiat money for buying goods and other survival thing for living. So it's totally a normal fact if you sell your asset for your need. And of course you can buy btc when situation will be normal. It's not going anywhere. :D

No problem friends, we really have to prioritize more important things. The decision to sell, hold, and buy, is entirely in your hands, especially for emergencies, the most important thing right now is that you and your family's needs can be fulfilled during this pandemic. I am sure there will be another opportunity where you can fill your bag again with BTC. Stay safe and healthy.

Washing machine scarse land indeed :D
There are places in world that this is not considered luxury at all. New York tho, kitchens are scarse too i heard. That will be hardest to endure during quarantine.
Hope you will get your BTC back, hope you will be well. Good luck and stay safe inside.

That's sad, there are other ways to earn money for example upwork or freelancer.com and other online or remote based work. Im sure you could try your luck there, there's also possibility that Bitcoin might moon if these crisis goes on. But anyways best of luck to you and stay safe.

Actually selling btc at this moment is not a good idea because until now the bitcoin is still low but based on what we are facing now, the crisi is in our land and we need to have stocks on our home, such as foods, personal hygiene, etc. that we will need while having community quarantine, but for those who have extra money, do not sell your bitcoin, just hold it an wait for the bull run to happen so your money will make profit.

You just made a good decision because the market price of the bitcoin is falling down and you need to have an emergency and you need to sell your bitcoin because if you hold your bitcoin you cannot do anything with that because of the market price fall. Today you have now enough foods and other stuff you need you will now survive the pandemic outbreak and it is better to have fun with your family and do other productive things to avoid getting tired and also it is better to be kept safe so we won't get infected by this virus. It is better to sacrifice other things for a while you can earn back your bitcoin soon while the market is alright again.

Based in your current situation and the need of cash, you have done the right thing. I also believe in the near future we can all comeback to normal. There are no crisis that lasts forever, we just have to trust the community and the bitcoin. You can buy bitcoin again and then continue your investment but for the mean time , do what's right and hope we can all be safe during this crisis.

but I quite doubt the price will be lower, or under the price of $ 5000. but I think he sells the bitcoin he has in the $ 6k range, and that might be good enough. to be honest, the bitcoin he has is more than my assets, but if I were him, I would not sell all the assets that I have. Well, maybe a few percents is enough, and I might do it gradually.

Many are in your situation also especially in this time of pandemic and many countries are imposing lock down just to minimize the number of affected persons as this virus really spread pretty fast. We are also in lock down and I saw also that many of our country men are also selling their assets just to survive in this type of situation.

So I can see a bright future of bitcoin when this pandemic will be all over as many will surely bought back their assets then hold it until they will profit again the same to what you are planning.

That was expecting to happen during this time. In fact, we all suffer the widespread of the virus.
There is nothing to blame around and put others as a reason for the market decline instead, we are about to understand the situation and most of the people who sell their bitcoin it possibly similar to you OP. Yeah, this thing won't be last a very long time for sure and you still have a chance to buy back again if you already recovered.

Bitcoin is a store of value which exactly what you just did. You needed it and you need no one's permission to sell. You made your choice and I see no reason why you should tell anyone. There are other holders in your situation that has also made same decision. My advise for you is to spend wisely and stay safe.

There are many people who are selling their bitcoins due to this emergency situation which no one predicted. I am also planning to sell some of my saving in crypto, if the lockdown does not finish and I am unable to resume my work. The situation is really bad everywhere and no one has a solution for it.

You are probably lucky you didn't find that e-bike as you would have lost 20% profits.
Depending on the type of bicycle you've probably saved between $80-500


To the OP again:
The way I see it, you will rebuy 0.335BTC with the same amount of cash.

I understand the decision you made, by selling all the bitcoins that you have as much as 0.67 BTC. Because I followed
the news about the state of the city of new york in online media, with such a bad situation everyone will certainly sell
the assets they have. Including selling bitcoin for living expenses during lockdown, we all pray for each other so that
situation get better and hopefully this crisis is over soon.

I’m wondering how is OP doing? New York is expensive city. 0,67btc will be enough probably to pay the rent, bill and buy necessary simple food to be able to live for a month. What is planning to do or what should we advice him to do? I’ve read that the gov. was planning to give everyone a cheque for 1000$. This is will only be enough for food...

Yes, agreed, it is very bad time for whole world. The current situation of New-York city is much worse. You know that American economy has suffered a lot due to covid-19 issues. Worldwide around 69000 people have been died by infected with this epidemic. So, we should be careful and prepared, stay safe and obviously stay at home.

Can't blame you OP. This is a life and death situation. And surviving is our main priority here. Investing on Bitcoin and among others can wait.

We hope you are doing fine there in New York. And to everyone here, stay safe.

I'm sorry but if you really needed it in this terrible period you did the right thing, I hope that in the near future you can get back what you had to use in terms of cryptocurrencies, good luck :)

Selling your btc at a time like this is very unfavorable to you because the prices are lower, I can't blame you though, there is expenses at this times of crisis.

New york is the states in the US which has the highest numbers of persons who got infected with COVID 19. Right now there are currently 130,000 + people in this states that are suffering to the virus. The creator of this thread is also part of the people who having hard time because of the community lockdown. I think it is also a good idea that he sold his bitcoin because they need badly the cash especially today where their lives are in matter. I do not know why there are replies in this thread that saying that it is not a good idea because they say that the price is still cheap but it is not the matter, we are talking about lives after all.

In some situations, you have to sell a lot and immediately, no one can guarantee you that you can sell a little every day. Anything can intervene, you can get sick, even if it is not a coronavirus, then this is an additional cost, or some other significant situation.

i guess you did what you had to do in this current situation to survive, it must have been a hard decision for you but you must think of what is most important, the only sad part of this will be when you would want to buy back the 0.67 btc, by then the price must have been higher than when you sold, this crises has affected a lot of things especially peoples financial status, wishing best of luck to you and to the world during this trying times.

It is not surprising at times of such because people would more prioritize the things that they need the most. It is a normal thing to do during emergency, investments would be more likely set aside. And this I think is the reason why the market value fell down recently. Many people sold their holdings in order to be prepared for what is currently happening. There is now a shortage of daily needs, in some areas. If your government is not that effective, you will only have your savings. I was actually planning to invest but have hesitated since I need to buy some stuffs to be used during the quarantine period, and the money I used was supposedly for crypto investment. But it would be okay, I'll just go with the plans when things start to be positive in order to assure everything.
Indeed, your investment would be worthless if you would die due to sickness, to be practical. We cann all back with our investment routine once things become positive and I hope that day would come soon. Stay safe!

Today our goal is to survive the pandemic crisis first and by that selling your bitcoin for fiat currency or cash and buy a lot of things you need for the survival is a good decision because if you hold your bitcoin for a long time and you do not have enough money to buy a lot of things like foods or mask you cannot survive and then your bitcoin will waste too it is good to focus to our prioritize too in the world of the pandemic outbreak also if you have some time and the situation are okay again you can buy a lot of bitcoin as many as you want because there is nothing to harm your self too

Be it cash or BTC, best is what is required in current situation. OP needed a cash so he did the best to sold his btc. It is useless to prefer BTC/Cash or any other thing over our lives. There are many people selling there bitcoins because of current situation. Lets hope things get better with time and we continue our normal lives.

If you sold it because you needed urgent cash then its okay, otherwise i would strongly suggest everyone not to sell their Bitcoins especially not when its already down. You should always hold your investment in these times. I urge everyone not to pani. Sell their bitcoin or any crypto they might give you huge profit in near future

I wonder, will BTC price go down again or not? Okay, it's clear that we all can sell bitcoins (thanks God we have it in this difficult time) to buy some urgent stuff like masks, toilet paper, etc. But what is about investing? 7K+ in USD already... Looks like it's not the bottom. Then, what are your expectations regarding further flactuations of the price? How will BTC feel in crisis?

Bro I don't think you owe anyone any explanation why you sell your btc, you bought on your own and you decided when you would sell for cash and in this case you have a pressing need of which many people in the world are facing at the moment, you should be glad you have some btc to sell, many people don't  have anything like that and so they face hardship.

Yes, the virus is wreaking havoc on the economy. I feel very bad for many people who work in the industry and help make the product we use daily or at least often. Everything is just shut down. When I go to the shops and there are not many cars around it honestly makes me think of Apocolypse/armageddon or like there will be zombies are something since there so few people around. I often ask myself I wonder if this what it would be like if something even more serious happened. It is really scary. So I try just work and play games. I don't want to think of all the bad things the virus is bringing. I guess the OP had some reasons to sell so many bitcoin. They most likely had a debt to settle. The pressure of that and the fact of the virus caused them so sell probably.

The worst part is, fiat if handed in the form of cash only and not contactless payments, can also bring your home this epidemic virus. Try to avoid cash. Here in India, a miserable scenario happened where a family was living in an apartment and someone rang their doorbell at 1:30 a.m. Now, they decided not to open the door as there was a stranger standing outside, so they kept it shut. Afterwards, in the morning at around 8 o'clock, when they were getting out to throw the trash in the bin, they saw a INR 500 note waiting for them just outside their door. This is ridiculous because when checked via the thermal machinery, it was found that the cash note was infected and someone was trying to spread the infection.

Good plan, friend. Your decision is right, the choice to prioritize the necessities of life rather than investing in a pandemic. It's not panic, it's the right choice. Hopefully, you and your family are fine there, we all feel the misfortune, stay healthy.

Don't forget to be thankful we still have savings, reserve funds, so we can survive in this condition. Many of our brothers and sisters out there are unlucky so they have to keep working even though this virus is threatening everywhere. The lesson for all of us, do not forget to set aside funds for savings.

This is exactly my point. At this point, There's no need to blame anyone who sells their holdings in order to cater for themselves in this trying times. With most countries being on lockdown, a lot of people are not currently working, some have even lost their jobs. This means that most don't have income to live on  until the pandemic is over and it doesn't look like it's stopping anytime soon. It's a good thing OP had some savings in form of bitcoin. It has come in handy on a rainy day.

Well, the entire idea of investing in highly volatile assets like Bitcoin is that you should let the money sit for months or perhaps even years before taking it out.

If you can't afford to be without the money, then don't invest in highly speculative assets like Bitcoin. Although BTC has seen radical price movements in short periods of time, it has also seen long periods of decline which have rekt plenty of people who got in high and sold out low.

Let this be a lesson to anybody who thinks Bitcoin is a get rich quick scheme. It's not.

Left to me, you made the nice move. The world is in total crisis and to be able to survive it, you need to have spendable cash with you which cryptocurrency so far dosen't fits in, so i guess selling it for FIAT is the only feasible means. I read everyday new york is in total lockdown due to COVID19, i pray the whole world survives this and give the scientists the wisdom to come up with cure ASAP. Stay safe buddy when the world finally recover, you can then think about investments. Personally, i'm planning on selling off part of my portfolio too.

There are many investors whi have having a hard times during this crisis and we cannot really blame them if they let go their investments. There are now many investors who selling their bitcoins because they need cash in order to buy foods for them to not be hungry. There are many people who losses their jobs because of this crisis and it lead for some people to sell their bitcoins.

This is not the time to save all your crypto. In a dire time like this do not hesitate or regret on what you have done. This is an emergency case and we all know how bad the situation is out there. You can always recover your losses, but you cannot replace life so you did a wise decision for you and your family to survive. I hope all of you guys are doing fine.

Agree, man. There's no time on holding back for your necessities in times like this. Assets are nothing but a material, living must be on top of all your priorities or else you'll make your life worst. Beside, if we don't have anything left stocks, funds or etc... to start with then selling crypto assets in exchange for goods isn't a bad choice. And I highly believe as well that sooner everything would be settled for good, market and worldwide condition. Lastly, for short reminder keep safe ya'll.