Convert or HODL?

[Savemore]

HODL. I'm down too and I know it will rebound. Not my first dip...
This full collapse of the stock market has only brought bitcoin down to $5k...
Think about how much bitcoin has withstood. This is yet another test that proves how good bitcoin is.

This is also not my first time to experience a big dump and I have to stat and trust the system in order for me not to loss big. Yes, bitcoin will recover and I know bitcoin will prove again to become the best online currency and that is a best reason to hold on it. Every market are collapsing and dumping, but in time it will recover and I’m sure bitcoin will become more big in the future.

But sometimes letting go is a good strategy in order to protect our capital. Before the price breakdown in its major resistance, I managed to let go it because I know that I will suffer more if I will continue to hold it. But it is just my pure opinion, we should know how to cut loss because it is part of risk management where it can develop discipline.

[1715168983]

1715168983

[1715168983]

1715168983

[1715168983]

1715168983

[1715168983]

1715168983

[1715168983]

1715168983

[Farma]

just a price increase, but again a decline. although it doesn't reach the price below $ 6k anymore, but the increase in price from $ 5800 to $ 6200 is a very good thing for now. I honestly think that this increase will not stop before reaching $ 7k, but it seems that the decline also occurred to cause the price of bitcoin to stabilize in the range of $ 6.2k. however, I prioritize holding back now, rather than selling the assets I have.

[bearexin]

Usdt has been a thing of beauty lately even tho I hate both bitfinex and tether company, I tried to change it to regular fiat meanwhile as well and got some of it, I rather be in fiat right now then crypto honestly and just watch. I wasn't thinking like this just a week ago, things have escalated like crazy and now it is looking very very dangerous so I am definitely not doing anything at all with crypto.

I will get back in, and I am just waiting but for now it is looking not so well so I am just going to convert and wait, and I know I have said the opposite for a long time and I know I have been a great bull all the time but today is a different day, today is a global epidemic (or pandemic or whatever) day and I doubt I can really keep this up honestly.

[Salamstar]

I fear that if I transfer my balance from bitcoin to digital dollar (USDT), I will not have a new opportunity to buy bitcoin from lower prices because I see that bitcoin is currently fluctuating in a narrow field and then either up or (by a small percentage) to the bottom. I currently prefer to HOLD bitcoin and I'm waiting for a good buy or sell signal.

[goinmerry]

I fear that if I transfer my balance from bitcoin to digital dollar (USDT), I will not have a new opportunity to buy bitcoin from lower prices because I see that bitcoin is currently fluctuating in a narrow field and then either up or (by a small percentage) to the bottom. I currently prefer to HOLD bitcoin and I'm waiting for a good buy or sell signal.

You can have some tests if you have guts to put some percentage on it on buying USDT. In that way, you will have a view on what will happen if you do that in the current situation. The always and the most recommendation you will see is to just hold bitcoin no matter what but you are free to test strategies if you think what's the best thing to do.

Converting or holding is really a tough question that everyone is facing whatever the trend is. But if you are not sure about what to do, then better hold to death and learn to accept anything that will happen.

[pixie85]

After recent dump is it still safe to hodl on to our existing bitcoin or convert it to USDT? I have just converted my bitcoin into USDT and I will be monitoring the market closely with multiple reminders to buy back when the value starts increasing so that I don't use my existing balance and eventually buyback more than I have right now? How many of you agree with my idea? Kindly share your suggestions.

Great idea, you made the right choice.

You've converted independent money that nobody can take from you (Bitcoin) into worthless fake USDt that isn't even backed 1:1 by USD but is trying to make people think that it is. You have effectively changed digital gold to an IOU and on top of that you did it after a major dump orchestrated by Bitmex and some other leveraged trading exchanges.

[Bezobraznike]

After recent dump is it still safe to hodl on to our existing bitcoin or convert it to USDT? I have just converted my bitcoin into USDT and I will be monitoring the market closely with multiple reminders to buy back when the value starts increasing so that I don't use my existing balance and eventually buyback more than I have right now? How many of you agree with my idea? Kindly share your suggestions.

Great idea, you made the right choice.

You've converted independent money that nobody can take from you (Bitcoin) into worthless fake USDt that isn't even backed 1:1 by USD but is trying to make people think that it is. You have effectively changed digital gold to an IOU and on top of that you did it after a major dump orchestrated by Bitmex and some other leveraged trading exchanges.

   Pixie85 you made a clear point here. Many people don't understand the true power of Bitcoin, and I must add some other
alt-coins. There is more behind crypto-currencies than just a dollar value, but many don't see that. They just think how much
dollars they can make.
   I didn't sell anything! My portfolio is down a lot, but I don't care, I think Bitcoin is the future. Some people make a difference
between centralized and decentralized systems, and with time there will be more of us who understand it!

[Smitty Werben Man Jensen]

I fear that if I transfer my balance from bitcoin to digital dollar (USDT), I will not have a new opportunity to buy bitcoin from lower prices because I see that bitcoin is currently fluctuating in a narrow field and then either up or (by a small percentage) to the bottom. I currently prefer to HOLD bitcoin and I'm waiting for a good buy or sell signal.

if you bought it at a low price of $ 3800 then you are right to hold it now, but if you buy it at $ 6800 you will definitely think that selling is better than holding it in, because right now the price of bitcoin is falling by $ 800, make sure your steps are right

[Findingnemo]

Converting your cryptos to USDT is highly risky so either convert it into fiat which is not really a bad idea when the whole world is facing recession since cash is king at these situations.Or better just HODL as bitcoin if you don't have any reason to spend it in this lockdown conditions.

[posi]

I fear that if I transfer my balance from bitcoin to digital dollar (USDT), I will not have a new opportunity to buy bitcoin from lower prices because I see that bitcoin is currently fluctuating in a narrow field and then either up or (by a small percentage) to the bottom. I currently prefer to HOLD bitcoin and I'm waiting for a good buy or sell signal.

if you bought it at a low price of $ 3800 then you are right to hold it now, but if you buy it at $ 6800 you will definitely think that selling is better than holding it in, because right now the price of bitcoin is falling by $ 800, make sure your steps are right

Bought at the $6800 price range and thinking of selling now  when the price downtrend to $6200 price range is totally unacceptable if there's no emergency case whereby ones need an urgent is not involved.because the capital is already closed for the weekend and the price of the market is expected to experience dump. Besides, the weekend of when the market is facing some kind of crisis are the best time to accumulate more coin.

[hulla]

Converting your cryptos to USDT is highly risky so either convert it into fiat which is not really a bad idea when the whole world is facing recession

Even during the time where the world is not facing recession, USDT is never a better option because it was backed with fiat currency and the better option is to use a stablecoin backed with previous metal which Digital Gold is the perfect example.

since cash is king at these situations.Or better just HODL as bitcoin if you don't have any reason to spend it in this lockdown conditions.

Cash/Fiat currency is never a king and if it were Satishi won't have implemented bitcoin. However, USDT and Cash are almost the samething buddy.
Meanwhile, fiat is totally one of the worse option to be use in this present situation which affected the global economic and every market settings. Besides, dollars and others currency are devaluing.

[Ridwan Fauzi]

Bought at the $6800 price range and thinking of selling now  when the price downtrend to $6200 price range is totally unacceptable if there's no emergency case whereby ones need an urgent is not involved.because the capital is already closed for the weekend and the price of the market is expected to experience dump. Besides, the weekend of when the market is facing some kind of crisis are the best time to accumulate more coin.

This is why I always try to suggest all people to not buy bitcoin using money loan. The risk that will be faced is two, first thing you need to pay for the loan and two every step you hold the coin you won't ever be comportable, you just have a burden to pay the loan instead of you have to get profit with using startegy that you have.

I myself have doing it long time ago, I force myself to dare to borrow money form the bank and I bought bitcoin as main place. But, just entery with the worng place because at that time crypto currency is in the bad market. It will be different if we use money that I can afford to lose, I will have a freedom to choose strategy that I want and I never strassed when I found a big crash, just holding it and I'll be fine.

[ololajulo]

Actually it is getting more boring for holders since 2017, this crisis and dump got it worse. Prediction in the market is very bad but I think if wuhan could open today like in the news and no case is seen in the community in the following day/week, confidence could come to the whole world that the pandemic can be controlled if right measures is engaged.

[Findingnemo]

since cash is king at these situations.Or better just HODL as bitcoin if you don't have any reason to spend it in this lockdown conditions.

Cash/Fiat currency is never a king and if it were Satishi won't have implemented bitcoin. However, USDT and Cash are almost the samething buddy.
Meanwhile, fiat is totally one of the worse option to be use in this present situation which affected the global economic and every market settings. Besides, dollars and others currency are devaluing.

But at the end of the day we are speculating the price of bitcoin not its potential, bitcoin also fell 30 - 40% due to this economic crash that is why cash remains king at this situation but its doesn't mean you should hold fiat cash forever because I know it is the stupidity at its worse.Just buy bitcoins or other assets using the same fiat when the prices hit the bottom by this we can get the benefits from this market crash.

[kro55]

Actually it is getting more boring for holders since 2017, this crisis and dump got it worse. Prediction in the market is very bad but I think if wuhan could open today like in the news and no case is seen in the community in the following day/week, confidence could come to the whole world that the pandemic can be controlled if right measures is engaged.

There's a big IF. Looks like some countries just don't give a damn (USA, Sweden, some other) and because of them the epidemic will last longer than it did in China. Big companies will go bankrupt and huge financial crisis will follow. Unless of course they produce vaccine or medication.

[DevilSlayer]

It is really depends on what type of objective that you have, if you are investor then hodl but if you are trader then manage to cut your losses. I converted my bitcoin to usd recently when it dumped, I'm not a investor so for me hodl is not a good strategy.  It really depends on what type of person are you, I have a plan right now where I will do swing trade but I still managing my plans as well as my risk and management.

[Free1bitco.in]

It is really depends on what type of objective that you have, if you are investor then hodl but if you are trader then manage to cut your losses. I converted my bitcoin to usd recently when it dumped, I'm not a investor so for me hodl is not a good strategy.  It really depends on what type of person are you, I have a plan right now where I will do swing trade but I still managing my plans as well as my risk and management.

I agree with this. however, it all depends on you. are you a trader, or an investor. if traders, then you need to take advantage of the situation, and this is more directed to convert. whereas if you make the decision to hold altcoin or bitcoin, you are an investor. Well, in this case, I might be called an investor.

[arwin100]

It is really depends on what type of objective that you have, if you are investor then hodl but if you are trader then manage to cut your losses. I converted my bitcoin to usd recently when it dumped, I'm not a investor so for me hodl is not a good strategy.  It really depends on what type of person are you, I have a plan right now where I will do swing trade but I still managing my plans as well as my risk and management.

I agree with this. however, it all depends on you. are you a trader, or an investor. if traders, then you need to take advantage of the situation, and this is more directed to convert. whereas if you make the decision to hold altcoin or bitcoin, you are an investor. Well, in this case, I might be called an investor.

Yes, all matter on individual decision since if they can take what's happening in the market then converting what you have is the best in the case, but if he is a real trader like what you stated here he should ride with the situation since every movement is great opportunity to earn. We just need to outsmart the manipulator if there is or think smarter if there's a chance.

And the most important thing here is not to panic since if we get affected on some instance then this is the start of losing for our trades.

[Oasisman]

It is really depends on what type of objective that you have, if you are investor then hodl but if you are trader then manage to cut your losses. I converted my bitcoin to usd recently when it dumped, I'm not a investor so for me hodl is not a good strategy.  It really depends on what type of person are you, I have a plan right now where I will do swing trade but I still managing my plans as well as my risk and management.

I agree with this. however, it all depends on you. are you a trader, or an investor. if traders, then you need to take advantage of the situation, and this is more directed to convert. whereas if you make the decision to hold altcoin or bitcoin, you are an investor. Well, in this case, I might be called an investor.

Man, hodlers are basically a long term trader, who are just waiting for the Bitcoin price to hit their target before they trade it to fiat again.
There are many kinds of traders , such as day traders, short traders, and the one who buy Bitcoin and hold it until the price goes up, is called a long term trader.
Nevertheless, we are all investing money to cryptocurrency hoping to multiply our capital.

[noormcs5]

It is really depends on what type of objective that you have, if you are investor then hodl but if you are trader then manage to cut your losses. I converted my bitcoin to usd recently when it dumped, I'm not a investor so for me hodl is not a good strategy.  It really depends on what type of person are you, I have a plan right now where I will do swing trade but I still managing my plans as well as my risk and management.

I agree with this. however, it all depends on you. are you a trader, or an investor. if traders, then you need to take advantage of the situation, and this is more directed to convert. whereas if you make the decision to hold altcoin or bitcoin, you are an investor. Well, in this case, I might be called an investor.

Just like many others i am confused whether to hold the bitcoin or convert them in USDT. First the bitcoin price is near the support of 6000$ and all the chances that it will go up from here but in daily time frame, we see  bitcoin is forming a death cross. So it may also go down from here. The volume is also low so nothing can be sure at this moment.