Convert or HODL?

[maxreish]

I'm always a long term holder. Came this far and did not ever think of converting it into usdt. Before, i also panicked converting my btc immediately when dumps happened but I realized if we are a long term holder, we tend to wait further calmly waiting for the big pump.
 
 The recent drop on the market make traders go panic, haven't we seen massive drop before? We should already know what to do now, better to hold.

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[verita1]

I hold my Bitcoin for the firm reason that every time I can I should buy more. Also to manage my daily needs, what I do is convert my altcoins into USDT. It is the best way that works for me to hold my Bitcoin. I think everyone has their best strategy to keep their currencies, especially BTCitcoin

[cytpoway121]

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.

I think the recent dump is actually a situation for panic and desperate need for money.
The corona outbreak forced the need to spend urgently for some people, while some fudded into dumping their assets.

There is nothing wrong when you convert to USDT, Because once btc dumps, you can buy back low and have even more satoshis.
Always dyor. and stay in profit.

[garyrowe]

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.

I will look at this from two angles, firstly for those who have tethered, finding the new entry point is very important so as not to loose your position. As it stands I would suggest entering back into the market at different positions, this means it will be better to split your USDT into fractions and buy back in at different positions, as the price reversal might set in anytime. Secondly, for those who did not tether and where caught in the deep, there is no need to sell off now in my own opinion as the reverse trend might kick start any moment from now. Converting to USDT now might get you into a big loss. Just my opinion, decide wisely.

[White Christmas]

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.

Yes I can say that it is still safe to hodl your coins and tokens until the market recovers especially right now that the bitcoin and the market is suddenly go down and it continuously dumping right now and it is kind of sad part because we are not ready on the sudden dump of this market. But I can assure that it is safe to just hold our tokens in order to not suffer heavy losses when we convert right after the coins or tokens that we are holding.

[kaneki007]

Don't hesitate to hold bitcoin, because if you panic and convert to USDT and have bought when the price is below certain when the price of bitcoin rises you will regret, bitcoin has gone through a long bear market phase and I think holding is the right choice. Keep track of bitcoin price movements.

[lienfaye]

Hold and forget for a while the current status of the market. In this way you wont be tempted to convert or sell your bitcoin. The crypto works that way even before and managed to recover in even much high price. So be used to it and have patience to bear the situation because it wont last long.

Nevertheless the decision is still up to you so think whats best.

[btc_angela]

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.

There could be investors who convert and hedge their fund against USDT, I myself convert it to our local fiat. However, I have to wait for the price to really pick up before I can convert it again to BTC because of fees. So I stop doing that and just HODL on it and wait for the price to recover. You said you have capital to buy back more, then do it, nothing is wrong by HODL, you don't lose any money at all, just saying.

[Latviand]

If selling or converting would satisfy you as an investor, feel free to do so. But if you would seek for a better thing to do, it would be holding at this moment. There is an anticipated Bitcoin halving, which is believed to trigger an uptrend eventually. So if you do not want to miss the opportunity of earning huge profit by just being patient right now, you should not consider giving up as this early. The market drawback right now is just caused by the natural market volatility and there is totally nothing to be scared off.

Don't hesitate to hold bitcoin, because if you panic and convert to USDT and have bought when the price is below certain when the price of bitcoin rises you will regret, bitcoin has gone through a long bear market phase and I think holding is the right choice. Keep track of bitcoin price movements.

That is the problem to those people who are just into easily earned profit. There's no such thing in any investment. There will always be risk and your responsibility as an investor is to simply be patient and avoid actions that would harm your investment. Also, downfalls are not a new thing in this industry.

[Octular]

Personally I do not believe in being able to anticipate short term market fluctuation. If you believe in something long term, stick to it and try to not think about market fluctuations short term.

[alexsandria]

Hold and forget for a while the current status of the market. In this way you wont be tempted to convert or sell your bitcoin. The crypto works that way even before and managed to recover in even much high price. So be used to it and have patience to bear the situation because it wont last long.

Nevertheless the decision is still up to you so think whats best.

Actually it will be good if we will just keep on holding our coins than selling or convert it right away especially this time just because we are afraid on what would happen or if the market will continuously to dump because I believe that this is a part of the market situation in which it may really volatile in which everytime thrtr is a changes, but don't worry because I believe that this time will be a good outcome if we will just hold and not go with the flow of dumping the price and selling our coins or converting it.

[gandame]

Converting your bitcoin to USDT is a good idea, it only shows that you have made an immediate action to put your investment to safety.

You can also buy more bitcoin if the price of bitcoin will drop even further, and that will be + on your investment.

But as for me, I prefer to hodl until I maximize making a profit, since I prefer a long term hodl and our current market price is deeper than expected, I will probably add more into it.

[airdnasxela]

If you're also going to buy back Bitcoin after monitoring the market, you should have just hodl it. What if after you convert your Bitcoin the price suddenly increases, then you will just regret converting it. For sure most of us or everyone here would prefer to hold because we're here in crypto and it's normal for the price to change. But converting or holding it still depends on us. If you prefer it that way, you can do that.

[Reid]

This ain't a bitcoin discussion right?
More like trading to me.

As of the suggestion though, I would still HODL and I do think more us members here will also consider that rather than converting it to something else.
We need support in what value it should stay and that also means people keeping their bitcoin's in their wallet.
With that, we can assure than demands will come when there is lesser bitcoin in the market.

[plvbob0070]

I agree with the previous reply here. which just hold your bitcoin and don't instantly convert it by just seeing that sudden drop on the market. I also suffer big losses after the sudden drop of bitcoin but I still want to hold it and I know it will climb again to 10,000$. I'm pretty sure you are not the one who instantly converts their bitcoin into USD and there are always people who panic because of sudden drop and later on they just realize that they just lose the opportunity to earn more profit.

Just stick keeping your bitcoin and even it goes fall, try to stop yourself from selling it. IMO, long term investment will totally end up earning a huge profit. No matter what happens I will keep on holding my bitcoin and I will try to buy more.

[ballerin and giroud]

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.

If you didn't let to sell your bitcoin then you have a right to sell them. For me it was really hard to figure out that the bearish trend will come or it was just a correction by some tradet who did bought and sold. I just choose to hold if my intention to buy bitcoin for long term investment, but if my intention was to trade then I will check the price movement closely because I need to sell my coin and let I got a small lose. By the way this time bitcoin price is increasing again, have you buy it again?

[FanatMonet]

I held Bitcoin when it cost $ 300, I held it when it cost $ 20,000, I held it when it cost $ 4,000, I hold it now, and I will keep it on. The truth is that I have a relatively small amount, so even if something not very good happens to Bitcoin, I will not be very offended.

[Linkkoin]

In such cases, converting or mere hodling may not be the best solution.

If panic rules on the market, many people stop thinking and as a result, BTC or another crypto may (and often does) reach the price level of underpriced. Therefore in many cases, the best choice may be simply to buy more (like all the whales do). Just remember that if you bought during the last cryptowinter (when the panic was much worse than now), Bitcoin bought then is worth more than 250% of the purchase price.

And remember that, stable coins are related to fiat currency, and countries like US and China already started next period of printing their currency out of thin air, so then the objective value of stable coin related to USD keeps going down.

[Golftech]

If you're also going to buy back Bitcoin after monitoring the market, you should have just hodl it. What if after you convert your Bitcoin the price suddenly increases, then you will just regret converting it. For sure most of us or everyone here would prefer to hold because we're here in crypto and it's normal for the price to change. But converting or holding it still depends on us. If you prefer it that way, you can do that.

If you know more deeper and you understand how to benefits then dealing with cutting losses will make it beneficial for you, but like what this replied said, if you are not good in buying back and suddenly right after your conversion and the value bounced back you'll be trapped and what you can do is to regret why you did such action. Take time to read the situation and analyze your next action, else, just keep everything and wait for the next bounce.

[LogitechMouse]

~

When the price of Bitcoin started to drop last 2018, some of the investors who bought Bitcoin at the top choose to hold their Bitcoins instead of selling it because of one word. "TRUST".

Now it is a challenge for the investors if they are going to convert their Bitcoin into USDT or just hold and just accumulate more. Well if you are a trader then you can do it but if you aren't a trader then it will be better to just hold it for quite a while since many are expecting that Bitcoin's price will increase before the halving despite the current events that is happening right now and because of this sentiment, it can make the price go high as more investors will buy BTC.