Convert or HODL?

[Wintersoldier]

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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.

It is really challenging for every bitcoin users to decide whether you will hold or convert your bitcoin into USDT or fiat because the price of bitcoin is really unpredictable that we can't really say when will the price will go up or down due to it's votality. I think it is better just to hold your bitcoin just like what we did last year of 2018 because sooner or later bitcoin could increase it's price back again.

[rdluffy]

You have to do a plan and follow it
When I have to time to be well informed and look for great opportunities, I sell and buy again BTC trying to increase my BTC only, not in USD, only in BTC

But when I have to work a lot in my regular job, I just hold, it´s better than lost BTC coins, so it´s up to you do choose which option is the best for you at the moment

[KrisAlex18]

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.

Do not worry about the market mate, there is no lose in investing, you can still hold your money anytime, you look like a typical beginner that panics when the market is down, when the bitcoin goes 3.3k USD investors still hold their money and when the bitcoin reached the 19K Dollars investors still hold their money, do not worry about it mate, you have to wait for the market to rise again the convert it on your fiat currency. The things happen on the market is a normal thing, bitcoin changes its price day by day so do not worry about it because in the near future, the market will goes high again. Everything is normal.

Always hodl, the spikes come fast a furious without warning, converting is just asking to lose out. Don't lose out.

Well said, the changes of price of the bitcoin is really fast, after a day or minute it can turn back on 9K Dollars, so do not pull out it, just wait for the bitcoin the goes high again.

[davis196]

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 can't tell you what you should do with your bitcons.I can say what I can do with my bitcoins.
I will HODL until the summer.I don't care about the short term market panic.I don't care about coronaviruses and stock markets.I'm not a day trader,so I won't sell now and buy cheaper BTC later(if the bear market continues).You can do whatever you want with your coins,but don't seek for trading or financial advice here.It looks stupid to me.

[Yatsan]

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 can't tell you what you should do with your bitcons.I can say what I can do with my bitcoins.
I will HODL until the summer.I don't care about the short term market panic.I don't care about coronaviruses and stock markets.I'm not a day trader,so I won't sell now and buy cheaper BTC later(if the bear market continues).You can do whatever you want with your coins,but don't seek for trading or financial advice here.It looks stupid to me.

That's the benefit of long term trading  Little dump is not going to affect and you, and this is my advice for trader's out there, as long as you don't need money to buy anything or if it is not emergency then, don't convert! it is just going to be a loss if you are going to accept and and convert it into fiat, as long as your coin is on negative don't convert considering that it may pump and you are going to receive you profit. Here in trading, it's just a battle of patience! so always HOLD!!!   

[kentrolla]

Hodl, if you are desperately looking for some profit. The market is very volatile right now converting to USD I really do not have an idea about that, In this short term movement just don't panic and sell your holdings. Just buy as much as you can so that you can make a bunch of profit in near days. Just analyze each and every movement of the market and research on it then one-day you will deserve with money for your patience and time.

[XCANA]

There are instances that will warrant holders to convert but haven't see such instance yet as the market has been on a good and positive momentum. The price of Bitcoin still stage at a reasonable level which its resistance is $8k-$7k nothing is wrong holding my portfolio's as far that, the market will react back again as soon as possible. Convert to USDT will make you as the converter lose out of the bubbles to be created if the price of Bitcoin bounce back. I like holding for maximum rewards and not just to hold with a weaker hands.

[Viscore]

It depends on a lot of factors, if you are into short term trading you should figure out the right timing to convert it to usdt, otherwise, you might regret it in the end, now that it seems the market is now recovering again, maybe you'll try buying btc again if you have converted it already to usdt as after the $8000, next stop might be $9000 again.

[Yamifoud]

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.

And when it comes into reality, most Bitcoin holders are now selling their BTC's and converted into fiat for they are in troubled. If you want to gain profit by now, you'll probably be doing it.

Yeah, we don't lose our trust towards Bitcoin but in a situation like this, you'll have to think also what is good. Holding may not good all the time, even we think that Bitcoin will still recover in the future. For example, if you bought Bitcoin at $7k and you sell it today, definitely, you are gaining. But if you continue to hold, there is a possibility that it drops below $7k then you can be at loss. Why not taking advantage while the price is high, besides, you can buy it back again if you want to.

[Sterbens]

It depends on a lot of factors, if you are into short term trading you should figure out the right timing to convert it to usdt, otherwise, you might regret it in the end, now that it seems the market is now recovering again, maybe you'll try buying btc again if you have converted it already to usdt as after the $8000, next stop might be $9000 again.

I am not good at short term trading so I prefer to hold in a certain amount of time I already hold some assets of bitcoin and altcoin but I see the movement of bitcoin seems to be recovering but I will monitor the market to see the current situation, maybe I will buy again to increase my profits in the future.

This is a good opportunity to take advantage of low prices, as long as you don't panic when the market is red.

[Free1bitco.in]

actually I do not recommend it, it's just that I also had time to change my bitcoin to ethereum, or another altcoin. however, until now, I still hold it in. however, I think halving will have a big effect on bitcoin, and that will happen 3 or 4 months from now. if a pump occurs suddenly, then the decision you made is wrong. it's just that, if it goes down lower, I think that's the right decision. only then, you need to think about the best decision, keep or buy again.

[Shasha80]

The best decision with current market conditions, my advice is to hold the bitcoin that you have. Because if we convert to USDT,
means we cut loss and it makes our capital decrease. After that we may not be able to determine the lowest price from bitcoin.
What is feared after we convert into USDT, bitcoin will soon go up in price instead of going down. Then from the safest way is to
hold bitcoin that you have, until you reach the desired target.

[fabiorem]

If you have a quick way to convert to a stable coin, do it, but pay attention to the fees.

Also only TA now is valid. Pay attention to every single movement. We are in a bear market and if its confirmed to be a eternal one, we will have to adapt our strategies. I have been holding since 2015 and I'm not seeing all those profits the church of hodl praise so much.

Holding only makes sense when bitcoin is free and unpegged from stock markets and paper money, because then its garanteed we will have at least one year similar to 2017. However, recent movements have proven the current year is not similar to 2016. If the current year is compared to 2014 or 2015, then FA is busted, and we need to prepare for a upcoming eternal bear market.

[thisnewcoin]

You made a great decision by converting Bitcoin into USDT, I did the same because it helps a lot. I sold/converted Bitcoin when the price was 9100 USD, I saw the price chart and it looked a dump is coming, though I did not expect this major dump but yet I converted my BTC into USDT, and look now, Bitcoin price has dumped highly and it went to 7600$! Now I can buy Bitcoin and it will give me a greater amount of Bitcoin with the same money. It's a very good trading strategy I believe, so, ignore them who only suggest holding.

[Wysi]

It depends on a lot of factors, if you are into short term trading you should figure out the right timing to convert it to usdt, otherwise, you might regret it in the end, now that it seems the market is now recovering again, maybe you'll try buying btc again if you have converted it already to usdt as after the $8000, next stop might be $9000 again.

Yes indeed we need to take decision whether to convert Bitcoin into USDT or just hodl completely depends on the kind of investment we are making as coverting for minor dumps for long term investors will not make sense but as you mentioned I am looking for some short term gain so it will favor my situation wherein but I have to keep myself updated for 24/7 in order to incur further loss as I will not be able to buy back the same quantity which I have already converted if the value of Bitcoin bounces back.

[Kelvinid]

Decision making may vary when you are in the actual scenario just like now. We need to keep track of our investment and so we can't be in regrets if we miss something around. We've noticed the drops and could we think that we still need to hold? Or just sell it? I don't think this is not a hard thing to decide when you know what is next but it all been unpredictable which sometimes we need time to think of it.

But for me, selling is the best choice if we are already gaining. Having 2-3% market profit is good enough already. We're not supposed to tend to hold anymore cause the market is already in declines and selling it now is the safe way not to lose. We need to be practical though.

[Jeremy Franklin]

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.

Convert all your bags into fiat, I will buy them bro. Nobody has a crystal bowl an call tell you the future. So instead of asking random dudes in a forum how to invest your money, better start analyzing some charts or think about a strategy how you want to invest. From your post, it looks like you have no clue what you are doing.

[Hypnosis00]

It sounds like we've been hearing for another hodl...hold...we're getting back into $4K again? I believe this drop won't get hard as halving comes in the coming days. FOMOeng may start again for sure if this trend will continue for another week. It was just to think about what should be in good to us and for me, I have to convert it now into fiat and take a look next week if there is market improvement then have to buy back again.

[el kaka22]

I would say that holding as always been a favorable choice when it comes to bitcoin except a rare time in 2018 when it never recovered back to 20k but aside from that in the past 10 years there isn't a single time when converting was more profitable. I would say if I were you I would definitely hold it as much as I can and even buy as much as I can and keep it going that way until one day you feel like you profited enough to get out, that is the best way to do it.

Additionally, I do not understand people who go all in all at once, that is not really a great idea, I would say go in slow by slow and that would be much much better. In the end I don't know what to say so just keep it as much as you can but if you HAVE TO sell than there isn't much to talk about since that is the only way without going to debt and debt is worse.

[OrangeII]

It sounds like we've been hearing for another hodl...hold...we're getting back into $4K again? I believe this drop won't get hard as halving comes in the coming days. FOMOeng may start again for sure if this trend will continue for another week. It was just to think about what should be in good to us and for me, I have to convert it now into fiat and take a look next week if there is market improvement then have to buy back again.

I don't think that the price of bitcoin will decrease to $ 4k before halving, but, so far, the decline in the price of bitcoin brings prices back to the beginning of 2020, which is $ 7.3k to $ 7.5k, in fact, I think that the price is likely to decrease even further. I don't recommend converting right now, but if you see a better potential for altcoin, I don't think it's wrong to convert.