Convert or HODL?

[TheUltraElite]

The markets always went against my trades.

Dont let that thought get the better of you. Bad times happen to every trader but it is important to note what went wrong from your side. Panic buying/selling or going FOMO? Not buying the dip or mistiming the order?

I have no idea why the hell that happens, I may be extremely unlucky. Now I'd rather not trade at all than try my luck, because a simple paper calculus shows how much of a profit I could've made doing nothing and just letting my money sit in BTC..

Long term hodling you mean? Yes that is profitable considering you bought at three digit prices and now the price is obviously more than 10x of the buying price. But then again there is always the good effects of using a 1000$ capital to buy sell daily and keep the money flow coming in. Converting to fiat makes you exit the market temporarily to tide over bitcoin bear scenario.

[Kasabus]

There is a major dump on bitcoin, so I guess it's time to convert now so we will not face another possible loses.
With the way the price is going, this seems like the market could still go down, people panic about the corono virus and this is a serious problem that will take time to solve, so better make a wise decision, if it will dump even more, you'll be safe and you can start accumulating also.

[akopjpuge]

If your alts still have % of gains you should covert it to btc as its the best way since if btc dumps more then you have a chance to buy those alts more in a low low prices. I've done it with eth. But sadly this time I'm late 😭

[shoreno]

you have waited for the dump then that is the time you convert your btc to usdt ? thats sounds odd  .

you could have loose then but it still okay to do if you are afraid to think that if btc can go down more  .  i dont convert my btc to usdt but if ever i will , i will only convert it on the value that i like ( 10k above or more ) if i ever im late to convert , i will not ever convert even if its droping continously  because i strongly believe that btc can always go back again to where it left  . 

[tbterryboy]

I have no idea why the hell that happens, I may be extremely unlucky. Now I'd rather not trade at all than try my luck, because a simple paper calculus shows how much of a profit I could've made doing nothing and just letting my money sit in BTC..

Long term hodling you mean? Yes that is profitable considering you bought at three digit prices and now the price is obviously more than 10x of the buying price. But then again there is always the good effects of using a 1000$ capital to buy sell daily and keep the money flow coming in. Converting to fiat makes you exit the market temporarily to tide over bitcoin bear scenario.

Going all at once is actually something smaller fish has to do. I mean when you are going in 100 dollars you can't divide that to 10 bucks at a time, you have to go all in that 100 dollars so that you could make some money from it.

I personally would prefer if there was some sort of big amount that I could not go all in but go slow by slow however I didn't so I went all in with the small amount I had. Now I am not doing so bad and I do not go all in anymore but that doesn't mean we could tell people to divide their money into multiple entry points just because we can do something like that. I would however suggest even the smaller investors to go out there and find all the ways you can make crypto and earn it as well, what you earn as 10 dollars today could be 100 dollars tomorrow.

[Viscore]

you have waited for the dump then that is the time you convert your btc to usdt ? thats sounds odd  .

Maybe he was thinking of a possible more dump, so converting early is better even if he has to cut loss, that's how traders think, they don't just ride with people saying "HODL" as it does not do good all the time, and we witness what happen in the past.

[Smitty Werben Man Jensen]

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 want to find safe it is better to convert to USDT or other stable coins, currently Bitcoin is still undergoing consolidation, and charts show a bearish flag pattern, all coins show the same pattern, Bitcoin, Ethereum, Waves I see exactly in the 1h time frame

[Kelvinid]

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 want to find safe it is better to convert to USDT or other stable coins, currently Bitcoin is still undergoing consolidation, and charts show a bearish flag pattern, all coins show the same pattern, Bitcoin, Ethereum, Waves I see exactly in the 1h time frame

That would be a smart thing to do but the others think it negatively coz it only helps the market to dump. Well, we are bringing our own life and our investment, if this could help to prevent from losing, why we shouldn't have. And to be honest, I'm not a kind of strong holder and I put in my mind that once I gain already, I have no doubt also to sell it then wait for the price to drop and buy back again. This what I usually do and I feel it was effective, and I believe also that the others might make this thing as well.

[ScamViruS]

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.

It all depends on you, how do you feel safe. If you have good knowledge of trading you can convert. However, I prefer to HODL. Because now the market situation very confusing no one know how to react market in the coming days. So holding on at this time seems to be a good option.

[Farma]

There is a major dump on bitcoin, so I guess it's time to convert now so we will not face another possible loses.
With the way the price is going, this seems like the market could still go down, people panic about the corono virus and this is a serious problem that will take time to solve, so better make a wise decision, if it will dump even more, you'll be safe and you can start accumulating also.

I see that crypto that is safe today is USDT. some people turn their assets into USDT to wait for the moment to buyback. but, so far, I have not changed my assets because I think that recovery will also happen suddenly. however, many people recommend holding back. maybe changing this time will be our profit when prices fall back, but it can be a loss when prices go back up.
The price that went down too far made it very difficult for me to make a decision.

[Wind_FURY]

OP, "just HODL", as adviced by many, is incomplete. You should "just HODL, AND BUY MORE". Research "dollar cost averaging" as part of your investment strategy. With Bitcoin, you will end a winner. With HyperBitcoinization,

[Wilhelm]

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.

[hahay]

Will continue to hold it related to this problem, buy more when prices fall that depends on yourself because even if you choose to keep holding, but there is no guarantee that you will buy more because there will always be worries even though you are confident to keep holding.

[bitbunnny]

No matter the price dump my suggestion is to hold. To my opinion this is a temporary situation caused by different factors and price will recover. It's hard to tell for how long it will last and what the final outcome will be but sooner or later price will recover.
So try not to sell unless you really need too and see that as an opportunity to buy more coins to be ready for the profit in the future.

[Wysi]

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.

True, Bitcoin will bounce back and as you have mentioned dit just shows how strong Bitcoin stands against a crisis which has brought world's economy to a standstill. It will hardly be matter of couple of months and Bitcoin will be back in track as usual. I tried my best not to covert it into stable coin but I have to do it with due to my needs.

[fabiorem]

OP, "just HODL", as adviced by many, is incomplete. You should "just HODL, AND BUY MORE". Research "dollar cost averaging" as part of your investment strategy. With Bitcoin, you will end a winner. With HyperBitcoinization,

Empty propaganda, devoid of meaning. This will never happen. Bitcoin is already 26 months in bear mode, with a 2000% leverage derivatives market gambling against its price. Hodler gonna hodl for 800 years with this promise of future gains which will never come. Its like those evangelical churches of the last days which preaches the coming of the messiah.

Bitcoin is not accepted by merchants, not even Steam and PayPal accepts it anymore, due to its 90% drops which happens in a matter of minutes. And cant shield the investor from financial crisis, as the current pandemic crisis showed. Useless as a currency, useless as a store of value, we will see 10k only in six years after its failure to deliver value to its holders. Its the time the hodler cult will need to convince people to buy again.

Sell it, OP.

[Wind_FURY]

OP, "just HODL", as adviced by many, is incomplete. You should "just HODL, AND BUY MORE". Research "dollar cost averaging" as part of your investment strategy. With Bitcoin, you will end a winner. With HyperBitcoinization,

Empty propaganda,

It's a meme.

Sell it, OP.

Sell it and what? Buy again when the bull start coming back? That's good advice if you want to buy high to sell low. Hahaha.

OP, listen to him, sell it, and come back to this post 5 years from now.

[Smitty Werben Man Jensen]

difficult choice if you do not give a stop lose to the coins you trade, if you have lost $ 3000 in a day because the price of bitcoin is down from $ 9000 to $ 6000 even to $ 3000 then it is better my advice is HOLD !, than you lose your money, wait until the price can return to a minimum of $ 8500 or $ 9,000 you can sell it and your capital is safe

[Yamifoud]

difficult choice if you do not give a stop lose to the coins you trade, if you have lost $ 3000 in a day because the price of bitcoin is down from $ 9000 to $ 6000 even to $ 3000 then it is better my advice is HOLD !, than you lose your money, wait until the price can return to a minimum of $ 8500 or $ 9,000 you can sell it and your capital is safe

Yeah, the hold could help to save some but somehow some people never patient enough to wait than to sell. They absolutely suffer the consequences and then put others to blame because someone says to buy. That is why we should have to be clear that investing Bitcoin can't guarantee to gain profit coz the market never works as what we want to be. Just like it happens by now, it seems so surprising and makes a lot of people struggle difficulties and fall into panic selling.

[samcrypto]

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.