Convert or HODL?

[freedomgo]

Just like many others i am confused whether to hold the bitcoin or convert them in USDT.

You got with your guts, for sure you know how to analyze the current market situation, and also its necessary to know if you are for long term because if you are, you don't need to worry is happening currently, this is bitcoin, this will certain rise again in time.

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.

Bitcoin might die again this year, but ask yourself, how many times bitcoin died? if you can answer that based on your research, it will make you trust bitcoin and you'll not worry.

[1714911745]

1714911745

[1714911745]

1714911745

[1714911745]

1714911745

[1714911745]

1714911745

[1714911745]

1714911745

[criza]

This could vary from every people that has Bitcoin. Some can hold and still survive the outbreak but, others can't, people need to eat to survive and continue living. As for me, my parents still takes care for my needs and such so, it would be best for me to still hold most of my stocks and just convert some for loads and other things.

[415jeremy]

Choosing between converting and hodling depends on many factors. And we can't make this decision for you. My own strategy is buying at dips + continuously hodling.

[posi]

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.

You absolutely right about not investing in crypto currency through loan due to the high volatility in nature of crypto and the high risk involved in trading with the money ones cant afford to loose is the reason why i never supported margin trading but some people were lucky to make it through margin trading because they have the require knowledge and market trend examine.

[hulla]

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.

You're right and thats the reason why i mentioned the current situation affected every market setting. Despite, the 30-45% dump in price of bitcoin this current down trend market is the best time to accumulate more coin at cheap rate. Besides, it better to exchange all ones holding into stablecoin  rather than selling it for fiat as you said.
With that been said, i believe you dont have much experience as crypto trading is concern and i don't see any point in me explain to you how crypto works in terms of volatility since you have judge the market through the current state but i hope you choose fiat as you claim cause I'm sure you'll wish you're holding stablecoin while you seize the opportunity of the market downtrend in the future.

[milewilda]

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.

You're right and thats the reason why i mentioned the current situation affected every market setting. Despite, the 30-45% dump in price of bitcoin this current down trend market is the best time to accumulate more coin at cheap rate. Besides, it better to exchange all ones holding into stablecoin  rather than selling it for fiat as you said.
With that been said, i believe you dont have much experience as crypto trading is concern and i don't see any point in me explain to you how crypto works in terms of volatility since you have judge the market through the current state but i hope you choose fiat as you claim cause I'm sure you'll wish you're holding stablecoin while you seize the opportunity of the market downtrend in the future.

Every dip would really be an opportunity to accumulate coins while its cheap but this isnt applicable to all because not all people would have the same mindset and feelings into this kind of situation.
For sure there would be the ones who would really be on hesitance to buy up again yet they've been thinking for further dip down of markets rather than considering to have a recovery later on.
Profitability will always depend or vary on how much risk you do put on into your investment decisions.If you can risk out then it will either succeed or not.

[eR4]

I am convinced that the "HODL" policy was created only for people with steel nerves (or balls)
I know a lot of people who held the currency for a long time, but during a panic (for example, November 2018), they sold everything at the very bottom in fear of losing everything.
This tactic is designed exclusively for people who are not afraid to stay with nothing.
I would recommend creating a separate wallet and putting a certain amount of funds on it, which is not a pity to part with, and after a few years you will be guaranteed several times more money.